FISC Lenders Commit to Offering Student Loans

Lewiston, ME, September 18, 2008 --(PR.com)-- A group of FISC lenders, both banks and credit unions, in Maine, have renewed their commitment to student lending to ensure that Maine families have options in regards to Stafford and PLUS Loans for the fall 2008 semester.

During the past year, changes in the Federal Family Education Loan (FFEL) Program have made the environment increasingly challenging for financial institutions. Recent changes to federal regulations as well as the on-going credit crunch has resulted in many large lenders scaling back their participation or dropping out of the FFEL Program altogether.

“Community lenders in Maine have always supported the FFEL Program through the Maine Advantage Education Loan Program and the HELPP Program,” said Jill Parker, Senior Vice President of Operations. “Through partnership with the Finance Authority of Maine, these lenders are truly making a difference to ensure that loans are available to Maine families in the fall.”

There are over 20 local lenders who currently participate in these loan programs. “These are loans originated in Maine, by Maine lenders and serviced by Maine people,” said Jill Parker. This commitment to the program is nothing new. The majority of these lenders have been participating in the FFEL Program for more than 20 years. “I just think it’s tremendous that when so many large national banks and student lending companies are backing away from this program due to profitability concerns, Maine lenders are jumping in with both feet. That’s what community lending is all about.”

To find out if your local lender participates in the program, visit www.maineadvantage.com

About FISC
Headquartered in Lewiston, Maine with offices in Portsmouth, New Hampshire, FISC has provided services and solutions to financial institutions and corporations for more than 30 years. The company designs and implements full-service outsourcing solutions that make the operations of financial, insurance, government, not-for-profit, and other organizations more efficient and more affordable. FISC’s core services include item processing and electronic clearing, software solutions, loan servicing, lockbox and disaster recovery services. In addition, FISC offers comprehensive statement and invoice printing, delivery, design and management. For more information, visit www.fiscsolutions.com or call 1.888.433.4924.

###