For the second year in a row, the Finance Authority of Maine (FAME) has been named as one of the Best Places to Work in Maine. The awards program was created in 2006 and is a project of the Society for Human Resource Management–Maine State Council and Best Companies Group. Partners endorsing the program include: Mainebiz, the Maine State Chamber of Commerce, and Maine HR Convention. This statewide survey and awards program was designed to identify, recognize and honor the best places of employment in Maine, benefiting the state’s economy, its workforce and businesses. The 2016 Best Places to Work in Maine list is made up of 75 companies in three size categories: small (15-49 U.S. employees), medium (50-249 U.S. employees), and large (250+ U.S. employees). FAME was selected once again as part of the small employer category. “We are pleased and honored to receive this designation for a second year in a row, which confirms what we’ve known all along: FAME is a special place to work due to its unique, can-do mission and its terrific staff and board, all of whom are dedicated to expanding economic and educational opportunities for all Maine citizens,” stated Bruce Wagner, FAME’s Chief Executive Officer. Companies from across the state competed in the two-part process to determine the Best Places to Work in Maine. The first part consisted of evaluating each nominated company’s workplace policies, practices, and demographics. The second part consisted of an employee survey to measure the employee experience. The combined scores determined the top companies and the final rankings. Best Companies Group managed the overall registration and survey process in Maine, and also analyzed the data and used their expertise to determine the final rankings. FAME will be recognized and honored at the Best Places to Work in Maine awards ceremony on October 4, 2016, and will be profiled in a special publication by Mainebiz. The final rankings will be announced at the event. For more information on the Best Places to Work in Maine program, please visit www.BestPlacestoWorkinME.com or contact Jackie Miller at 877-455-2159.

The Finance Authority of Maine (FAME) has approved financing for three growing Maine businesses engaged in food and beverage manufacturing, processing, and wholesale retail: Gelato Fiasco; Otto Pizza; and Bigelow Brewing Company. FAME has provided a direct loan of $200,000 and loan insurance on two loans totaling $1,272,000 through Camden National Bank to Gelato Fiasco Castle Holdings, LLC and The Gelato Fiasco, Inc., d/b/a Gelato Fiasco. The company, which opened in 2007, produces and sells gelato at its stores in Portland and Brunswick, and in more than 4,000 grocery stores across 47 U.S. states. Gelato flavors are made with milk from Maine family farms, cane sugar, and genuine fruits, nuts, chocolates, and confections. The company’s founders are Joshua Davis and Bruno Tropeano. Additionally, the company benefited in its early stages from the FAME-administered Seed Capital Tax Credit, which encouraged equity and near-equity investments in the business, directly and through private venture capital funds. FAME’s assistance helped the company create and retain approximately eighty jobs. “Gelato Fiasco is grateful to have enjoyed FAME’s support along the way as our business grows and succeeds,” stated Joshua Davis, co-founder and CEO. “FAME’s financing has allowed us to lower our costs of borrowing and expand operations and fund necessary equipment purchases.” FAME also has provided a $490,000 direct loan to Oscar Pizza, LLC & Mashed, LLC, d/b/a Otto Pizza. Otto Pizza has been serving pizza to customers since 2009. Owned and operated by chefs and business partners Anthony Allen and Mike Keon, the company originally operated in Portland but has since expanded, now operating at five locations in Maine—in Portland (2), South Portland (2), and Yarmouth (1)–and five locations in Massachusetts. The financing was used to provide working capital and fund expansion of the business. FAME’s assistance helped to create and retain eighty-eight jobs. Bigelow Brewing Company operates out of Skowhegan and employs seven individuals. FAME partnered with Franklin Savings Bank to insure the $490,000 loan. Funds allowed the company to purchase additional equipment and grow the existing business, adding five additional full-time employees. Seven Maine jobs were created and retained as a result of the financing. The company’s owners are Jeffrey Powers and Pamela James-Powers. All three businesses partner when possible with Maine farmers to provide fresh, quality, locally-sourced ingredients for their products. “FAME has been proud to support these companies’ growth and success,” stated FAME Board Chair Raymond Nowak. “Whether the capital was needed for start-up, expanded locations, or additional manufacturing capacity, FAME has been there to provide access to capital to help grow Maine’s economy. We are especially pleased that these businesses partner with Maine farmers to provide quality, locally-sourced products.” FAME’s direct loan program, now referred to as the FAME Direct Loan (formerly known as the Economic Recovery Loan), provides new or existing businesses with flexible gap financing up to $1 million. FAME’s Commercial Loan Insurance Program insures a portion of a loan to a business made by a participating financial institution. For a business, it may mean the difference between obtaining a loan or never getting the opportunity to start a business. FAME is a quasi-independent state agency that provides innovative financial solutions to help Maine people and businesses pursue educational and business opportunities.

FAME announced today that it has developed a new online tool called TheLoanforME.com, designed to be a useful local student loan resource for Maine borrowers.* In an unprecedented partnership, FAME and the Maine Private Education Loan Network – a group of eight lenders from around the state – have combined their expertise and resources to help Maine residents secure education loans. Together, they have created TheLoanforME.com. The goal of the online tool is to help families become more informed when it comes to student loan borrowing. Primary audiences for the new tool include families who need to close the gap between what they have saved for higher education and any financial aid, grants or scholarships awarded, and those seeking to refinance their student loan debt. Visitors to the website will find a wide range of helpful information and tools, including:

• Things to consider (and steps to take) before borrowing
• A student loan calculator
• Informational videos
• Loan comparisons and things to look for from a lender
• Ideas on how to borrow less
• Frequently asked questions

The average student debt in Maine is $31,000. About 68% of Maine students rely on student loans to pay for college, according to a recent Maine State Chamber of Commerce and Educate Maine policy paper entitled, “On Strategies to Make College More Affordable.” For most families, there is a gap between what has been saved and what is required for college expenses. Once all of the financial aid and federal loans have been exhausted, if there is still a gap, credit-based private student loans may be the best solution for borrowers attending and ultimately graduating from college. “FAME understands that Maine families need help navigating the world of borrowing for college, so we’re excited to unveil this new resource, which represents a unique collaboration between FAME and eight local Maine lenders,” said Martha Johnston, Director of Education at FAME. “Every year FAME receives thousands of calls from families who are trying to determine how to pay for college,” continued Johnston. “They often need help bridging the gap between what they have saved and the actual cost of attendance. Our team is here to help them in person, over the phone, and now through this new online tool. Our goal is simple – we want Mainers to be informed borrowers so they can find the best fit for their individual or family financial circumstances.” FAME employs a team of financial aid experts who have worked with families for years and who understand the range of information families are seeking when they start the journey of saving and/or paying for college, and then later, when they need assistance repaying their student loan debt. FAME has many years of experience being Maine’s trusted resource when it comes to college saving, financial literacy, and borrowing smarter. “Our job is to help Maine people get the best possible information when it comes to financing higher education,” said Johnston. “Our goal is to assist individuals, and thereby the state of Maine, forge a strong economic future. This includes making higher education possible and attainable with the lowest possible debt.” *Eligible borrowers are either Maine residents or students attending an eligible Maine institution; additional eligibility is available for refinance borrowers.

About the Maine Private Education Loan Network

Lenders participating in the network include Bath Savings, Bangor Savings Bank, Camden National Bank, cPort Credit Union, Maine State Credit Union, Seaboard Federal Credit Union, and University Credit Union.

Nearly 16,000 Maine families will receive over $4.2 million in grants

The Finance Authority of Maine (FAME) announced today that 2015 was a record-breaking year for Maine residents who received matching grants based on their contributions to a NextGen College Investing Plan® account. “It was a banner year, with nearly 16,000 families receiving grants for higher education,” said Bruce Wagner, CEO of FAME. “FAME is investing in the future of Maine by helping families attain their higher education goals. We believe we are on the cusp of an exciting new era of expanded college savings in Maine,” he added. “More Mainers than ever are saving for higher education, opening approximately 5,000 new NextGen® accounts each year.” According to research published in the American Journal of Education, children with college savings are six times more likely to go on to college, and low-income students with just $500 or less in college savings are four-times more likely to graduate¹. Research shows that a higher education attainment translates into more job opportunities², better health³ and less unemployment³. Wagner attributes the recent success in Maine to a variety of factors, designed to inspire Maine families to invest in their children’s future. FAME was able to increase the 50% NextStep Matching Grant maximum annual match per year from $100 to $300 and to increase the Automated Funding Grant, a one-time grant, from $50 to $100 for eligible accounts that have automatic contributions set up through payroll deduction or from a checking or savings account. “We’d been intending to open NextGen accounts and start contributing regularly for a couple years. Once we heard about the expanded grants, we wasted no more time and opened accounts for our two children. The grants are a great bonus,” said NextGen account owner Brian Farr. Another prominent factor is the $500 Harold Alfond College Challenge Grant (Alfond Grant), which is now universally available to resident Maine babies. The Alfond Scholarship Foundation automatically invests $500 for every baby born a Maine resident for future higher education expenses⁴. NextGen accounts for children awarded the $500 Alfond Grant may be opened without making an initial contribution. No matter how a NextGen account is opened, either with the Alfond Grant or with an initial contribution, eligible Maine accounts can receive the annual NextStep Matching Grant, and the Automated Funding Grant (See Terms and Conditions for Maine Grant Programs for further details). “FAME’s working relationships with Merrill Lynch, Pierce, Fenner & Smith Incorporated, the program manager, and the Alfond Scholarship Foundation are the foundation for building an exciting new culture of investing in the future of Maine. With help from other interested organizations like employers, schools and colleges, we feel confident that together we can increase awareness of the power of higher education and help change the future of Maine,” said Wagner. “We know that helping our customers and employees invest in their families can be powerful. And encouraging higher education for them makes sense for our future and theirs. So we let as many families as we can know about NextGen and college savings as a benefit for all Maine residents – including children and adult learners,” said Melissa Moffett, VP Customer Service, Machias Savings Bank. FAME is pleased to announce other 2015 highlights, including:

• Nearly 45,000 Maine children are the beneficiaries of NextGen accounts
• Nearly 14,000 Maine accounts made contributions this year, and 29,560 Maine families have been awarded matching grants for annual contributions since the inception of matching grants in 2002
• Approximately 1,400 Maine families started auto-funding their accounts in 2015 and received the $100 Automated Funding Grant

FAME understands that setting aside money for higher education can be difficult for many families, but it is important to remember that every dollar in a college investing account at tuition time is one that does not need to be borrowed and repaid with interest later. “The amount that someone sets aside may be less important than the actual act of regularly investing in your child’s future,” said Wagner. For more information on NextGen, please visit NextGenforME.com. ¹Elliott & Beverly, 2011; American Journal of Education. ²The Georgetown University Center on Education and the Workforce 2010 ³U.S. Census Bureau ⁴Children born as Maine residents since January 1, 2013 or who are Maine residents at account opening and under the age of one. The Alfond Grant is not automatic in all circumstances and is also available in limited other circumstances. The use of the Alfond Grant is also subject to certain restrictions ‐ see Guidelines at 500forbaby.org. About NextGen NextGen is a Section 529 plan administered by the Finance Authority of Maine (FAME). Before you invest in NextGen, request a NextGen Program Description from your Merrill Lynch Financial Advisor or Maine Distribution Agent or call Merrill Edge at 1-877-4-NEXTGEN (877-463-9843) and read it carefully. The Program Description contains more complete information, including investment objectives, charges, expenses and risks of investing in NextGen, which you should carefully consider before investing. You also should consider whether your or your designated beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state’s Section 529 plan. Merrill Lynch, Pierce, Fenner & Smith Incorporated, a registered broker-dealer, member SIPC, is the program manager and underwriter. ARGR47L5

