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AGENCY UMBRELLA-UNIT NUMBER: 94-434
AGENCY NAME: Maine Educational Loan Authority

CONTACT PERSON: Shirley M. Erickson, Executive Director, Maine Educational Loan Authority, One City Center, 11th floor, Portland, Maine 04101. Tel: (207) 791-3621 or (207) 255-4063.

EMERGENCY RULES ADOPTED SINCE LAST REGULATORY AGENDA: None.

EXPECTED 2002- 2003 RULE-MAKING ACTIVITY:

CHAPTER 1
TITLE: Maine Loan Program
STATUTORY AUTHORITY: 20-A M.R.S.A. § 11417(1)(N), 10 M.R.S.A. § 363.
PURPOSE: To amend the finance charges and repayment terms of supplemental education loans to participants in the Maine Loan Program.
ANTICIPATED SCHEDULE: Approval for Rulemaking by MELA Board: January 2003; Public Hearing: February 2003; Adoption Date: April 2003.
AFFECTED PARTIES: Maine residents entering institutions of higher education or who are currently enrolled in an approved educational program, college or university and non-resident students who are entering or currently enrolled in an approved educational program, college or university in Maine.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 1
TITLE: Maine Medical Loan Program
STATUTORY AUTHORITY: 20-A M.R.S.A. § 11417(1)(N), 10 M.R.S.A. §363.
PURPOSE: To amend the finance charges and repayment terms as well as the terms under which participants in the Maine Medical Loan Program may qualify for reduced interest rates; to establish a disclosure policy regarding such terms to comply with the Joint Rule of the Bureau of Banking and the Office of Consumer Credit Regulation on Student Loan Disclosures.
ANTICIPATED SCHEDULE: Approval for Rulemaking by MELA Board: January 2003; Public Hearing: February 2003; Adoption Date: April 2003.
AFFECTED PARTIES: Maine residents entering post-graduate studies in medical professions and students who are currently enrolled in an approved medical college or university in Maine.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 2
TITLE: Bylaws Governing the Administration of the Maine Educational Loan Authority.
STATUTORY AUTHORITY: 20-A M.R.S.A. § 11417(1)(N).
PURPOSE: To amend and/or revise the bylaws that govern the administration of the Maine Educational Loan Authority.
ANTICIPATED SCHEDULE: Approval for Rulemaking by MELA Board: January 2003; Public Hearing: February 2003; Adoption Date: April 2003.
AFFECTED PARTIES: Board Members and Executive Director of the Maine Educational Loan Authority, Contractors, and other interested parties conducting business with the Authority.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

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