Code of Maryland Regulations (Last Updated: April 6, 2021) |
Title 13B. Maryland Higher Education Commission |
Subtitle 08. FINANCIAL AID |
Chapter 13B.08.18. Maryland Loan Assistance Repayment Program for Foster Care Recipients |
Sec. 13b.08.18.07. Recipient Obligations
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A. A recipient shall furnish to OSFA written acceptance of the award and a signed promissory note and employment obligation agreement.
B. The promissory note and service obligation agreement shall include:
(1) The obligations of the recipient;
(2) The total and annual amounts of the award;
(3) Penalties for breach of contract;
(4) Circumstances under which the obligation may be canceled, suspended, or waived; and
(5) Any other terms the Secretary considers necessary.
C. A recipient shall:
(1) Verify eligible employment initially, after 6 months, and at the end of each year in the program;
(2) Verify the current status of all educational loans each year in the program;
(3) Verify, at the time of the initial application only, being a foster care recipient as defined in Regulation .02 of this chapter;
(4) Submit a copy of the recipients State tax returns for any year during which an award is received, and federal returns if requested; and
(5) Notify OSFA of any change in employment status.