Skip to main content
Find a Lawyer

Maine Revised Statutes Title 10. Commerce and Trade § 1019. Nursing education loan repayment program

Current as of January 01, 2022 | Updated by FindLaw Staff

1. Nursing education loan repayment program. The nursing education loan repayment program is established for the purpose of increasing the number of nursing faculty in nursing education programs in the State.

2. Criteria. For an applicant to participate in the nursing education loan repayment program established under subsection 1, the applicant must:

A. Be a nurse;

B. Be currently enrolled in a master's or doctoral degree program in nursing or have completed a master's or doctoral degree in nursing;

C. Possess an outstanding education loan relating to the master's or doctoral nursing degree; and

D. Sign a statement of intent in a form acceptable to the authority to work as full-time nursing faculty in a nursing education program in the State for a minimum of 3 years after acceptance into the nursing education loan repayment program.

3. Nursing education loan repayment fund. The nursing education loan repayment fund, referred to in this section as “the fund,” is created as a nonlapsing, interest-earning, revolving fund to carry out the purposes of this subchapter.

A. The authority may receive, invest and expend on behalf of the fund money from gifts, grants, bequests, loans and donations in addition to money appropriated or allocated by the State. Money received by the authority on behalf of the fund must be used for the purposes of this subchapter. The fund must be maintained and administered by the authority. Any unexpended balance in the fund carries forward for continued use under this subchapter.

B. Costs and expenses of maintaining, servicing and administering the fund and of administering the nursing education loan repayment program may be paid out of amounts in the fund.

4. Administration. The nursing education loan repayment program and the nursing education loan repayment fund are administered by the authority. The authority shall repay the loan of an applicant who meets the criteria in subsection 2 in the amount of up to $20,000 for a master's degree and up to $40,000 for a doctoral degree. The authority may adopt rules to carry out the purposes of this subchapter. Rules adopted pursuant to this subsection are routine technical rules pursuant to Title 5, chapter 375, subchapter 2-A.  1

1 5 M.R.S.A. § 8071 et seq.
Back to chapter list
Previous part of code Next part of code
Back to chapter list

Cite this article: FindLaw.com - Maine Revised Statutes Title 10. Commerce and Trade § 1019. Nursing education loan repayment program - last updated January 01, 2022 | https://codes.findlaw.com/me/title-10-commerce-and-trade/me-rev-st-tit-10-sect-1019/

Read this complete Maine Revised Statutes Title 10. Commerce and Trade § 1019. Nursing education loan repayment program on Westlaw. Westlaw subscription required.

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

Was this helpful?

Search all Maine Codes

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About the Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to find an attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard