"News & Issues" piece on the sale of Maine Educational Loan Marketing Corp.'s (M
"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.
Student aid, Maine Educational Loan and Marketing Corp
Burnett, Lee, ""News & Issues" piece on the sale of Maine Educational Loan Marketing Corp.'s (M" (2000). Maine News Index – Maine Times. 4562.