Regulation .07 Employment Obligations of Award Recipients.
Regulation .07 Employment Obligations of Award Recipients.LinkCopy Citation
A.
A recipient shall furnish the Office of Student Financial Assistance (OSFA) with written acceptance of the award and sign a promissory note and employment obligation agreement with OSFA.
B.
The promissory note and employment obligation agreement shall include:
(1)
The obligations of the recipient;
(2)
The total and annual amounts of the award;
(3)
Penalties for breach of the promissory note and employment obligation agreement;
(4)
Circumstances under which the employment obligation may be canceled, suspended, or waived; and
(5)
Any other terms the Maryland Secretary of Higher Education considers necessary.
C.
A recipient shall:
(1)
Verify eligible employment and salary level initially, after 6 months, and at the end of each year in the program;
(2)
Verify the current status of all education loans each year in the program;
(3)
Submit a copy of their Maryland tax returns for any year during which an award is received and, if requested, a copy of their federal return; and
(4)
Notify OSFA and their lending institutions of any change in employment status or salary level.