20-A §11460. Eligibility
Title 20-A: EDUCATION
Part 5: POST-SECONDARY EDUCATION
Chapter 417-C: HIGHER EDUCATION LOAN PROGRAM HEADING: PL 1991, C. 824, PT. A, §35 (NEW)
§11460. Eligibility
Loans under this chapter are available only to or for the benefit of a resident of the State who: [1991, c. 824, Pt. A, §35 (NEW).]
1. Graduated. Has graduated from an approved secondary school, matriculated at a postsecondary school prior to high school graduation or successfully completed a high school equivalency diploma or its equivalent;
[ 1991, c. 824, Pt. A, §35 (NEW) .]
2. Accepted as undergraduate. Has been accepted for enrollment as an undergraduate or graduate student or is in good standing as an undergraduate or graduate student at an institution of higher education in an eligible program of study and has not previously received the degree for which the student is enrolled;
[ 1991, c. 824, Pt. A, §35 (NEW) .]
3. Application. Has applied for a loan under the program according to schedules and procedures and on forms specified by the authority and has provided or caused to be provided all information determined necessary by the authority in order to determine eligibility;
[ 1991, c. 824, Pt. A, §35 (NEW) .]
4. Unmet need. Has been determined by the authority to have an unmet need for financial assistance that, if not met, will prevent the student from attending the institution of higher education of that student's choice;
[ 1991, c. 824, Pt. A, §35 (NEW) .]
5. Residency. Meets the state residency requirements that may be established by the authority by rule;
[ 1991, c. 824, Pt. A, §35 (NEW) .]
6. Loan repayment. Has been determined by the authority to have a reasonable prospect of being able to repay the loan. In appropriate cases, the authority may allow repayments to be deferred and subordinated to repayment of other student loans for such period of time as may be necessary for the borrower to be able to afford to repay the loan; and
[ 1991, c. 824, Pt. A, §35 (NEW) .]
7. Academic standing. Is maintaining a grade point average of at least 2.0 on a scale of 4.0, or the equivalent as determined by the authority, provided, however, that the authority may waive the minimum grade point average in the case of a student demonstrating special circumstances and a substantial likelihood of improvement.
[ 1991, c. 824, Pt. A, §35 (NEW) .]
SECTION HISTORY
1991, c. 824, §A35 (NEW).