60% of Full-Time Enrollees Completed College

Family Income Strongly Correlated with College Completion The Finance Authority of Maine (FAME) has released the results of its Maine State Grant College Completion Study, which was undertaken as a result of a grant it received from the New England Board of Higher Education (NEBHE). The report measured a variety of student criteria, including college completion rates, financial need, institutional enrollment, and ages of grantees. The study was authored by Lisa Plimpton of Plimpton Research and is available to view and/or download here. Administered by FAME, the Maine State Grant Program is the state’s need-based undergraduate grant program. It is funded largely through state appropriations with additional financial support from the NextGen College Investing Plan®, Maine’s Section 529 College Savings Plan. The grant is awarded annually to approximately 16,000 Maine students. Students apply using the Free Application for Federal Student Aid (FAFSA). Award levels for academic year 2015-16 are $1,500 for full-time study at Maine institutions (public and private) and $750 for part-time study. The completion report is based on a study of financial aid application data provided by FAME and linked with college enrollment and degree data from the National Student Clearinghouse. The study tracked student outcomes of approximately 31,000 grant recipients who were enrolled in college between January 2005 and September 2014. The study found that Maine State Grant recipients had higher rates of degree completion than did their peers in Maine and in the nation. “This study demonstrates the importance of the Maine State Grant in helping to make higher education affordable and accessible for many Mainers,” stated Bruce Wagner, FAME’s Chief Executive Officer. “The grant is an essential piece of the financial aid package for many students and families, and we are pleased to learn of the strong completion rates for grant recipients. There is an ongoing need for increased state funding for this vital grant.” Key findings from the study included:

• College completion among students who initially enrolled part-time averaged 47%, compared with 60% of full-time enrollees.
• 44% of students who initially enrolled in two-year institutions completed a college degree, compared with 61% of enrollees in four-year colleges and universities.
• Students who receive the Maine State Grant demonstrate strong financial need with low family incomes and few, if any, family resources available to pay for college. Most grantees had Expected Family Contributions (EFCs) of less than $1,000 (62%) and annual family incomes below $20,000 (56%).
• Economic disadvantage is associated with lower rates of college enrollment and college completion. 43% of students with $0 EFCs for college completed a degree, compared with 72% of students with EFCs of $5,000 or higher.
• Nontraditional or adult learners comprised a surprisingly high percentage of grantees, 44%
• 82% of Maine State Grantees initially enrolled at public colleges and universities, and 70% first enrolled at four-year institutions. About three in five students (59%) enrolled at only one higher education institution, and two in five (41%) enrolled in two or more different institutions during the study period.
• Most students in the study (56%) started college between the ages of 18 and 22, while a strong minority of 44% was over the age of 23 for their first enrollment term during the study period.

“FAME is pleased to learn of the higher than expected completion rates for our grantees, especially considering the financial challenges they face,” stated Wagner. “It is clear to us that if we want to promote college completion and reduce student debt, greater state support for the Maine State Grant is essential.” The report makes several recommendations for consideration by Maine policymakers and higher education institutions:

1. Higher grant awards, financial aid counseling, and other support programs could be targeted for students with the lowest college completion rates.
2. A guarantee of continued Maine State Grant support—contingent on staying enrolled rather than on continuing to meet financial aid application deadlines and EFC cutoffs—might help to improve completion rates for Maine college students with the greatest financial need.
3. College completion incentive grants targeted at adults who are already part-way to a college degree might help more students finish college, and also bring Maine closer to its postsecondary education attainment goals.

