Maine Motor Transport Association (MMTA) Education Loan
MMTA has partnered with Maine Savings to provide a NO INTEREST loan program to help finance CDL training tuition costs at approved CDL schools.
Maine Savings has processed 24 loans for a total of $145,644 in the first two and a half months. This volume is already twice as many loans as we had anticipated! The program is still available, so we want to try to get more people to take advantage of the opportunity!
- 100% financing of tuition costs (up to $7,000) of a CDL course through approved CDL schools
- 0% interest rate
- First payment deferred to 60 days after completion of course
- Flexible repayment terms: up to 36 months with payments of $27.78 per $1,000 borrowed, with a minimum monthly payment of $50
- No collateral or prior credit required
- Easy online application to apply
- Reasonable credit standards
- An appeal option directly with MMTA for applicants that do not initially qualify
- Only Maine residents going to approved Maine trade schools are eligible
- Borrower must be at least 18 and must be a member of Maine Savings to be eligible. Joining is easy at www.mainesavings.com/join