Regulation .06 Award Distribution.
Regulation .06 Award Distribution.LinkCopy Citation
A.
The distribution of Program awards shall be based on the funding prioritization in accordance with Health-General Article, §24–1704(b), Annotated Code of Maryland.
B.
The Department shall prioritize funding for the repayment of education loans in accordance with Health-General Article, §24–1705(b), Annotated Code of Maryland.
C.
The Department shall annually determine, based on the availability of funds:
(1)
The maximum number of participants for the Program in each priority area; and
(2)
The minimum and maximum amount of loan repayment assistance awarded.
D.
The amount of award offered and paid shall not exceed the lesser of:
(1)
The loan repayment amount specified in the Service Obligation Agreement; or
(2)
A participant's total verified debt from eligible education loans.