Created in 1983 by the Maine Legislature, The Maine Educational Loan Authority (MELA) is a self-sustaining, quasi-independent state authority dedicated to helping Maine students and their families meet the costs of higher education. As a non-profit organization, MELA offers low-cost, fixed-rate loan programs, such as The Maine Loan® and The Maine Medical Loan®, to bridge the gap between financial aid and the total cost of attendance. Its mission is to provide an affordable and accessible path to higher education financing for residents of Maine and those attending Maine-based institutions.

Founded in

United States