FISC Solutions Announces Discontinuation of Maine Advantage Education Loan Program

Lewiston, ME, March 03, 2010 --( FISC Solutions, a provider of Student Loan Servicing to over 25 Community Banks and Credit Unions in Maine announced today the discontinuation of the Maine Advantage Education Loan Program.

The Maine Advantage was started in 1997 by a group of Maine Lenders and FISC to provide low cost Stafford and Plus Loans to Maine students and their families. During it’s 12 years of existence, the Maine Advantage assisted over 25,000 Maine Students in achieving their education goals. Recent Congressional action proposes to eliminate lender participation in the Federal Family Education Loan Program in favor of the William D. Ford Direct Loan Program. As a result of these proposals, most higher education institutions have already moved to the Direct Loan Program, eliminating the need for programs such as the Maine Advantage.

“FISC and our Lender clients have prided ourselves on providing low cost education loans to Maine people serviced right here in Maine for over 20 years. We are disappointed that we must discontinue the program, and it is unfortunate that community Maine lenders will no longer be able to offer this great product to their customers and members,” said Jill Parker, FISC’s Senior VP of Operations. “We will continue to service existing Maine Advantage Education Loans for our clients, and we are pleased to offer their borrowers superior service from a local company.”

The Maine Advantage Education Loan Program will discontinue accepting new applications after March 15, 2010. Borrowers who have loan applications in process with the Maine Advantage Education Loan Program should contact FISC at 1-800-782-5772 to confirm the status of their loan.

About FISC
Headquartered in Lewiston, Maine with offices in Portsmouth, New Hampshire, FISC has provided services and solutions to financial institutions, corporations and non-profits 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 or call 1.888.433.4924.

FISC Solutions
Jenny Caron
888-433-4924 ext 2111