AUGUSTA — At their annual meeting and awards celebration held at Lewiston’s Franco Center on September 13, 2024, the Maine Development Foundation (MDF) presented the Finance Authority of Maine’s (FAME’s) College Access and Financial Education (CAFE) Team with their Champion of Education and Workforce Development Award.

MDF’s awards this year recognize individuals, businesses, and community groups for demonstrating exceptional leadership and dedication to strengthening the state’s economy and/or their community with efforts to attract and/or retain young people in Maine.

FAME’s CAFE Team provides comprehensive college access and financial education services to students, families, counselors, and advisors through a variety of college access, financial aid, financial education, and education debt management services that support higher education aspirations and attainment in Maine.

Martha Johnston, FAME’s Director of Education, accepted the award on behalf of the team and noted: 

“Each day, and many, many nights, FAME’s College Access Team hits the road literally and virtually to help Maine students and families learn about saving for higher ed, completing and filing the FAFSA, wise borrowing, and navigation of student loan processes, and student loan repayment. We believe in the transformative power of education beyond high school to benefit someone’s personal economic prospects as well as those of the state of Maine, a place we all love and call home.”

Helping students and families prepare to file for financial aid and supporting them through the entire process is a primary focus for FAME’s College Access Team. In FY 24 alone, the team coordinated and participated in:

• 232 financial aid information sessions and workshops for over 6,800 Maine students and families;
• 77 training workshops for over 4,800 counselors and advisors
• 41 workshops attended by 537 individuals to help students complete the Free Application for Federal Student Aid (FAFSA); and 
• 129 financial wellness events for 6,500 students.

Because it was such a challenging year for FAFSA completion due to problems with the roll-out of the new form by the U.S. Department of Education, FAME’s team worked extra hard through the summer and, as of the end of August, helped to increase the FAFSA completion rate for Maine high school seniors from the Class of 2024 nine full percentage points to over 61%.

Johnston also extended FAME’s appreciation to the many partners who contribute to the success of the team, especially Maine’s school counselors and other trusted professionals who share information about FAME events and available resources, as well as Maine’s institutions of higher education, public and private. 

The Finance Authority of Maine (FAME) is a quasi-independent state agency whose mission is to enrich business and educational outcomes through relevant, timely financial support to Maine’s people. Our vision is a Maine where all people have access to improved economic outcomes through business growth and education attainment. To learn more about FAME, please visit www.famemaine.com.

The Maine Development Foundation (MDF) is a non-partisan, statewide driver of equitable, inclusive, and sustainable economic growth in Maine. MDF connects people, decision-makers, and communities though trusted research, leadership development, and creative partnerships to stimulate new ideas, solve problems, and improve lives. To learn more about MDF, please visit www.mdf.org.