FAME recently presented its bill, L.D. 209, Resolve, To Establish a Stakeholder Group to Review the Maine State Grant Program, to the Education Committee.  The bill, sponsored by Sen. Justin Alfond, authorizes FAME to coordinate a review of the program that includes the participation of a stakeholder group of higher education policy makers, agencies, institutions, students and financial aid administrators in the state and report to the Education Committee with recommendations by December 1, 2011.

These stakeholders include representatives from the Department of Education; the University of Maine System, the Maine Community College System; Maine's private higher education institutions; a Maine student; a representative from the Maine Compact for Higher Education; a representative from the Maine Association of Student Financial Aid Administrators; a representative of the Senator George J. Mitchell Scholarship Research Institute; a legislator from this committee; and other interested parties.

The stakeholder group's duties would include:  (1) a review of the history and efficacy of the program and any necessary changes; (2) ideas to enhance the program in light of current and future higher education trends and needs; (3) options to increase funding for the program in the face of increased higher education costs and declining state funding; and (4) current and future grant and financial aid needs of Maine students and families.

A work session on the bill is slated for Thursday, February 24 at 9:00 a.m. at the Education Committee.

Did you know that FAME's College Access and Financial Education Group provides student financial aid, career resources, and money management information to Maine residents who are seeking a new start on life?  Presenting workshops to those who are in transitional stages of their lives offers positive change and hope for the future and we're excited to be part of this opportunity.

During the past six weeks, we have worked with residents at the Serenity House in Portland and at the Central Maine Pre-Release Center in Hallowell.  Altogether we have provided financial aid and financial education information to more than 55 residents in the two programs.

For more information, contact Pam Crate, College Access Counselor for Adult Students.   

The FAME Board of Directors adopted changes to Chapter 611 of the Rules of the Finance Authority of Maine at the February board meeting.  These changes are effective for Maine accounts opened on or after January 1, 2011 for new beneficiaries and will result in the following benefits.  There are no income limitations to receive any of these grants, and an eligible account may receive all three grants in the same year.

Initial Matching Grant (IMG)

Accounts opened with $50 will receive a grant in an amount to be determined annually by FAME.  For 2011, the IMG is $200.  The IMG is not available to families who are eligible for the Harold Alfond College Challenge grant.  

Annual Matching Grant (AMG)

For 2011, the AMG is equal to one-third of amounts contributed during the first two years of account opening, up to $400 maximum.  

Automated Funding Grant (AFG)

Accounts opting to use any automated funding service are eligible for a one-time grant.  The amount of the grant will be determined annually.  For 2011, the grant is $50.

The Harold Alfond College Challenge will be hosting two Casting Calls in April and you're invited! Come see hundreds of babies at the Bangor Mall on April 9 from 10 a.m. to 2 p.m. and at the Wyndham Hotel in South Portland on April 16 from 10 a.m. to 2 p.m.

The Casting Calls are a great way to reach families who want help with completing the paperwork to open their NextGen account and receive the $500 Alfond Grant. All Maine resident babies under one year of age are welcome to attend and will receive a free professional photograph and the opportunity to be in future Alfond Grant marketing.

Information about the program and Casting Calls can be found online at: www.500forbaby.org

Governor LePage recently introduced a two-year budget that addresses an expected $800 million shortfall.  The budget willcut benefits for retired state employees and teachers, increase aid to education, cut taxes and reform the state's welfare system.

Regarding FAME, the budget proposes to increase by $100,000 over the biennium funding to student financial assistance programs, largely the Maine State Grant.  It also proposes to restore a cut of $125,445 to the Doctors for Maine's Future Scholarship Program made in the recently passed Supplemental Budget.

FAME-administered programs funded through the Fund for a Healthy Maine are not proposed for funding over the next biennium, however.  These include:  Health Education Centers; the Maine Dental Education Loan and Loan Repayment Programs; and the Quality Child Care Education Scholarship Program.

The budget will go to the Legislature's Appropriations Committee for public hearings that are expected to start within the next few weeks.

Governor LePage also announced his nominee for commissioner of Education.  Stephen Bowen, current education policy advisor to the Governor and former analyst at the Maine Heritage Policy Center, is his choice to lead the department.  A public hearing on the nomination by the Legislature's Education Committee will be held in the near future.