“We look forward to discussing the report’s findings and recommendations with policymakers and other partners as we explore how best to move forward to help ensure a bright economic future for the state with a well-trained workforce,” added Wagner. FAME is a quasi-independent state agency that provides innovative financial solutions to help Maine citizens pursue businesses and educational opportunities. FAME helps to lead the creation of quality jobs for Maine citizens by working at the nexus between economic and workforce development.

FAME to Host 22 Statewide Free In-Person Events to Help Students Heading to College Complete the FAFSA

Events Give Maine Families Access to Experienced Financial Aid Experts and Support in Completing the Form FAME announced today that help is available to Maine students and families seeking financial aid for higher education. Throughout the state for two weeks in January, FAME plans to hold 22 In-Person FAFSA Help Sessions where experienced financial aid experts will be on hand to help families complete the application on the spot. A complete listing of dates and locations is available at FAMEmaine.com. The FAFSA is the federal application that all schools use to determine student eligibility for federal financial aid. The form for the 2016-2017 school year becomes available on January 1, 2016, and can be found at FAFSA.gov. According to FAME, only about 62% of Maine high school seniors completed the FAFSA by May 1 of last year. “As a result, many students left significant grant money on the table, while others missed out on financial aid completely,” said Martha Johnston, Director of Education at FAME. “We want to get the word out that every family sending a child off to college, trade, or technical school should complete the FAFSA, and we’re here to help them. Significant financial aid does exist and the earlier families apply the more aid they may be able to receive.” Johnston noted that families attending the sessions should bring the following information to the help sessions: • FSA ID – this user name and password is needed to access all Federal Student Aid websites, including the FAFSA. We recommend the student and one parent create it ahead of time at fsaid.ed.gov. • Social Security numbers (SSN) for student and parents • Information to estimate student and parents 2015 income – such as W-2 forms or last year’s Federal Income Tax Returns – and other records of money earned • Current bank statements for student and parents This marks the 12th year FAME has made these In-Person FAFSA Help Sessions available to Mainers. Over the years FAME has assisted more than 7,500 families through these events. Johnston also says that FAME hopes to help reduce Maine residents’ student loan debt. She adds that completing the FAFSA as early as possible, is one of the best ways to minimize student loan borrowing. Many students fail to complete the FAFSA, or submit it after critical deadlines. For example, some colleges have financial aid deadlines in February and March, and the FAFSA is used by FAME to award the Maine State Grant for all applicants who apply by May 1st. These students miss out on potential grants and end up borrowing more than they would have needed to. If families are not able to attend the in-person help sessions, FAME also offers online support. Families can also call FAME at 1-800-228-3734 with questions.

The Finance Authority of Maine (FAME) celebrated another year of successful business and educational partnerships at its annual meeting and awards event, Showcase Maine, which was held on November 19, 2015, at Portland’s Holiday Inn By The Bay. The evening featured a reception, including a showcase of exhibits by Maine businesses and educational organizations that partner with FAME; a dinner and awards presentation; and a keynote speech by ABC News Anchor Dan Harris. Harris is co-anchor of both Nightline and the weekend edition of Good Morning America on ABC News. He got his start as a television news reporter in Bangor and Portland at WLBZ-TV and WCSH-TV. He is also the author of 10% Happier, a #1 New York Times bestselling book about his experience with meditation. “FAME always enjoys celebrating the successes of the past year with our partners in Maine’s business and higher education communities,” said Ray Nowak, FAME’s Board Chair. “We were equally excited, however, to unveil our future plans for growth as we look forward to enhancing our role in helping to expand Maine’s economy.” This year’s award recipients included: Apothecary By Design (Business at Work for Maine Award): FAME partnered with Bangor Savings Bank to support Apothecary By Design from its earliest stages and is proud to have been a part of its remarkable success. The company offers specialized pharmacy services built on advanced clinical experience, cutting-edge pharmacology, and excellent customer service. FAME will recognize the company’s commitment to patient care, innovation, and growth in Maine and the nation’s healthcare industry.

