Maine students and their families borrow more than $136 million each year to fin
Maine students and their families borrow more than $136 million each year to finance college. A variety of institutions are involved, from hometown banks to agencies related to state government. But the system is generating hot debate in Augusta and more heat is expected when a new study commission reports to the Legislature in January. Richard Pushard, a vice president at Maine Education Services (MES), said the conflict began with a "secret meeting" last spring to which MES was not invited and at which his company's normal share of the state's student loan funds was reduced by $20 million, with half going to the Treasurer's office, and the other half going to the Finance Authority of Maine (FAME). The study commission, with members due to be appointed within a month by the governor, speaker of the House and Senate president, will go to work on the problem soon.
Davis, Jay, "Maine students and their families borrow more than $136 million each year to fin" (1999). Maine News Index – Maine Times. 3617.