Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 603 - RULES FOR THE CONDUCT OF THE BLAINE HOUSE SCHOLARS PROGRAM
Section 457-603-3 - Loan Terms

Universal Citation: 94 ME Code Rules ยง 457-603-3

Current through 2024-13, March 27, 2024

A. Loans of up to $1,500 per academic year or $6,000 total may be made to eligible individuals. Individuals who have received a Blaine House scholars loan as an undergraduate student may also receive a loan for students pursuing postbaccalaureate teacher certification or a loan for teachers engaged in graduate education or continuing education. In no event may an individual receive more than $12,000 in total.

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 no event may an individual receive Blaine House loans totaling more than $6,000 for students pursuing postbaccalaureate teacher certification and teachers engaged in graduate education or continuing education.

B. Loans shall be made to eligible individuals without interest.

C. Loans shall be for one academic year.

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