Maine § 20-A §12104 Loans for medical education

Maine Statutes

§ 20-A §12104 — Loans for medical education

Maine·Title 20-A EDUCATION·Part 5 POST-SECONDARY EDUCATION·Ch. 424 MEDICAL EDUCATION AND RECRUITMENT

The Health Professions Loan Program, referred to in this section as the "program," is established and is administered by the authority.

1.Eligibility. Loans are available to Maine residents pursuing allopathic, osteopathic, veterinary and dentistry education and to Maine residents obtaining a first loan under this section for the pursuit of an education in optometry prior to January 1, 2011. To be eligible for a loan under this section, a person must meet eligibility criteria, established by rule of the authority, which at a minimum must require:

2.State contract students. 2-A. Access to Medical Education Program students. As long as the student is otherwise eligible, a student occupying a position at a school of allopathic or osteopathic medicine pursuant to section 12103 that was secur

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The Health Professions Loan Program, referred to in this section as the "program," is established and is administered by the authority.
1.
Eligibility.
Loans are available to Maine residents pursuing allopathic, osteopathic, veterinary and dentistry education and to Maine residents obtaining a first loan under this section for the pursuit of an education in optometry prior to January 1, 2011. To be eligible for a loan under this section, a person must meet eligibility criteria, established by rule of the authority, which at a minimum must require:
2.
State contract students.
2-A.
Access to Medical Education Program students.
As long as the student is otherwise eligible, a student occupying a position at a school of allopathic or osteopathic medicine pursuant to section 12103 that was secured by the chief executive officer on or before January 1, 2010 continues to be eligible for loans under the program under this section through June 30, 2013. As long as the student is otherwise eligible, a student occupying a position at a school of veterinary medicine pursuant to section 12103 that was secured by the chief executive officer on or before January 1, 2011 continues to be eligible for loans under the program under this section through June 30, 2014.
3.
Maximum loan amount.
The chief executive officer may establish the maximum loan amount and may provide for a different maximum loan amount for applicants in different categories.
4.
Allocation of loan fund.
5.
Loan agreement for students obtaining first program loans prior to January 1, 2010 or January 1, 2011.
This subsection applies to allopathic and osteopathic students under section 12103 who obtained their first program loan prior to January 1, 2010 and to all other students who obtained their first program loan prior to January 1, 2011. The student shall enter into a loan agreement that provides for the following.
5-A.
Loan agreement for students obtaining first program loans after January 1, 2010 or January 1, 2011.
This subsection applies to students who are not eligible for loan agreements under subsection 5. The student shall enter into a loan agreement that provides for the following.
6.
Deferments.
Deferments may be granted for causes established by rule of the authority. Interest at a rate to be determined by rule of the authority must be assessed during the deferment. The student's total debt to the authority, including principal and interest, must be repaid either through return service, if eligible, or cash payments. The chief executive officer shall make determinations of deferment on a case-by-case basis. The decision of the chief executive officer is final.

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Legislative History

PL 1991, c. 830, §4 (NEW). PL 1991, c. 832, §10 (NEW). PL 1995, c. 117, §D2 (AMD). PL 1995, c. 117, §D3 (AFF). PL 2003, c. 689, §B6 (REV). PL 2009, c. 410, §4 (AMD). PL 2009, c. 488, §§3-9 (AMD).