Finance Authority of Maine

Individuals who are losing income because of the coronavirus will now have the option of borrowing up to $5,000 per month for up to three months, using an emergency consumer lending program that state legislators approved earlier this week.

The Finance Authority of Maine will hold workshops in January to help students pursuing higher education apply for financial aid.

Over the course of two weeks, FAME will hold 22 workshops to help students complete what's called the Free Application for Federal Student Aid, or FAFSA.

FAME's Mila Tappan says FAFSA is how eligibility for all federal financial aid is determined as well as for the Maine State Grant.

HARTLAND, Maine — More states are increasingly turning to children's savings accounts as a way of promoting a "college-going" culture and reducing student loan debt over the long term.

Maine is recognized as a national leader on this front.

But getting large numbers of families in the state, especially low-income ones, to save for their youngest members has been a challenge.

FAME Scales Down Loan for Great Northern Owner

Apr 22, 2014
The Great Northern Paper mill in East Millinocket, Maine. /

There's more uncertainty surrounding the forest products industry in the Katahdin region today, after the Finance Authority of Maine approved a smaller-than-expected loan for a start-up business at the site of the old paper mill in Millinocket. Thermogen Industries wants to develop a wood pellet plant there. And its parent company, Cate Street Capital, originally secured a $25 million loan for the project. But Cate Street's ongoing financial problems prompted FAME's board to reconsider.