Sec. G-1. 20-A MRSA §12504, as amended by PL 1995, c. 117, Pt. E, §7 and affected by §13, is further amended to read:
The chief executive officer shall establish by rule the allocation of funds available under this chapter.
Loans of up to $1,500 per academic year or $6,000 total may be made to eligible teachers engaged in graduate study or continuing education and students pursuing postbaccalaureate teacher certification. Loans of up to $3,000 per academic year or $12,000 total may be made to eligible graduating high school seniors and college students. An individual who has received a Teachers for Maine loan or a Blaine House Scholars Program loan as a graduating high school senior or as a college student may also receive a loan for students pursuing postbaccalaureate teacher certification or as a teacher engaged in graduate education or continuing education. In no event may an individual receive more than $18,000 in total. Loans for undergraduate students and postbaccalaureate recipients are for one academic year and are automatically renewed if the recipient maintains a grade point average of 2.5 based on a 4.0 grade point system or the equivalent. Loans for teachers are automatically renewable only if the applicant is pursuing a continuing course of study approved at the time of the initial application.
An eligible individual who has received a loan as a student pursuing postbaccalaureate teacher certification may subsequently receive a loan as a teacher engaged in graduate study or continuing education, including undergraduate courses. However, in In no event may an individual receive Teachers for Maine loans or Blaine House Scholars Program loans totaling more than $6,000.
Sec. G-2. 20-A MRSA §12508, first ¶, as amended by PL 1995, c. 117, Pt. E, §10 and affected by §13, is further amended to read:
Each recipient of a loan designated for teachers pursuing graduate study or continuing education or for students pursuing postbaccalaureate teacher certification may cancel the total amount of the loan by completing one year of return service for each year a loan is received in the public schools or private schools approved for tuition purposes in the State. The return service requirement is one year of return service for 2 loans received if return service is performed in underserved subject areas or in teacher shortage areas. Return service for this purpose must be performed within 3 years of graduation from the institution of higher education or completion of the course or courses for which the funds were given. In no event may return service be credited for the same semester for which an individual receives a loan pursuant to this chapter. An individual receiving loan forgiveness for a loan for a teacher pursuing graduate study or continuing education or a postbaccalaureate teacher certification loan may not receive loan forgiveness for any undergraduate loan simultaneously. If the chief executive officer grants a deferment, the time period for performance of return service may be extended for the same period as the deferment. Failure to fulfill the return service option will necessitate repayment to the authority as follows.
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