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Private Student Loans

Need a student loan to reach your goals?

Your future is bright, but sometimes your savings and financial aid options aren’t enough to cover the full cost of higher education. Bath Savings offers local private student loans powered by FAME with competitive rates and fees. It’s easy, local and sensible!

Am I eligible?

  • Must be enrolled at least half time in an eligible degree or certificate program.
  • School certification is required.
  • Must meet credit standards (with or without a cosigner).
  • Maine residents going to Maine or out-of-state colleges and universities are eligible.
  • Out-of-state residents attending Maine colleges and universities are eligible.

How much can I borrow?

  • Minimum loan amount: $1,500

When do I need to start repaying my loan?

Many repayment options are available:

  • Start payments of principal and interest right away.
  • Defer payments of principal and interest while you are enrolled in school at least half time. Principal and interest payments begin following a six month grace period after you leave school.
  • Defer payments of principal, and make interest only payments while you are enrolled in school at least half time. Full principal and interest payments begin following a six month grace period after you leave school.