Finance Authority of Maine
Education Update
November 24, 2010
In This Issue
College Access Sub-Grants
Financial Literacy Advisory Council
Showcase Maine 2010
Wednesday Webinar Series
EPIC
Election Update
State Budget Update
Upcoming Events

November 25 & 26, 2010
FAME will be closed in observance of the Thanksgiving Day Holiday

December 7, 2010
Financial Literacy Advisory Council Meeting

December 10, 2010
Higher Education Advisory Council Meeting

 

December 16, 2010

FAME Board of Directors Meeting

 

December 24, 2010

FAME will be closed in observance of the Christmas Holiday

 

December 31, 2010

FAME will be closed in observance of the New Years Day Holiday

College Goal Maine 

 

One of FAME's goals for FY2011 is that 50 percent of all high school seniors will file the FAFSA by May 1, 2011.  One of the strategies to accomplish this goal is increasing attendance at College Goal Sunday sites.  Rather than having just one day set aside for the event, the entire month of January is being dedicated to helping students complete the FAFSA.  The program will be called College Goal Maine.   In addition, all College Goal Maine sites will have computer access so that families can complete the FAFSA on the day of the event. 

 

There are nine regional sites scheduled for Sunday, January 30, 2011.  There are more than 30 events scheduled  at local sites around the state during the month of January.  All sites, dates, times and locations are available on the website at www.collegegoalsundaymaine.com.  There are still a few sites that are being finalized, and I expect they will be added to the site by the end of this month.

 

We will still be asking for volunteers to help with the Sunday sites, as the regional sites tend to draw larger crowds.  We will also happy to have volunteers at any other site on any other day if you are interested in attending.  More information about volunteers will be available soon.

 

FAME Announces College Access Sub-Grant Recipients 
 

The Finance Authority of Maine (FAME) recently notified eighteen Maine schools and non-profit education organizations that they have been chosen to receive sub-grants totaling $534,663 as part of the Maine College Access Challenge Grant administered by FAME.  Additional details are available online

FAME Collaborates to Create the Financial Literacy Advisory Council

 

In an effort to encourage collaboration among various entities currently working to increase college access and financial education in Maine, FAME has established a Financial Literacy Advisory Council.  This Council is being created to bring together Maine's financial literacy experts, educators and policy makers to increase collaboration, communication and to strengthen and improve public and private sector financial education programs. Initial goals of the Council will be to create an inventory of Maine financial literacy organizations and initiatives and to begin the development of a web page dedicated to highlighting financial literacy programs in Maine.  Anyone interested in joining the Council should contact Mary Dyer.

 

Showcase Maine a Great Success! 

 

Over 250 people attended FAME's annual dinner, Showcase Maine.  This year's highlights included over 35 exhibitors including the Maine Association of Student Financial Aid Administrators, the awarding of the Education at Work for Maine Award to the 2010 Financial Literacy for Maine Youth Summit Planning Committee and keynote speaker, Seth Wescott.

Seth at Showcase Maine
Wednesday Webinar Series 
 

FAME's Webinars occur on the second Wednesday of each month at 10:00 a.m. and last approximately one hour. The tentative training schedule for the remainder of the 2010-2011 year is:

  • December - College Access and the Adult Student
  • January - 2011-2012 FAFSA Training
  • February - Upcoming Federal Legistative Rules
  • March - Counseling Split Borrowers
  • April - April is Financial Literacy Month!
  • May - Financing Options for Paying the College Bill
  • June - How to Make Your Web Site Useful to Students

Wednesday Webinars are recorded for those who cannot attend the live session. All of our Webinars and other presentations are available on the training page of our web site.

If you are interested in a topic not listed above, please contact Mary Dyer.  We are happy to create custom presentations and/or schedule a training for you.

 

EPIC

 

FAME will process Fall payments until December 2, 2010 for the State of Maine Grant Program. Fall and Spring certification will re-open on January 3, 2011. This break in processing is needed for the annual processing of 1099Q forms that must be sent to students who received funds for calendar year 2010. Institutions may still certify students for programs other than the State of Maine Grant after December 2, 2010 but payments for these other programs will not be processed until January 3, 2011.

 

 Election Update
 

Governor's race

 

Waterville's Republican mayor, Paul LePage, is Maine's Governor-elect.  He claimed 38.3% of the vote on Election Day, compared with 36.5% for independent Eliot Cutler and 19.1% for Democrat Libby Mitchell, according to unofficial results.

