UMM Student Receives Scholarship from Maine Higher Education Assistance Foundation


Machias, ME – The trustees of the Maine Higher Education Assistance Foundation are pleased to announce that a scholarship in the amount of $1,000 has been awarded to Beverly Weaver, a student at the University of Maine at Machias. Ms. Weaver is majoring in Business and Entrepreneurial Studies, and is a graduate of Machias Memorial High School.

The Maine Higher Education Assistance Foundation was established in the 1950’s to support a guarantee fund for student loans. The founders included a wide range of banks, businesses, community organizations, and individuals. In 1990, the MeHEAF trustees, the Maine Bankers Association’s Board of Directors, seeking to continue the original intent of the founding members, began a scholarship program funded by the return of the original loan guarantee funds.

This year the MeHEAF trustees have selected eleven Maine colleges and universities to receive scholarships. The participating school chooses student scholarship recipients. All student scholarship recipients must be in the second, third, or fourth year, must be a Maine high school graduate, must be majoring in a business related subject, must have good academic standing, and must have financial need. All scholarships are awarded for second semester expenses.

Since 1990, a total of $237,400 in scholarships has been awarded by MeHEAF. In 2008, an additional $11,000 will be awarded.

The Maine Higher Education Assistance Foundation is administered by the Maine Bankers Association and is located in Augusta at 132 State Street. Kathy Keneborus, Education and Compliance Manager, from the Maine Association of Community Banks made the presentation at UMM on December 8, 2008.

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