Maine Revised Statutes

§12504. Allocation of funds

The authority shall establish by rule the allocation of funds available under this chapter. [2003, c. 427, §5 (AMD).]

Loans of up to $2,000 per academic year or $8,000 total may be made to students pursuing postbaccalaureate certification. Loans of up to $3,000 per academic year or $12,000 total may be made to eligible undergraduate students. An individual who has received an Educators for Maine loan as an undergraduate may also receive a loan for students pursuing postbaccalaureate certification. In no event may an individual receive more than $20,000 in total Educators for Maine loans. Loans are for one academic year and are renewable if the recipient maintains a grade point average of at least 2.5 based on a 4.0 grade point system or the equivalent and submits a complete renewal application by the deadline annually. [2003, c. 427, §5 (AMD).]

SECTION HISTORY
1983, c. 859, §§F1,F2 (NEW). 1991, c. 553, §5 (AMD). 1995, c. 117, §E7 (AMD). 1995, c. 117, §E13 (AFF). 1997, c. 24, §G1 (AMD). 1999, c. 441, §8 (AMD). 1999, c. 783, §4 (AMD). 2001, c. 417, §25 (AMD). 2003, c. 427, §5 (AMD).