 

LePage will be Maine's first Republican governor in nearly twenty years (since John R. McKernan, Jr.).  Also, Gov-elect LePage will assume office as a Republican chief executive with the support of a Republican-controlled Legislature, a first since the mid-1960s.

 

Governor-elect LePage also will be the state's first Franco governor in more than 100 years, since Democrat Alonzo Garcelon of Lewiston, who was governor in 1879.

 

Governor-elect LePage recently announced the co-chairs of his transition team:  Tarren Bragdon, former legislator and current head of the Maine Heritage Policy Center; Ann Robinson, Esq., a partner with the law firm Preti Flaherty and former counsel to the Maine Republican Party; and John Butera, executive director of the Central Maine Growth Council.  Additionally, the Governor-elect has announced that John McGough, former Waterville deputy city manager and a current South Portland city administrator, will be his chief of staff.

 

 

Legislature

 

According to still unofficial results, the Republican Party will now hold 20 seats in the Senate, Democrats will have 14, and there is one unenrolled senator (Dick Woodbury of Yarmouth).  In the House, Republicans will hold 78 seats and Democrats will hold 72.  There is one unenrolled representative (Ben Chipman of Portland), and two recounts are underway.

 

The shift of power in Maine's Senate and House of Representatives means, as well, that Republicans will control important leadership positions, such as Speaker of the House, Senate President, and committee chairs, and that there likely will be new constitutional officers (Attorney General, Secretary of State, and State Treasurer).

 

Newly-elected senators have held leadership elections. For majority Republicans, Kevin Raye of Perry will be the new Senate President.  Jonathan Courtney of Springvale will be the new Majority Leader, while Debra Plowman of Hampden will be the assistant majority leader.  For Democrats, Barry Hobbins of Saco will be the minority leader and Justin Alfond of Portland will be assistant minority leader.

 

In the House, Republicans have nominated Robert Nutting of Oakland to be the next Speaker.  Phil Curtis of Madison and Andre Cushing of Hampden will serve as the Majority Leader and Assistant Majority Leader, respectively.  Democrats have chosen Emily Cain of Orono and Theresa Hayes of Buckfield as floor leaders.

 

The First Regular Session of the 125th Maine Legislature will convene on Wednesday, December 1, 2010, at 10:00 a.m.



Here are links to the unofficial legislative election results:

http://www.maine.gov/legis/house/125cand/apparwin.htm   

http://www.maine.gov/legis/senate/senators/candidates/ApparentWinnerList2010.pdf

 

 

 Other races

Congress (First District):  Incumbent Democrat Chellie Pingree defeated Republican challenger Dean Scontras with 57% to 43% of vote.

 

Congress (Second District):  Incumbent Democrat Mike Michaud defeated Republican challenger Jason Levesque by a margin of 55% to 45%.

 

 

Other results

 

Question 1:  By a narrow margin of 50.7% in favor and 49.3% opposed, Maine voters on Tuesday approved a resort casino for Oxford County, a decision that may be challenged in court.

 

Question 2:  Bond to increase access to dental care passed 51% to 49%.

 

Question 3:  Land conservation bond passed 59% to 41%.

 

 

 State Budget Update

 

Although numbers won't be final for a couple of weeks, state officials are expecting the current $26 million state budget revenue surplus to at least double in size as corporate tax revenues continue to outpace projections.  Corporate payments are coming in better than projected, and corporate tax refunds are below estimates.  The two largest sources of state revenues, the personal income tax and the sales tax, are showing slow growth, however.

 

Gov.-elect LePage recently named a slate of advisors to help put together a budget for the next biennium.  The bipartisan group includes former Rep. Sawin Millett; former DAFS Commissioner Ryan Low; former Sen. Peter Mills; Bragdon, and other former legislators.

 

The next budget shortfall is projected to be $1.2 billion.  That number could be reduced next week when the state's Revenue Forecasting Committee meets to estimate revenue totals for the two-year period.  Also, the $1.2 billion projection includes an assumption that the state will fund 55 percent of the cost of schools statewide, which is unlikely.

 

If the state funded all agencies at current levels, there would be a $514 million deficit, largely due to lagging state revenues and increased health care costs.

 

The Governor's proposed budget is due to the Legislature by Feb. 11, 2011.

 

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