The IDSVA Private Loan is not being offered
by or made by the Institute for Doctoral Studies in the Visual Arts, but by Maine Education Services.
The IDSVA Private Loan Benefits
- Fixed interest rate of 8.50%
- Student Loan Specialists located in Maine are ready to assist throughout the process
- Co-borrowers allowed
Eligibility
- Must be attending IDSVA
- Satisfactory credit history
- Demonstrated ability to repay the loan
- Must be employed
- Must be a U.S. citizen or permanent resident
Fees
- 5% guarantee fee, added to the loan balance at the time of disbursement
Loan Amounts
- Maximum annual loan limit of $15,000 per student
Repayment Options
- Deferment of principal while enrolled
- Interest payments are required while in school and grace status
- Immediate repayment option available
- No pre-payment penalty
- 10 year repayment term
Questions
Student Loan Specialists, located in Maine,
are ready to assist at:
1-800-922-6352
customerservice@mesfoundation.com
How to Apply
- Download an application and learn more
- Mail or fax the application to:
Maine Education Services
131 Presumpscot Street
Portland, ME 04103
207-791-3616 (fax)
Mail in the following supplemental
documents:
- A copy of your most recent pay stub (dated within the past 30 days)
- A copy of your most recent Federal Income Tax Return, including all schedules, and W-2s
- If self employed, send your last two years of Federal Income Tax Returns, including all schedules
- Original application, if faxed
* *The APR is 9.238%. The APR, or Annual Percentage Rate, is
the effective interest rate when the guarantee fee and all interest charges are included. This APR is based
on a fixed interest rate of 8.50%, a loan amount of $10,000, a guarantee fee of 5% which is added to the
principal balance at the time of disbursement, and a repayment term of 120 months, and assuming
interest only payments for three and a half years.
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