20-A M.R.S. §11463: Insure student loan payments

The authority may make commitments and agreements to insure student loan payments.

1. Loan serviced. A loan insured by the authority must be serviced as required by the authority.

2. Compliance. A loan insured by the authority must be in compliance with the student loan insurance credit policy of the authority.

3. Other terms. A loan insured by the authority may be subject to terms other than those specified in subsections 1 and 2 as may be required by law or by rule of the authority.

4. Financial education. Prior to obtaining a loan insured by the authority, an applicant must satisfy financial education requirements established or approved by the authority.