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Financial Aid

Private Alternative Loan Lender List

Lender
Loan Program Name
Interest Options & Origination Fees Minimum / Maximum Repayment Options SAP Required Minimum Enrollment Degree Status Required Payment of Prior Balance
Wells Fargo Bank, N.A.
Wells Fargo Collegiate Loan
wellsfargo.com/student
1-800-658-3567
Disclosure Information
No Fees
Variable and Fixed Rates
$1000 / 
Cost of attendance minus financial aid
Total Deferment up to 6 months after graduation
Interest Only Payments
Minimum Monthly Payment
No Less than half-time No Yes, 30 days after the end of semester
Sallie Mae
Salle Mae Smart Option Loan
salliemae.com
1-888-272-5543
Disclosure Information
No Fees
Variable and Fixed Rates
$1000 / 
Cost of attendance minus financial aid
Total Deferment up to 6 months after graduation
Interest Only Payments
Minimum Monthly Payment
No Less than half-time No Yes, less than 365 days after the end of semester
Maine Educational Loan Authority
The Maine Loan
maineloan.com
1-800-922-6352
Disclosure Information
4% Fee
Fixed Rate
$1000 / 
Cost of attendance minus financial aid
Total Deferment up to 6 months after graduation
Interest Only Payments
Minimum Monthly Payment
No At least 1/2 time No Yes, up to 12 months
Citizens Bank
Citizens Bank Student Loan
citizensbank.com/edu
1-800-708-6684
Disclosure Information
No Fees
Variable and Fixed Rates
$1000 / 
Cost of attendance minus financial aid
Total Deferment up to 6 months after graduation
Interest Only Payments
Minimum Monthly Payment
No At least 1/2 time Yes Yes, up to 180 days after the end of semester
Union Federal Savings Bank
Union Federal Private Loan
unionfederalstudentloans.com
1-800-708-6684
Disclosure Information
No Fees
Variable Rate
$1001 / 
Cost of attendance minus financial aid
Total Deferment up to 66 months from the date of first disbursement while enrolled at least 1/2 time
Interest Only Payment
Minimum Monthly Payment
No At least 1/2 time Yes Yes, up to 90 days after the end of semester
Suntrust Bank
Custom Choice Loan
suntrusteducation.com
1-866-230-5609
Disclosure information
No Fees
Variable and Fixed Rates
$1001 / 
Cost of attendance minus financial aid
Total Deferment up to 66 months from the date of first disbursement while enrolled at least 1/2 time, plus 180 days after graduation of dropping below 1/2 time
Interest Only Payment
No At least 1/2 time Yes Yes, up to 30 days after the end of semester
University Credit Union
UCU Private Education Loan
ucu.maine.edu
1-800-696-8628
Disclosure Information
No Fees
Rates based on credit score
$1500 / 
Cost of attendance minus  financial aid
Total Deferment while enrolled at least 1/2 time
Minimum Monthly Payment of $50
Yes At least 1/2 time Yes Yes, Prior year balance at currently enrolled school
Discover Bank
Discover Student Loans/Certified Private Loans
DiscoverStudentLoans.com
1-877-728-3030
Disclosure Information
No Fees
Variable and Fixed Rates
$1000 / 
Cost of attendance minus financial aid
Total Deferment while enrolled at least 1/2 time
Minimum Monthly Payment
Yes At least 1/2 time Yes No
Massachusetts Educational Financing Authority
MEFA Loan for Undergraduate Education
mefa.org/collegeloans
1-800-449-6332
Disclosure Information
4% with a co-borrower / 7% without a co-borrower
Fixed Rate
$1500 / 
Cost of attendance minus financial aid
Total Deferment up to 6 months after graduation Interest Only Payment
Minimum Monthly Payment of $50
Yes At least 1/2 time Yes Yes, only within the current academic year
Rhode Island Student Loan Authority
RISLA's Fixed Rate Loans
risla.com
1-800-758-7562
Disclosure Information
Up to 4% Fee
Fixed Rate
$1500 / 
Cost of attendance minus financial aid
Total Deferment up to 6 months after graduation
Minimum Monthly Payment of $50
No At least 1/2 time Yes No
PNC Education Loan Center
PNC Education Loan Center
pnconcampus.com
1-800-762-1001
Disclosure Information
No Fees
Variable and Fixed Rates
$1000 / 
Cost of attendance minus financial aid
Deferment Option
Interest Only Payment
No At least 1/2 time Yes Yes, up to 90 days after the end of semester
Maine Savings Bank
Private Education Loan
mainesavings.com
1-800-273-6700
Disclosure Information
2%-6% Fees based on credit score
Rates based on credit scores of borrower and co-borrower
$1500 / 
Cost of attendance minus financial aid
Deferment Option
Interest Only Payment
Minimum Monthly Payment
Yes At least 1/2 time Yes Yes, up to prior year at currently enrolled school
Seaboard Federal Credit Union
Maine Private Education Loan
seaboardfcu.com
207-469-6341
Disclosure Information
No Fees
Rates based on credit scores of borrower  and co­borrower
$1500 / 
Cost of attendance minus financial aid
Deferment Option
Interest Only Payment
Minimum Monthly
Yes At least 1/2 time Yes Yes, prior year
MidCoast Federal Credit Union
Private Education Loan
midcoastfcu.me
207-443-1831
Disclosure Information
2%-6% Fees
Variable Rates
$1500 / 
Cost of attendance minus financial aid
Deferment Option
Interest Only Payment
Minimum Monthly
Yes At least 1/2 time Yes Yes
Infinity Federal Credit Union
Credit Union
Infinityfcu.com
207-854-6046
Disclosure Information
No fees to 2%-4% Fees based on credit score
Variable Rates
$1500 / 
Cost of attendance minus financial aid
Deferment Option
Interest Only Payment
Minimum Monthly
Yes At least 1/2 time Yes Yes, up to prior year at currently  enrolled school