A. The total number of awards made each year shall be determined on an annual basis by the Office of Student Financial Assistance (OSFA) and the Maryland Department of Health (MDH) and shall be based on the amount of funds available.
B. The award amount for new Maryland Dent-Care Loan Assistance Repayment Program (MDC-LARP) awards shall be determined on an annual basis by OSFA and MDH, and shall be based on the available annual funding, the number of selected recipients, a recipientís total indebtedness from eligible higher education loans at the time of application, and the number of years the recipient agrees to serve in the program.
C. An award shall be for a minimum of $10,000 per year and up to a maximum of $30,000 per year.
D. An MDC-LARP award may not exceed the MDC-LARP recipientís total indebtedness from eligible higher education loans.
E. OSFA shall issue checks to selected MDC-LARP recipients within 60 days of completing their service year. A service year is the 365-day period commencing on the date of the first day the MDC-LARP recipient begins to fulfill the service obligation at an eligible practice site. Unless the MDC-LARP recipient does not fulfill the service obligation as scheduled, subsequent service years for that MDC-LARP recipient begin and end on the same dates as the first service year. The amount of the check shall equal the loan repayment amount specified for the service year in the contract between the MDC-LARP recipient and the Commission.
F. A loan repayment check shall be made co-payable to the MDC-LARP recipient and the holder of the MDC-LARP recipient's eligible higher education loans. The MDC-LARP recipient shall endorse and forward the check to the loan holder.
G. An MDC-LARP recipient shall notify OSFA if there is a change in the holder of a loan.
H. An MDC-LARP recipient may receive renewal awards for up to a maximum of 3 years if the recipient continues to meet the eligibility criteria and have outstanding eligible higher education loans, depending on available funding. Individuals applying for an award renewal are neither given preference nor guaranteed renewal.