Portland Adult Education (Education at Work for Maine Award): Portland Adult Education has been committed to increasing educational opportunities and financial literacy since 1850. The organization helps to foster self- sufficiency through education for area immigrant and refugee populations, as well as the greater community of southern Maine. Classes are accessible, frequently offered, low-cost, and provide a valuable resource for community members who strive to improve their quality of life and create a brighter future for their families.

Camden National Bank (Financial Institution of the Year Award): This is the bank’s sixth time as an awardee. Over the past year, Camden National partnered with FAME on 62 loans totaling over $22 million. This in turn helped to create 238 Maine jobs and retain an additional 445 jobs. In addition to being a top partner in bringing business to FAME, Camden National has grown remarkably in recent years and is actively committed to the community in which it operates. Machias Savings Bank (Community Financial Institution of the Year Award): Machias Savings Bank is being recognized in a new category for small to medium-size lenders. This past year, FAME partnered with Machias Savings on 54 loans to Maine companies totaling over $10 million. This helped to create 109 Maine jobs and retain an additional 307 jobs. Hon. Linda Valentino of York County (Dirigo Legislative Champion Award): Valentino, a state senator representing part of York County, is being recognized for her steadfast support of FAME’s mission. Over the years, she has successfully sponsored or cosponsored a number of bills related to FAME, including additional bond funding for its commercial loan insurance and regional economic development loan programs, as well as measures to enhance and extend the Maine Seed Capital Tax Credit and Maine State Grant Programs. Prior to the dinner and awards ceremony, the FAME Board met for its monthly meeting and elected officers for the 2016 year: Raymond Nowak of Brunswick was re-elected to serve as chair; James Violette, Jr. of Waterville was re-elected as vice-chair; and Cheri Walker of Falmouth was re-elected as treasurer.

FAME will celebrate another year of successful business and educational partnerships at its annual meeting and awards event, Showcase Maine, on Thursday, November 19, 2015, beginning at 4:30 p.m. at Portland’s Holiday Inn By The Bay. Showcase Maine is FAME’s annual celebration of its successful partnerships with Maine’s business, lending, and higher education communities. The evening will feature a reception, including a showcase of exhibits by Maine businesses and educational organizations that partner with FAME; a dinner and awards presentation; and a keynote speech by ABC News Anchor and former Maine television reporter Dan Harris. Harris is co-anchor of both Nightline and the weekend edition of Good Morning America on ABC News. He got his start as a television news reporter in Bangor and Portland at WLBZ and WCSH. He is also the author of 10% Happier, a #1 New York Times bestselling book about his experience with meditation. With meditation, also known as “mindfulness,” now being embraced by executives, athletes, educators and entertainers, Harris has become a leading voice for moving the practice into the mainstream. “FAME looks forward to celebrating the successes of the past year with our partners in Maine’s business and higher education communities,” said Bruce Wagner, FAME’s Chief Executive Officer. “We are eager to showcase our current partnerships with Maine businesses and educational organizations, and to honor our partners who help to make bright Maine’s economic and educational future.” This year’s award recipients include:

