It is with deep regret that effective March 31, 2009, Maine Education Services (MES) is suspending all Federal education loans, including the Stafford Loan for undergraduate and graduate students, PLUS, and Graduate PLUS. The unprecedented capital market conditions throughout the past several months have clearly impacted the student loan market, affecting students, schools and lenders.

We diligently explored all avenues of possible funding but unfortunately were unable to secure additional funding for our Federal education loan programs for 2009-2010.

We are in the process of reviewing all incomplete applications in an effort to ensure disbursements by March 31, 2009. Any loans still unresolved by this date will be cancelled. As a result of the March 31st disbursement deadline, we will be unable to accept or process new loan applications after close of business on March 13, 2009.

MES is making this announcement now so that schools, students and their families who were planning to borrow a federal education loan from MES have the time to make alternative plans for the fall 2009 semester.

It is unfortunate that we have been forced to make this decision and apologize for any inconvenience this may cause. Our commitment to Maine schools and students has always been our first priority and this decision was a most difficult one. Students and families should contact the Financial Aid office at their college or university for assistance in securing the financial aid you need through another lender.