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Student Loan Consolidation

Refinance or consolidate your student loans — we’re here to help!

Combine multiple student loan payments into one easy payment, or refinance a high-interest rate student loan. Bath Savings offers FAME-based lending solutions with competitive rates and fees and can customize a payback solution that fits your needs.

Why refinance your student loans with us?

  • Competitive variable rates (and/or fixed rates if applicable) and fees (or zero fees if applicable): See our Application & Solicitation Disclosure
  • Maine based loan with a local community partner—us!
  • Reduce student loan rate and/or payment
  • Combine many student loan payments into one payment. Apply online!

IMPORTANT: If you refinance or consolidate any federal education loans, you will no longer be eligible for the benefits tied to your original loans such as income-based repayment plans, forbearance and deferment options and loan forgiveness programs.

When determining what loans (private and federal) you wish to refinance, be sure to weigh the pros and cons of doing so. Federal loans come with some benefits that may or may not apply to you. Some examples of those benefits are loan forgiveness programs for certain professions, the option to postpone payments based on financial hardship and a wide variety of payment plans. These benefits and protections do not transfer to private student loans.

Am I eligible?

  • You must be a Maine resident or have attended a Maine college, university, or high school.
  • You must meet credit standards (with or without a co-applicant)
  • You must have a minimum of $10,000 in student loans that you are consolidating or refinancing
  • You may also be eligible if you were a prior private student loan borrower with one of the participating Maine Private Education Loan Network lenders (see theLoanforME.com for participating lenders)

How much can I borrow?

  • Minimum loan amount: $10,000
  • Maximum loan amount: $250,000

When do I need to start repaying my loan?

Payment of principal and interest begins immediately after the loan closes. There is no deferment should you decide to go back to school, so be sure to consider carefully if now is the right time for you to refinance your student loans.

Click here to Check Your Application Status or Continue a Previous Application

Co-applicants click here to Complete the Co-applicant Portion of the Application