New Law Helps Make College More Affordable For Maine Graduates This Fall
Some good news for high school seniors heading off to college.A bill passed by lawmakers makes it easier for Maine students to afford their education.The measure gives the Finance Authority of Maine (FAME) the ability to partner with Maine’s banks and credit unions to offer more affordable student loans.The bill also aims to help students become more financially literate before they head off to college.Senator Emily Cain, a Penobscot County Democrat, says her bill provides more options for students who are struggling to pay for college. “As legislators, and as a state, we need to do everything we can to make sure people have the most options,” Cain said Wednesday. “So they have scholarships, they have federal loans, and grant programs. But this gives us one more tool in the tool box for families and for students to make college that much more attainable financially right now.”Governor LePage did not sign the bill so it went into effect without his signature after the ten day waiting period.It took effect Tuesday at midnight.