PORTLAND, Maine — The Libra Foundation is cutting summer camp scholarships to public school students in Lewiston, Portland and Bangor in half because of endowment losses.
President Owen Wells said the foundation is feeling the effects of the economic downturn and stock market woes just like everyone else. The result: Scholarships are being cut from $1,000 to $500 for eligible children in the three cities.
It comes at a bad time for camps. Already, summer camps across New England are anticipating possible lower enrollment as families struggle to make ends meet.