As thousands of Maine high school seniors prepare to head to college in the fall, parents and students are trying to figure out how to pay for college in these trying economic times. Most students will hope for some financial aid to help ease the burden, and many plan to utilize Federal Student Loans to help lighten the load. With credit markets tight and some major student lenders exiting the Federal Loan Program, schools, students and parents have begun asking, “Who will give me a loan in the fall?” Once again, Maine’s community lenders have demonstrated their commitment to Maine families by offering the Maine Advantage Education Loan Program. The Maine Advantage offers Stafford, PLUS and Graduate Student Loans that are provided by Maine Lenders, for Maine Students and the loans are serviced here in Maine.

“We are so pleased that our lenders have agreed to support the program again this year. We appreciate their commitment to student loans during these difficult times when many lenders have exited the program due to profitability concerns. It really demonstrates the Maine Difference and the Maine community lenders’ commitment to Maine Families,” said Jill Parker, Senior Vice President of Operations at FISC, the Maine Advantage Servicer.

“Experience also tells us that in times of a recession, more adults will return to college for continuing education to improve their job security. The Maine Advantage is pleased to work with Maine’s community colleges to make loans available to both traditional and non traditional students.” Parker concluded by stating, “This is great news for all Maine families.”

The Maine Advantage Program is offered to Maine students attending colleges and universities throughout the country. Last year, Maine Advantage Lenders provided over $15 million dollars in student loans to Maine families. Students who are interested in a Maine Advantage Education Loan or those who have questions about financial aid, can visit the Maine Advantage Web site at www.Maineadvantage.com.