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13b.08.02.00.htm 13B.08.02.00. Title 13B MARYLAND HIGHER EDUCATION COMMISSION Subtitle 08 FINANCIAL AID Chapter 02 Janet L. Hoffman Loan Assistance Repayment Program Authority: Education Article, §11-105(u) 18-204(c) and 18-1503, Annotated Code of Maryland
13b.08.02.01.htm 13B.08.02.01. 01 Purpose.. The purpose of the Janet L. Hoffman Loan Assistance Repayment Program (Hoffman LARP) is to attract qualified individuals to fields of employment in government and the nonprofit sector, particularly those in which there are critical manpower shortages in the State and lower salaries than in the private sector, by providing State assistance in the repayment of educational loans.
13b.08.02.02.htm 13B.08.02.02. 02 Eligibility.. A. To be eligible for assistance under the Hoffman LARP, an applicant:. 1) Shall possess:. a) An undergraduate, graduate, or professional degree from a college or university located in Maryland;b) A law degree from any school of law; or. c) A resident teacher certificate from the Maryland State Department of Education after completing an alternative teaching preparation program approved by the State Superintendent of Education;2) Shall have obtained em
13b.08.02.03.htm 13B.08.02.03. 03 Application Procedures.. A. To be considered for the Hoffman LARP, an applicant shall provide to the Office for Student Financial Assistance (OSFA)1) A completed application;. 2) Current repayment data on all education loans;. 3) Proof that the applicant has:. a) Graduated from a college or university in Maryland;. b) Graduated from a school of law; or. c) Obtained of a resident teacher certificate;. 4) A statement from an eligible employer confirming the nature of the appli
13b.08.02.04.htm 13B.08.02.04. 04 Selection of Recipients.. A. Recipients shall receive an award depending upon their level of debt for a 3-year period.. B. Award funds are distributed in annual or monthly amounts as long as the recipient retains eligibility and continues to submit required annual employment, lender, and tax documentation.C. Priority for participation in the program shall be given to an individual who:. 1) Graduated from an institution of higher education in the last 3 years;.
13b.08.02.05.htm 13B.08.02.05. 05 Awarding Procedures.. A. Eligible applicants employed in priority fields shall be grouped by field, and the number of awards shall be proportionally distributed among priority fields.B. Within priority fields, applicants shall be ranked according to graduation date, with the most recent graduation date receiving the highest priority, and then application completion date, with the earliest application completion date receiving the highest priority.C. If applicants have ide
13b.08.02.06.htm 13B.08.02.06. 06 Award Calculation.. A. Awards shall be determined by an applicant’s overall reported debt at the time of application as follows:Total Debt. Overall Award Limit. Yearly Payment. 75,001 — Over. 30,000. 10,000. 40,001 — $75,000. 18,000. 6,000. 15,001 — $40,000. 9,000. 3,000. 15,000 — below. 4,500*. 1,500. Payment amount cannot exceed total debt; amount will be adjusted.. B. Recipients shall lock in to an award level that contains set award amounts for each year the reci
13b.08.02.07.htm 13B.08.02.07. 07 Employment Obligations of Award Recipients.. A. A recipient shall furnish the Office of Student Financial Assistance (OSFA) with written acceptance of the award and sign a promissory note and employment obligation agreement with OSFA.B. The promissory note and employment obligation agreement shall include:. 1) The obligations of the recipient;. 2) The total and annual amounts of the award;. 3) Penalties for breach of the promissory note and employment obligation agreement;.
13b.08.02.08.htm 13B.08.02.08. 08 Payment.. A. Recipients of the Hoffman LARP are eligible to receive a monthly or annual payment.. B. A recipient is eligible for the monthly loan repayment option under the following conditions:. 1) The recipient applies to a federal loan forgiveness program;. 2) The recipient notifies the Office of Student Financial Assistance (OSFA) each year in writing by the designated deadline, with accompanying documen3) OSFA verifies the recipient’s employment and lender verifications;.
13b.08.02.09.htm 13B.08.02.09. 09 Repayment.. A. If a recipient fails to carry out the employment obligations required under this program, the recipient shall repay the State the amount of the award plus interest.B. Repayment may be prorated if the recipient partially fulfills the employment obligation, as determined by the Office of Student Financial Assistance.C. Interest on the funds advanced shall accrue at an interest rate equal to the interest rate established by the United States Department of Education
13b.08.02.10.htm 13B.08.02.10. 10 Deferment of Repayment.. A. A recipient may request that their repayment be deferred if the recipient is:. 1) Unable to maintain employment within their current field for a period not to exceed 12 months because they must care for a spouse or child who is disabled;2) Assigned military duty outside of the State, not to exceed 3 years without filing an appeal; or. 3) Married to a spouse assigned military duty outside of the State, not to exceed 3 years without filing an appeal.
13b.08.02.11.htm 13B.08.02.11. 11 Waiver of Repayment Obligations.. The Office of Student Financial Assistance shall waive a recipient's repayment if it determines on the basis of a death certificate or other evidence of death that is conclusive under State law that the recipient has died.
13b.08.02.12.htm 13B.08.02.12. 12 Report.. The Office of Student Financial Assistance shall submit an annual statement by January 1 of each year to the General Assembly on the implementation of the Hoffman LARP.
13b.08.02.9999.htm 13B.08.02.9999. Administrative History Effective date: August 28, 2017 (44:17 Md. R. 836).
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