Choosing a lender can be a difficult decision. Here are four lenders who YCCC recommends the following lenders based on the following factors: quality of customer service, benefits to the students, and previous loan volume. However, you may choose a different lender. If you wish to review other lenders please go to www.famemaine.com and on the home page in the Education section, click on "Participating Student Loan Lenders".
Stafford Loan
| Lender | Default Fee | Origination Fee | Interest Rate | Other Benefits |
|---|---|---|---|---|
| Citizen's | 1% |
1% |
Subsidized- 6% Unsubsidized-6.8% |
* .25% interest rate reduction for automatic payment from any bank account |
| Maine Advantage | 1% |
1.5% |
Subsidized- 6% Unsubsidized-6.8% |
|
| MES | 1% |
1.5% |
Subsidized- 6% Unsubsidized-6.8% |
|
| Nelnet | 1% |
1% |
Subsidized- 6% Unsubsidized-6.8% |
* Skip your last five payments after making all previous payments on time. see www.nelnet.net for more details * Skip two additional last payments for using auto debit. See www.nelnet.net for more details |
To complete the stafford loan application process, please print the Stafford Loan Application, enter the required information and return the form to the Financial Aid Office. Mail: YCCC- Financial Aid Office 112 College Dr. Wells, Maine 04090 or fax 207-641-0837.
Parent PLUS Loan
| Lender | Default Fee | Origination Fee | Interest Rate | Other Benefits |
|---|---|---|---|---|
| Citizen's | 1% |
3% |
8.5% |
* .25% interest rate reduction for automatic payment from any bank account |
| Maine Advantage | 1% |
3% |
8.5% |
|
| MES | 1% |
3% |
8.5% |
|
| Nelnet | 1% |
3% |
8.5% |
*Repayment will begin 60 days after the final disbursement.
If you wish to review other lenders please go to www.famemaine.com and you will be able to research additional participating lenders. To complete the PLUS loan application process, please print the PLUS Loan Application, enter the required information and return the form to the Financial Aid Office. Mail: YCCC- Financial Aid Office 112 College Dr. Wells, Maine 04090 or fax 207-641-0837.
If you have any questions please contact the Financial Aid Office at finaid@yccc.edu or 207-646-9282 ext. 312