An Act To Increase the Number of Teachers in Maine

Sec. 1. 20-A MRSA §12504, 2nd ¶,  as amended by PL 2003, c. 427, §5, is further amended to read:

Loans of up to $2,000 per academic year or $8,000 total may be made to students pursuing postbaccalaureate certification. Loans of up to $3,000 $9,000 per academic year or $12,000 $36,000 total may be made to eligible undergraduate students. An individual who has received an Educators for Maine loan as an undergraduate may also receive a loan for students pursuing postbaccalaureate certification. In no event may an individual receive more than $20,000 $44,000 in total Educators for Maine loans. Loans are for one academic year and are renewable if the recipient maintains a grade point average of at least 2.5 based on a 4.0 grade point system or the equivalent and submits a complete renewal application by the deadline annually.

summary

Currently, under the Educators for Maine Program, an eligible undergraduate may receive a loan of up to $3,000 per academic year or $12,000 total. This bill increases those loan amounts to $9,000 per academic year and $36,000 total. It also increases from $20,000 to $44,000 the total loan amount under the program a student may receive in undergraduate and postbaccalaureate loans.