Student Loans

Student Loan Opportunities 

Maine Medical Education Foundation- 

Low Interest Medical School Loan Program 


The Maine Medical Education Foundation (MMEF) Loan Program was established in 1959 by the Maine Medical Association (MMA) to make loans available to Maine residents enrolled in or accepted to approved medical schools. Over the past 50 years, over $5 million has been loaned to deserving medical students. These loans can be used to fill the gap between federal loan programs and the full cost of education.

Benefits of a MMEF Loan

  • No application or origination fees
  • No interest accrues while in school
  • Low, fixed interest rate during loan repayment
  • Free membership in the American Medical Association while in school
  • Free membership in the Maine Medical Association while in school
  • High-quality customer service center located in Maine
  • Extended residency period- Students may now defer principal payments for up to five years after graduation from medical school.
  • Deferment of interest payments- Students will receive optional interest statements during this five year period.
  • Repayment period extended- Ten year term begins when the loan enters full repayment of principal and interest.

Terms & Eligibility

  • Maine residents accepted by or enrolled in approved medical schools
    •  A resident is an individual who has lived in the State of Maine, for other than educational purposes, one year prior to registration or application to medical school. Similarly, the spouse or domestic partner of a person who has continuous, full-time employment in Maine at the time of medical school registration or application is considered a resident. Absent documentation or residency or ties, an applicant who has resided in Maine solely to attend an in-state institution is considered a non-resident.
  • Must be a member of the American Medical Association and the Maine Medical Association
  • No application or origination fees
  • Loan amounts range from $2,000 up to the full cost of education
  • Checks are payable to the student and mailed directly to the address listed on the application
  • Application deadline: May 1st of award year
  • Student must be pursuing a degree of Doctor of Medicine (MD) or Doctor of Osteopathic Medicine (DO)

Interest Rate

  • No interest accrues while the student is in school at least halftime
  • Low, fixed interest rate of 5%* during repayment
  • Tiered interest rate while student is in residency program (up to 5 years)

For more information click here.