Maryland Education Section 18-701

      (a)      There is a program of Economic Development Student Assistance Grants awarded under this subtitle for students who pledge to work in fields of geographic or critical shortage in this State upon completion of their studies.

      (b)      The purpose of the Program is to:

            (1)      Provide financial assistance to students enrolled at institutions of higher education in the State; and

            (2)      Address the economic development needs of the State.

      (c)      A recipient of an Economic Development Student Assistance Grant under this subtitle shall:

            (1)      Be a resident of the State;

            (2)      Be selected by the Office from qualified applicants based on standards established and approved by the Commission;

            (3)      Sign a letter of intent to enroll at an eligible institution in the State in an eligible program as specified for each field in which there is a geographic or critical shortage in this State as provided in this subtitle;

            (4)      Furnish a promissory note to the Commission or its designee with security satisfactory to the Commission;

            (5)      After completion of studies in an eligible program, perform the service obligation as specified for each field in which there is a geographic or critical shortage as provided in this subtitle; and

            (6)      Satisfy any additional criteria the Commission may establish.

      (d)      (1)      The recipient of an Economic Development Student Assistance Grant shall repay the Commission the funds received as set forth in § 18-112 of this title if the recipient does not:

                  (i)      Complete the specified degree, attain the licensure or certification required, or fulfill other requirements as provided in this subtitle; and

                  (ii)      Except as provided in § 18-706 of this subtitle, perform the service obligation as specified in each section of this subtitle for 1 year for each year that the recipient has a grant awarded under this subtitle.

            (2)      (i)      Except as otherwise provided in this section and in § 18-706 of this subtitle, the Office shall waive the repayment of the grant award at the rate of 1 year for each year that the recipient performs the service obligation.

                  (ii)      A recipient shall begin repayment at any time during the period that the recipient is no longer performing the service obligation.

            (3)      A recipient may delay repayment as long as the recipient remains a student enrolled at least part time in a degree-granting program.

            (4)      Except as otherwise provided in this subtitle, repayment shall be made to the State within 6 years after the repayment period begins and shall follow a repayment schedule established by the Office.

            (5)      The Office may waive or defer repayment in the event of disability or extended sickness which prevents the recipient from fulfilling the service obligation required under this subtitle.

      (e)      Except as provided in § 18-706 of this subtitle, the repayment of the grant award by a recipient who is not yet required by the provisions of this subtitle to begin repayment of the award and who accepts employment that fulfills the service obligation shall be forgiven, for the purposes of this subtitle, at a rate of 1 year for each year that the recipient performs the service obligation.

      (f)      The Commission may adopt guidelines or regulations necessary to implement this subtitle.

      (g)      (1)      The Commission may restructure an existing Economic Development Student Assistance Grants Program, as necessary, to address the existing critical shortages under the Program.

            (2)      The Commission shall adopt regulations necessary to implement any changes under paragraph (1) of this subsection.

            (3)      The Commission shall notify the General Assembly of any changes implemented under this subsection.

      (h)      Funds for the Economic Development Student Assistance Grants Program shall be as provided in the annual budget of the Commission by the Governor.