Blog

Two new loan repayment programs benefit health care professionals in Maine

The following are two recently approved loan repayment programs administered by FAME-Maine that may be helpful to your staff. Both program application cycles open on June 1, 2022 with a deadline of September 1, 2022.

Maine Health Care Provider Loan Repayment Pilot Program
This program provides one-time funds to support rebuilding Maine's health care industry workforce, which has been negatively impacted by COVID-19. The program will attract and retain health care professionals in Maine by repaying outstanding student loans of selected participants who commit to living and working in Maine for at least three years. FAME will pay up to $25,000 per year and, in aggregate, the lesser of $75,000 and 50% of the recipient's outstanding loan balance. 

Nursing Education Loan Repayment Program
This program will repay over time the student loans of selected participants to support rebuilding Maine's nursing workforce as an industry negatively impacted by COVID-19. The Nursing Education Loan Repayment Program will attract and retain nursing educators by repaying outstanding student loans of selected participants who commit to living and working in Maine for at least three years. The program will repay over time the loans of selected participants who meet program criteria in the total amount of up to $20,000 for participants with a master's degree and up to $40,000 for participants with a doctoral degree. 

For more information, please visit: Repaying Student Loans - FAME Maine.

Staff contact: ngrosso@mehca.org