An Act To Support College Affordability in Maine
Maine Legislature, Session 127, LD 0878
Committee Amendment CA_A_H108 (House)
Amends: 20-A MRSA §11459, 20-A MRSA §11460

COMMITTEE AMENDMENT "A" to H.P. 597, L.D. 878, Bill, "An Act To 
Support College Affordability in Maine" 
Amend the bill by striking out everything after the enacting clause and inserting the 
following: 
'Sec. 1. 20-A MRSA §11459, sub-§§l-A, I-B and 3-A are enacted to read: 
I-A. Consolidation loan. "Consolidation loan" means a loan under this chapter to 
or for the benefit of an individual made for the purpose of refinancing education loans 
that, when made, were made to or for the benefit of a student then enrolled in an eligible 
program of study at an institution of higher education that meets the other requirements of 
this chapter. 
I-B. 
Education loan. 
"Education loan" means a loan made by the Federal 
Government under the federal Higher Education Act of 1965, 20 United States Code, 
Chapter 28, Title IV, Part B, as amended, or a loan made by a regulated financial 
institution for the express purpose of financing the costs of higher education under a 
program designed solely for such purposes. 
3-A. Student loan. "Student loan" means a loan under this chapter to or for the 
benefit of a student enrolled or to be enrolled in an eligible program of study at an 
institution of higher education that meets the other requirements of this chapter. 
Sec. 2. 20-A MRSA §11460, as amended by PL 2013, c. 34, §5, is further 
amended to read: 
§11460. Eligibility 
Loans made or insured under this chapter must be either student loans or 
consolidation loans. Loans made or insured tinder this chapter are available only to or for 
the benefit of a resident of the State or an individual attending an institution of higher 
education in the State who: 
COMMITTEE AMENDMENT 
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COMMITTEE AMENDMENT "A "to HP. 597, L.D. 878 
1. Graduated. Has For a student loan, has graduated from an approved secondary 
school, matriculated at a postsecondary school prior to high school graduation or 
successfully completed a high school equivalency diploma or its equivalent; 
2. 
Accepted. Has For a student loan, has been accepted for enroIlment as an 
undergraduate or graduate student or is in good standing as an undergraduate or graduate 
student at an institution of higher education in an eligible program of study; 
3. Application. Has applied for a loan under the program and has provided or 
caused to be provided all information determined necessary by the authority in order to 
determine eligibility; 
4. Unmet need. Has For a student loan, has been detennined by the authority to 
have an unmet need for financial assistance that, if not met, will prevent the student from 
attending the institution of higher education of that student's choice; 
5. Residency. Meets the state residency or, for a student loan, school attendance 
requirements that may be established by the authority by rule; 
6. Loan repayment. Has been determined by the authority to have a reasonable 
prospect of being able to repay the loan. In appropriate cases, the authority may allow 
repayments to be deferred and subordinated to repayment of other student loans for such 
period of time as may be necessary for the borrower to be able to afford to repay the loan; 
and 
7. Minimum academic progress. Is For a student loan, is making satisfactory 
academic progress in accordance with the standards of that institution of higher 
education.' 
SUMMARY 
This amendment strikes and replaces the bill. It allows the Finance Authority of 
Maine to provide consolidation loans for student debt of Maine students as part of its 
existing Higher Education Loan and Loan Insurance Program. 
FISCAL NOTE REQUIRED 
(See attached) 
COMMITTEE AMENDMENT 
Approved: 04116115 kac 
LD878 
LR 1734(02) 
An Act To Support College Affordability in Maine 
Fiscal Note for BilI as Amended by Committee Amendment 'k CJf-/08) 
Committee: Education and Cultural Affairs 
. 
Fiscal Note Required: Yes 
Fiscal Note 
Minor cost increase - Other funds 
Fiscal Detail and Notes 
Additional costs to the Finance Authority of Maine to provide an education loan consolidation and refinance program 
as part of its existing Higher Education Loan and Loan Insurance Program can be absorbed within existing budgeted 
resources. 
LR1734(02) - Fiscal Note - Page 1 of 1