Maine § 20-A §12961 Maine Health Care Provider Loan Repayment Program

Maine Statutes

§ 20-A §12961 — Maine Health Care Provider Loan Repayment Program

Maine·Title 20-A EDUCATION·Part 5 POST-SECONDARY EDUCATION·Ch. 441-A MAINE HEALTH CARE PROVIDER LOAN REPAYMENT PROGRAM

1.Program established. The Maine Health Care Provider Loan Repayment Program, referred to in this section as "the program," is established within the Finance Authority of Maine for certain health care professionals who commit to living and working in the State for at least 3 years. The authority may, as funds permit, make loan repayments on behalf of eligible program participants to address critical workforce shortages exacerbated by the COVID-19 pandemic, including but not limited to the behavioral health and oral care sectors. Under the program, the authority shall pay up to $25,000 per year and, in aggregate, the lesser of $75,000 and 50% of the recipient’s outstanding student loan balance.

2.Fund established. The Maine Health Care Provider Loan Repayment Fund is established within th

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1.
Program established.
The Maine Health Care Provider Loan Repayment Program, referred to in this section as "the program," is established within the Finance Authority of Maine for certain health care professionals who commit to living and working in the State for at least 3 years. The authority may, as funds permit, make loan repayments on behalf of eligible program participants to address critical workforce shortages exacerbated by the COVID-19 pandemic, including but not limited to the behavioral health and oral care sectors. Under the program, the authority shall pay up to $25,000 per year and, in aggregate, the lesser of $75,000 and 50% of the recipient’s outstanding student loan balance.
2.
Fund established.
The Maine Health Care Provider Loan Repayment Fund is established within the Finance Authority of Maine as a nonlapsing fund. The fund may accept appropriations, donations and other funds from various sources, including state, federal and private sources. Costs and expenses of maintaining, servicing and administering the program may be paid out of the fund.
3.
Rules.
The Finance Authority of Maine may adopt routine technical rules pursuant to Title 5, chapter 375, subchapter 2‑A to carry out the purposes of the program, including application requirements and program eligibility.

Maine § 20-A §12961 (Maine Health Care Provider Loan Repayment Program) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.