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§ 18-112. Interest rate for repayment obligations

West's Annotated Code of MarylandEducationEffective: July 1, 2010

West's Annotated Code of Maryland
Education (Refs & Annos)
Division III. Higher Education [Titles 10-20] (Refs & Annos)
Title 18. Student Financial Assistance (Refs & Annos)
Subtitle 1. General Provisions (Refs & Annos)
Effective: July 1, 2010
MD Code, Education, § 18-112
§ 18-112. Interest rate for repayment obligations
Currentness
In general
(a) Except as otherwise provided in this title, repayment obligations incurred by recipients of student financial assistance administered by the Office shall be calculated at an interest rate equal to and matching the interest rate established by the United States Department of Education for the Federal Stafford Loan on the first day of July of each year, with interest not accruing prior to notification to the Commission of a recipient's graduation or termination from an institution of higher education.
Commencement of repayment
(b) A recipient shall commence repayment obligations upon graduation or termination from an institution of higher education.

Credits

Added by Acts 2000, c. 575, § 1, eff. July 1, 2000. Amended by Acts 2000, c. 606, § 1, eff. Oct. 1, 2000; Acts 2010, c. 217, § 1, eff. July 1, 2010.
MD Code, Education, § 18-112, MD EDUC § 18-112
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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