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FAME UpdateMASFAA Conference October 17-18, 2011
College Access and Financial Education
State Education Programs
NextGen College Investing Plan
Commercial Division
Today’s TopicsFAME Update
CAFÉ StaffFAME Update
Jessica Bernier, College Access Counselor Joined FAME September 19 Comes from YCCC Early College for ME Will cover Western and Southern Maine regions
Angela Dostie, CAFÉ Manager Mila Tappan, College Access Counselor (Northern
and Downeast) Pam Crate, College Access Counselor for Adult
Education Mary Dyer, Financial Education Specialist
FA101 – 6th year completed Signature training 140 registrants, 125 attendees Greg Darnieder, keynote speaker
ME Files the FAFSA One of only two states actively working with high
schools to help increase FAFSA filing rates IL is the other 58% for 2011 – 2012 60% goal for 2012 -2013, 85% goal for 2014-
2015 90% of those that file a FAFSA attend college
within 12 months!
FA101FAME Update
MCACG competitive sub-grants Award notifications sent mid-September Total Dollars Awarded: $675K
Thomas College and Eastern Maine Community College
Check FAMEmaine.com for other projects funded
Challenge ME Grant Early College Courses or AP Tests Guidelines
Income Pursuing high school or GED Eligible high schools and adult education centers
College Access and Persistence
College Access Challenge GrantFAME Update
Site request form new this year Sunday, January 29, 2012
8 – 10 sites that Sunday Computer access required
FAFSA labs Afternoons and evenings January, February, March 35 – 40 sites
Event format Sign-in Surveys Scholarships
College Goal Maine FAME Update
College Access Efforts FY11FAME Update
Participated in 384 events Helped complete 728 FAFSAs Trained 677 counselors and advisors Conducted 68 Financial Aid Night
presentations 53 during November and December alone
34,026 Maine citizens attended one of these events and 10,765 participated in a training or workshop.
In addition to the events listed above, there were 6 Casting Calls at which 692 applications were completed
Financial EducationFAME Update
Financial Literacy Advisory Council Group of 25+ stakeholders working in ME on financial
literacy FAME assisted in coordinating an inventory of efforts
in State
Mary Dyer has been asked to be the President of the Maine Jump $tart Coalition
FAME continues to partner with the Maine Office of Securities to offer the 3rd annual Financial Literacy Summit for Maine Educators – April 26, 2012. STAY TUNED for more information.
Default Prevention & Debt ManagementFAME Update
Early Intervention Program since inception 14,255 borrowers enrolled 12,504 in good standing = 87.7% of enrollees
FAME Cohort Default Rate 6.1% Held steady from prior year National average is 8.8%
At-risk students remain FAME focus High default rates Low graduation rates
Exploring collaboration in changing landscape MYF sponsorship discontinued Salary-Debt calculator on FAME site Three VFAs submitted by FAME
2011 – 2012 holding steady on EFC & projections 2010 – 2011
24,558 students assisted $15,244,594 ($10,630,340 appropriation)
Stakeholders Study Group Underway Broad Goal: ensure program is meeting the needs of
Maine students Student centric focus Persistence and completion
Report to Legislature due December 1 Statute modifications
State of Maine Grant ProgramFAME Update
GEAR UP Scholarship Last cohort of students eligible for the GEAR UP
scholarship entered college this Fall No new GEAR UP grants funded in Maine for this
round FAME is preparing for increased CAFÉ demands
John R. Justice Grant Program Loan repayment program for public service
attorneys Funded by Feds for year two Expect 15 renewals and 3 new awards
State Education ProgramsFAME Update
Other State Education ProgramsFinancial Aid Update
Educators for Maine Maine Health Professions
Loan GEAR UP Scholarship Doctors for Maine’s Future Dental Education Loans Dental Loan Repayment
$5,066,651 awarded in FY11
Successful Scholarship Partnerships
11 $1,000 scholarships annually Glenburn Elementary School
January 2011 Press Event Scholarship Criteria Announcement
NextGen College Investing PlanFAME Update
March 2011 – new matching grant programs
Eligible accounts opened after January 1, 2011
No income restrictions $200 Initial Matching Grant $400 NextStep Matching Grant $50 Automated Funding Grant
Harold Alfond College Challenge $500 baby grant 10,000th enrollee in July 2011
NextGen College Investing PlanFAME Update
Commercial Division FY11FAME Update
Economic Recovery
Potato Marketing Agricultural
Marketing Underground Oil
Storage Facility Regional
Economic Development Daycare
Energy Conservation
$7.5 million
$44.5 million in Commercial Loan Insurance (CLI)
Commercial Division FY11FAME Update
3,664 jobs created and/or retained
Variety of FAME programs designed to support businesses in Maine
Commercial Division FY11FAME Update
Maine Food Processing Grants For fishing and agricultural enterprises FAME awarded $975K Grants expected to help create and/or retain 165
jobs
State Small Business Credit Initiative (SSBCI) FAME Collaboration to write and administer this
grant $13.2 million in Federal funding to spur $132 in
additional small business lending Recapitalizing - Regional Economic Development
Revolving Loan Programs, FAME’s Economic Recovery Loan Program and Small Enterprise Growth Fund
www.FAMEmaine.com
Commercial Division NotablesFAME Update
Customer Service FY11FAME Update
Financial Planning Conference for Maine Professionals Holiday Inn by the Bay beginning at 9:00 a.m. Collaboration with NextGen and Maine Office of
Securities Thank you Andrea Cross and Peggy Crawford!
Showcase Maine Holiday Inn by the Bay beginning at 4:30 p.m. Bob Doll, Keynote speaker
Senior Managing Director, Chief Equity Strategist and Head of U.S. Large Cap series at BlackRock
BlackRock has $3.66 trillion assets under management Bob appears regularly on CNBC, Bloomberg and Fox
Business News
November 15, 2011FAME Update
Finance Authority of Maine5 Community Drive
P.O. Box 949Augusta, ME 04332
1-800-228-3734www.famemaine.com/education
Questions?FAMEUpdate
