Educators for Maine is a forgivable loan program administered by the Finance Authority of Maine (FAME) for Maine students pursuing careers in education. Awards are based on academic achievement. Awards are up to $4,000 per year (total of $16,000) for full-time undergraduate students and up to $3,000 per year (total of $12,000) for graduate students. These are renewable loans that can be forgiven by teaching in a Maine public elementary or secondary school upon graduation. Otherwise, for NEW loan recipients who began in the 2019-2020 academic year, the loan would need to be repaid at a fixed rate of 5.0%. Previous borrowers, who do not receive loan forgiveness, are advised to consult their promissory note or the Finance Authority of Maine (famemaine.com; (800) 228-3734) for further details.
You may apply for this program if you are:
- Pursuing a career in education, AND
- A resident of Maine, AND
- A high school senior, GED recipient, or a college student currently enrolled in a higher education institution and are maintaining a minimum 3.0 GPA (on a 4.0 grade point scale).
You may also apply for this program if you:
- Are a resident of Maine, AND
- Already hold a bachelor’s degree with at least a 3.0 GPA (on a 4.0 Grade point scale), AND
- Are enrolled in or applied for enrollment in a post baccalaureate program leading to certification as a teacher, speech pathologist, or child care provider.
Applications are available in the financial Aid Office as well as through FAME. Applications must be postmarked by May 1, 2020.