Maine Revised Statutes Title 20-A Sec. 11463 – Insure student loan payments
Current as of: 2023 | Check for updates
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The authority may make commitments and agreements to insure student loan payments. [PL 2013, c. 34, §7 (NEW).]
1. Loan serviced. A loan insured by the authority must be serviced as required by the authority.
[PL 2013, c. 34, §7 (NEW).]
Terms Used In Maine Revised Statutes Title 20-A Sec. 11463
- Authority: means the Finance Authority of Maine. See Maine Revised Statutes Title 20-A Sec. 11459
- Student loan: means a loan under this chapter to or for the benefit of a student enrolled or to be enrolled in an eligible program of study at an institution of higher education that meets the other requirements of this chapter. See Maine Revised Statutes Title 20-A Sec. 11459
2. Compliance. A loan insured by the authority must be in compliance with the student loan insurance credit policy of the authority.
[PL 2013, c. 34, §7 (NEW).]
3. Other terms. A loan insured by the authority may be subject to terms other than those specified in subsections 1 and 2 as may be required by law or by rule of the authority.
[PL 2013, c. 34, §7 (NEW).]
4. Financial education. Prior to obtaining a loan insured by the authority, an applicant must satisfy financial education requirements established or approved by the authority.
[PL 2013, c. 34, §7 (NEW).]
SECTION HISTORY
PL 2013, c. 34, §7 (NEW).