• Apothecary By Design (Business at Work for Maine Award): FAME partnered with Bangor Savings Bank to support Apothecary By Design from its earliest stages and is proud to have been a part of its remarkable success. The company offers specialized pharmacy services built on advanced clinical experience, cutting-edge pharmacology, and excellent customer service. FAME will recognize the company’s commitment to patient care, innovation, and growth in Maine and the nation’s healthcare industry.
• Portland Adult Education (Education at Work for Maine Award): Portland Adult Education has been committed to increasing educational opportunities and financial literacy since 1850. The organization helps to foster self- sufficiency through education for area immigrant and refugee populations, as well as the greater community of southern Maine. Classes are accessible, frequently offered, low-cost, and provide a valuable resource for community members who strive to improve their quality of life and create a brighter future for their families.
• Camden National Bank (Financial Institution of the Year Award): This is the bank’s sixth time as an awardee. Over the past year, Camden National partnered with FAME on 62 loans totaling over $22 million. This in turn helped to create 238 Maine jobs and retain an additional 445 jobs. In addition to being a top partner in bringing business to FAME, Camden National has grown remarkably in recent years and is actively committed to the community in which it operates.
• Machias Savings Bank (Community Financial Institution of the Year Award): Machias Savings Bank is being recognized in a new category for small to medium-size lenders. This past year, FAME partnered with Machias Savings on 54 loans to Maine companies totaling over $10 million. This helped to create 109 Maine jobs and retain an additional 307 jobs.
• Hon. Linda Valentino of York County (Dirigo Legislative Champion Award): Valentino, a state senator representing part of York County, is being recognized for her steadfast support of FAME’s mission of helping Maine people pursue business and educational opportunities. Over the years, she has successfully sponsored or cosponsored a number of bills related to FAME, including additional bond funding for our commercial loan insurance and regional economic development loan programs, as well as measures to enhance and extend the Maine Seed Capital Tax Credit and Maine State Grant Programs.

Three Maine Schools to Demonstrate Interactive Claim Your Future^® Game  FAME announced recently that it is making available to every Maine middle school a free interactive resource called Claim Your Future^®, which takes the form of a game and is designed to encourage students to explore career options with an eye toward future earning potential and increased financial literacy. The interactive game provides students with real-world spending and budgeting challenges and the opportunity to explore different levels of education to see how it translates into income potential. The game is part of a strategic initiative by FAME designed to increase awareness of career and college options, raise aspirational goals, and improve financial capability. To introduce the game to the Maine school community, last week FAME partnered with three public schools – Lincoln Middle School (Portland), Lewiston Middle School (Lewiston), and Glenburn School (near Bangor) – to demonstrate the Claim Your Future Game. FAME also has created an online component of the game so kids can play it outside of school. Schools interested in ordering Claim Your Future should visit ClaimYourFuture.com. “Now that kids are back in school, and classroom routines are more established, we wanted to let the entire Maine school community know we have an incredible free resource available to them,” said Mary Dyer, Financial Education Officer at FAME. “Claim Your Future supports existing curriculum while allowing students to understand the strong connection between the choices they make today and the opportunities available to them in the future. They will also learn that higher education leads to more career options and higher paying jobs.” Each year Lewiston Middle School 8th grade teacher Billie Jo Brito plans a transition event for her students heading off to high school. The event includes a visit to a college campus, speakers, a financial literacy workshop, and, more recently, game sessions with FAME. Brito said, “I want to help plant the seed and open their eyes to future possibilities while also exposing them to real world costs and what will be required to meet some of life’s essential expenses. Claim Your Future is truly an incredible resource, and now that we can have it in our classroom and lead our own sessions, we can keep the conversation going all year long. Over the years, I’ve found that it’s so important to keep bringing back the concept and make the conversation relevant for students because it clicks for everyone at different times.” According to Dyer, “Individuals who obtain a college degree are more likely to earn more money throughout their career and experience higher job satisfaction than those who only have a high school education.” The United States Census Bureau reported that individuals who achieved the following degree levels earned the following median annual salaries: PhD’s, $100,000 or more; master’s, $63,000; bachelor’s, $55,700; associate’s, $42,000; high school diploma, $32,500. In Maine, 37.8% of Maine residents 25 years or older have attained a degree higher than high school according to the U.S. Census Bureau 2013 American Community Survey.

How the Game is Played

In a classroom setting, teachers can assign each student one of 50 unique Claim Your Future game wheels, representing a specific career, college degree, and monthly salary. Educators are then encouraged to discuss various career and college options and lead students through a monthly budgeting activity. In an effort to encourage more Maine children to play the game and prepare for their future, FAME is now offering the game online at ClaimYourFuture.com. Students can select a career and navigate through different spending choices. They will also find descriptions of careers, key vocabulary, and various spending options. Students can also see a visual representation of how much money they’ve spent as they progress through the game.

