Title

"Politics and Other Mistakes" piece on the power struggle between Maine Educatio

Authors

Al Diamon

Source

Casco Bay Weekly

Date

4-1-1999

Pages

5

Abstract

"Politics and Other Mistakes" piece on the power struggle between Maine Education Services (MES) and the Finance Authority of Maine (FAME) over which of the two agencies will control the distribution of state-backed loans to college students. Dick Pierce, a former Republican gubernatorial candidate, created MES in 1989 to administer the Maine Educational Loan Marketing Corp. (MELMAC) and the Maine Education Loan Authority (MELA). By 1991, Pierce controlled 70 percent of the college loan market in Maine. FAME has been trying to get it back ever since. In the meantime, Pierce controls a $5.4 million annual budget, including his own salary and benefits of more than $165,000.

Subjects

Finance Authority of Maine (FAME), Maine Education Services -- Portland, Student aid

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