Maine Revised Statutes Title 20-A Sec. 12526 – Eligibility requirements
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1. Program loan repayment agreement. A program loan repayment agreement may be given only to an individual who is employed in this State in an eligible employment position and who has met other eligibility criteria established by rules of the authority.
[PL 2003, c. 710, §2 (NEW).]
Terms Used In Maine Revised Statutes Title 20-A Sec. 12526
- Authority: means the Finance Authority of Maine. See Maine Revised Statutes Title 20-A Sec. 12521
- Eligible employer: means a business in the State that employs engineers and that demonstrates a need to fill an eligible employment position. See Maine Revised Statutes Title 20-A Sec. 12521
- Eligible employment position: means a full-time position of employment with an employer located in this State, a requirement of which is a bachelor's degree in an engineering discipline. See Maine Revised Statutes Title 20-A Sec. 12521
- Program: means the Maine Engineers Recruitment and Retention Program established in section 12522. See Maine Revised Statutes Title 20-A Sec. 12521
2. Matching funds. An eligible employer must provide funds to match the amount provided by the authority for program loan repayments under this section. The employer’s match must be paid to the authority for payment to the financial institution holding the employee’s student loan and must be in an amount equal to the amount of the program loan repayment to be provided by the authority.
[PL 2003, c. 710, §2 (NEW).]
SECTION HISTORY
PL 2003, c. 710, §2 (NEW).