(a) In this subtitle the following words have the meanings indicated. (b) “Foster care recipient” means an individual who was placed in an out–of–home placement by a state’s or unit of a state government’s department of social services for 3 years or more. (c) “Higher education loan” means any loan for undergraduate or graduate study that is obtained […]
(a) There is a Maryland Loan Assistance Repayment Program for Foster Care Recipients in the State. (b) The Office shall assist in the repayment of higher education loans owed by a foster care recipient who: (1) Is employed for a minimum of 20 hours per week by the State or a county or municipality of the State; (2) Received […]
(a) Subject to the availability of funds appropriated under subsection (b) of this section, the award amount under the Program shall be equal to the lesser of: (1) $5,000; or (2) 10% of the eligible individual’s total higher education loan debt for each year the individual qualifies for the Program. (b) The Governor annually shall include an appropriation of […]
(a) Each recipient of an award under the Program may hold the award for 3 years if the recipient: (1) Continues to meet the qualifications specified under § 18–3202 of this subtitle; and (2) Signs an agreement at the time of the award to remain employed by the State or a county or municipality of the State for […]
An award under the Program shall be used only for repayment of the higher education loans owed by the recipient.
The Office shall adopt regulations to implement the provisions of this subtitle.
(a) The Department of Budget and Management shall provide to State employees information about the Program. (b) The local governing body of each county and municipality of the State shall provide their employees with information about the Program.
