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Home > Agendas > 2008-2009 > Maine Educational Loan Authority (MELA)

2008-2009 Regulatory Agendas

94-434
Maine Educational Loan Authority

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

CONTACT PERSON: Shirley M. Erickson, Executive Director, Maine Educational Loan Authority, 131 Presumpscot Street, Portland, Maine 04103 Telephone: (207) 400-3011 or (207) 255-4063. E-mail: serickson@mela.net

EMERGENCY RULES ADOPTED SINCE LAST REGULATORY AGENDA:

Chapter 1: Supplemental Education Loan Program Rules-Amendment

EXPECTED 2008-2009 RULE-MAKING ACTIVITY:

Chapter 1, Rules 94-434
TITLE: The Maine Loan Program
STATUTORY AUTHORITY: 20-A M.R.S.A. 11417(1)(N), 10 M.R.S.A. 363.
PURPOSE: To amend the credit underwriting, finance charges, and repayment terms of supplemental education loans to participants in The Maine Loan Program.
SCHEDULE FOR ADOPTION: Approval for Rulemaking by MELA Board: June 2008; Public Participation: July-August 2008; Adoption Date: September 2008. This rule may or may not be further amended in the next twelve months.
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, Rules 94-434
TITLE: The 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 credit underwriting, finance charges, and repayment terms of supplemental education loans to participants in The Maine Medical Loan Program.
SCHEDULE FOR ADOPTION: Approval for Rulemaking by MELA Board: June 2008; Public Participation: July-August 2008; Adoption Date: September 2008. This rule may or may not be further amended in the next twelve months.
AFFECTED PARTIES: Maine residents entering medical school or who are currently enrolled in an approved medical school in the United States or Canada, and non-resident students who are entering or currently enrolled in an approved medical school in Maine.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

Chapter 1, Rules 94-434
TITLE: MELA Private Consolidation Loan Program
STATUTORY AUTHORITY: 20-A M.R.S.A. 11417(1)(N), 10 M.R.S.A. 363
PURPOSE: To amend the credit underwriting, finance charges, and repayment terms of supplemental education loans to participants in the MELA Private Consolidation Loan Program.
SCHEDULE FOR ADOPTION: Approval for Rulemaking by MELA Board: June 2008; Public Participation: July-August 2008; Adoption Date: September 2008. This rule may or may not be further amended in the next twelve months.
AFFECTED PARTIES: Maine residents, existing Maine Educational Loan Authority borrowers, and students who attended an approved Maine higher educational institution with private or supplemental loans, which have been fully disbursed and are in repay- ment or grace status.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus based rule development.

Chapter 2, Rules 94-434
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.
SCHEDULE FOR ADOPTION: Approval for Rulemaking by MELA Board: October 2008; Public Participation: January 2009; Adoption Date: April 2009.
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.