Title

"News & Issues" piece on the sale of Maine Educational Loan Marketing Corp.'s (M

Authors

Lee Burnett

Source

Maine Times

Date

7-27-2000

Pages

11

Abstract

"News & Issues" piece on the sale of Maine Educational Loan Marketing Corp.'s (MELMAC) portfolio to NELnet of Lincoln, Neb., a giant in the student lending field. Attorney General Andrew Ketterer filed suit in Kennebec County Superior Court July 24 to block the $30 million sale of the $500 million-plus portfolio. The proceeds of the sale would be used to set up a private education foundation headed by former state legislator Wendy Ault, who now heads MELMAC. State Treasurer Dale McCormick called the sale a giveaway of public assets to a private foundation. MELMAC is ranked about 50th among U.S. student lenders, while NELnet, with a $3.4 billion student loan portfolio, is among the top five.

Subjects

Student aid, Maine Educational Loan and Marketing Corp

Full text is not available here. Please contact the Library for a copy of the article.

Share

COinS