Reaction from teachers

After receiving numerous requests from Maine educators, FAME responded swiftly to develop Claim Your Future, both the physical game and the online resource, in order to make it available to teachers across the state. Maine teachers and students have enthusiastically embraced the tool. “I’m so excited this resource is being made available to Maine school children,” said 4th/5th grade multiage class teacher Janet Ecker at Glenburn School near Bangor. “It will help students discover what kind of jobs are out there and give them a fun way to evaluate what they might want to do in life. It also shows them that if they go beyond high school, they have a better chance of earning more money. It puts them on a path to thinking, ‘I can do this, and I can start now.’” In Portland, 8^th grade Lincoln Middle School teacher Rhonda Mayer said, “We always scramble to get relevant resources and make learning real-life for kids. Students will respond well to this type of game because it’s interactive and fun. It also provides a valuable lesson and gets kids thinking about different career options and what’s needed for education, and the connection between that education and potential future income.”    Dyer noted, “It’s so exciting that Maine educators see value in this type of interactive learning tool. We’ve been amazed by the response and have even received interest from educators from outside of Maine – receiving more than 1,700 visitors from more than 35 countries to the website since it went live earlier this summer.” For the prior seven years, FAME offered a similar game called “Get a Life,” which representatives would bring into schools to work with students. With this new program and free game offer, teachers will now be able to lead the game and use it whenever they want. FAME has also made the following resources available to Maine educators:

• A training video
• An Educator’s Guide, which includes budget worksheets, a detailed lesson plan, homework activities, and additional resources
• Additional web resources to promote savings
• 125 unique careers, along with descriptions and key vocabulary
• A printable budget worksheet
• A printable certificate of completion

The Board of Directors of the Finance Authority of Maine (FAME) visited businesses and higher education institutions in Lincoln, Orono, and Bangor on October 14 and 15 to learn about their successes, needs and future plans. The Board also toured and held its monthly meeting at the United Technologies Center in Bangor. Members of the FAME Board and staff visited Lincoln Paper and Tissue, LLC and Gardner & Sons, Inc. in Lincoln to learn more about their operations and the regional forest products economy. FAME later toured and met with students at the University of Maine’s Foster Center for Student Innovation and the Advanced Manufacturing Center in Orono. Additionally, the Board toured and held its monthly meeting at the United Technologies Center (UTC) in Bangor, where one of its members, Greg Miller, serves as director. The center is one of Maine’s premier regional technical high schools, serving thirty-one communities. In addition to learning valuable skills, students attending UTC can obtain college credits through articulation and dual enrollment agreements such as the Bridge Year Program. Students thus may earn transferable college credits at a fraction of their regular cost while also completing their high school education. FAME was treated to a delicious lunch prepared by students participating in the center’s culinary arts/hospitality program. At FAME’s monthly meeting, the Board benefitted from a presentation on the state of Maine’s wood products industry by Peter Triandafillou, Vice President of Woodlands for Huber Resources Corp. The Board also adopted a permanent rule for the Maine New Markets Capital Investment Tax Credit Program banning the use of one-day loans. The Board also renewed commercial loan insurance on a Bangor Savings Bank facility for North Atlantic, Inc., a national wholesale importer and distributor of frozen seafood located in Portland. Area legislators, business leaders, and higher education officials joined FAME members for various stops along the two-day trip. Among these individuals were Rep. Sheldon Hanington of Lincoln; Rep. Victoria Kornfield of Bangor; University of Maine System Chancellor James Page; University of Maine System Board of Trustees Chair Samuel Collins; University of Maine President Susan Hunter; and Husson University Vice President of Enrollment and Management Jonathan Henry. FAME Board Chair Ray Nowak stated: “FAME really benefits from these opportunities to visit with local businesses, schools and students to learn firsthand about their work and success. We enjoy witnessing firsthand their success stories and learning about the needs and future plans of our business and higher education partners.”