Code of Maine Rules
02 - DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION
029 - BUREAU OF FINANCIAL INSTITUTIONS
Chapter 145 - STUDENT LOANS
Section 029-145-1 - Summary

Universal Citation: 02 ME Code Rules ยง 029-145-1

Current through 2024-13, March 27, 2024

1. This Chapter allows subject lenders to provide to student borrowers loans that provide for a schedule of payments of principal and/or interest pursuant to which payments are not substantially equal to all other payments or pursuant to which the intervals between consecutive payments differ substantially. This Chapter also allows subject lenders to provide to student borrowers loans that provide for the deferral of periodic payments and the accrual of interest and costs during the deferral period.

2. This Chapter is promulgated jointly by the Bureau of Financial Institutions and the Bureau of Consumer Credit Protection because it pertains to financial institutions authorized to do business in this State as defined by Title 9-B § 131(17-A), credit unions authorized to do business in this State as defined by Title 9-B § 131(12-A), and supervised lenders, as defined in Title 9-A § 1-301(39). This Chapter only pertains to loans provided to student borrowers by subject lenders.

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