§12412.__Workforce for Maine Program

There is established the Workforce for Maine Program, referred to in this chapter as "the program," to provide financial assistance to college students, graduating high school seniors and students pursuing postbaccalaureate degrees who demonstrate an interest in pursuing a career in this State.__The program recognizes graduating high school seniors, college students and students pursuing postbaccalaureate degrees by providing loans, referred to as "Workforce for Maine loans" to be used for tuition as provided in this chapter.__The chief executive officer shall administer the program and shall establish by rule the rates of interest or fees to be charged.

§12413.__Workforce for Maine loan recipients

Each year graduating high school seniors, college students and students pursuing postbaccalaureate degrees may apply for recognition as Workforce for Maine loan recipients.__ Applications must be submitted to the chief executive officer at a time and in a format to be determined by rule of the chief executive officer.

The Governor, after consultation with the chief executive officer, shall announce the names of those individuals selected by the chief executive officer to be Workforce for Maine loan recipients.

§12414.__Allocation of funds

The chief executive officer shall establish by rule the allocation of funds available under this chapter.

Workforce for Maine loans of up to $1,500 per academic year or $6,000 total may be made to a student pursuing a postbaccalaureate degree.__Loans of up to $3,000 per academic year or $12,000 total may be made to an eligible graduating high school senior or college student.__A loan of up to $3,000 per academic year or $6,000 total may be made to an eligible student pursuing an associate degree.__An individual who has received a Workforce for Maine loan or a Blaine House Scholars Program loan as a graduating high school senior or as a college student may also receive a loan for pursuing a postbaccalaureate degree.__In no event may an individual receive more than $18,000 in total.__Workforce for Maine loans for an undergraduate student or postbaccalaureate recipient are for one academic year and are