For Meredith Collins, public education was not very interesting.

Growing up in rural Maine, she was bored with school. To amuse herself, she made up lab reports. The only class she enjoyed was Latin, because her teacher was enthusiastic.

Most of the time, she found that education was like a prepackaged product.

"You're handed something, and if it's not what you want or what you need, you're out of luck," Miss Collins said.

When 72 Island students move to the new Martha's Vineyard Public Charter School this fall, they will take with them $370,000 from the budgets of other Island schools.

This figure is higher than expected, mainly because a key factor -- the average cost of education at existing schools -- has turned out to be greater than anticipated. State estimates of the average education costs at each Island school were released last week.

The Island's new charter school has received 91 admission applications for its first semester this fall, officials said this week.

Applications came from every Island town, plus Chappaquiddick, and represent all eligible age groups.

"I think it's exciting," said school board member Charlotte Costa. "We gave out 140-some applications. To get these back is pretty good, given that it's a new school and it's something different. I was happy with that."

Nearly a year has passed since the state approved a charter school here, establishing an alternative educational plan for Island families. This week, organizers of the school are inviting parents to consider and maybe choose this new option for their children.

Charter school board members will distribute applications and answer questions Tuesday afternoon at the Wintertide Coffeehouse. This session will run from 4 to 7:30 p.m. in an open house-style format, and parents who are interested in the school are urged to attend.

Betsy McIsaac, a long-time seasonal resident, heard that the Vineyard was getting a charter school when she read about it in the paper last summer.

Today, she is part of its educational advisory group. Because Mrs. McIsaac worked as a school administrator for 30 years, her expertise has been greatly appreciated by charter school organizers.

Founders of the Martha's Vineyard Charter School have come a long way and they candidly admit they still have a long way to go before they open the school doors in September 1996.

Martha's Vineyard was one of 21 communities across the state to be granted a charter last March by the state Executive Office of Education under the provisions of the Massachusetts Education Reform Act (ERA).