We shall not be powering a loan application period on the spring off 2022 while we evaluate the program’s future. As soon as we has an update to express, we will blog post they right here as soon as possible.

Concerning the System

This new Alfond Leaders Student Financial obligation Reduction Program brings student loan repayment help individuals who alive and are employed in Maine during the a great STEM-designated field from the a great Maine-oriented workplace.

This new during the 2020, youngsters that have completed or tend to complete the studies otherwise certification inside days out-of application schedules try welcome to pertain. The mortgage fees honours made to recent college or university students otherwise students who happen to be graduating, in the event that picked, are not finalized up to he’s got begun a base status for the Maine and also have transferred to the state.

Alfond Commander people have to fill in an entire application and all required records, that are on account of Glory on or through to the application due date. Including: your internet application, specialized university transcripts, current resume, and you may copies of all of the loan comments.

There’ll be a couple of application episodes a-year: one out of the brand new spring season and another in the slide. New spring season app period is now finalized. The current application stage signed to the .

There are 2 application collection episodes per year: one out of the fresh new spring season and something on the slide. The modern application duration toward Alfond Frontrunner program is actually .

Please note: an entire application and all expected documents are due to Magnificence on otherwise up until the deadline. This can include:

Alfond Frontrunners could possibly get qualify for mortgage repayment of up to 1 / 2 of of its a fantastic education loan balance in the course of app into program, to not ever go beyond $60,one hundred thousand

• Your internet app
• Official school transcripts
• Newest restart
• Copies of all loan report

Alfond Frontrunners may qualify for mortgage cost of up to 50 % of of the outstanding education loan balance at the time of app toward system, not to ever exceed $60,100000

• Maine people otherwise persons who will getting Maine customers on are hired by a great Maine-built company.
• One working, otherwise who will be employed, because of the an effective Maine-established manager from inside the a selected Stalk occupation. Follow this link to have a list of Stalk employment.
• To the spring 2021 software cycle, eligible people must have a higher degree degree or certification; or possess has just graduated that have a degree or certificate ranging from ; or even be finishing their knowledge or certification ranging from .
• A candidate need a fantastic education loan personal debt.
• Preference could be made available to people doing work full time in some Base job, since dependent on Glory within the cooperation on Alfond Leaders Advisory Committee.

Both student and you can graduate student loans meet the criteria for Alfond Leaders education loan repayment. Brand new college loans together with refinanced or consolidated college loans qualify, offered these people were particularly for knowledge costs. Parent finance aren’t qualified.

Applications is actually examined to your Alfond Leadership Consultative Panel. When you’re chose due to the fact an excellent finalist, you are requested to participate in a job interview. Alfond Management to your slide 2020 app course, which ran regarding , will be chose and notified of its alternatives just as much as into the .

Awards are paid in several installment payments: the first fees was repaid just after 36 months of being qualified work, plus the second installment might be paid off once an extra three numerous years of qualifying employment. An offer of each and every financial obligation-reduction cost for somebody might be determined during the time from possibilities as the a keen Alfond Commander and get depending one person’s a good education loan financial obligation at the time of software to help you the program, and additionally susceptible to other conditions and terms. Remember that a personal debt-prevention commission will never be more than the remaining balance out-of their student loans in the course of commission.