1. A. Recipients of the Hoffman LARP are eligible to receive a monthly or annual payment.

2. B. A recipient is eligible for the monthly loan repayment option under the following conditions:

   1. (1) The recipient applies to a federal loan forgiveness program;
   2. (2) The recipient notifies the Office of Student Financial Assistance (OSFA) each year in writing by the designated deadline, with accompanying documentation;
   3. (3) OSFA verifies the recipient’s employment and lender verifications;
   4. (4) OSFA issues a monthly check co-payable to the recipient and their lender, not to exceed 12 payments;
   5. (5) The check shall be issued on or before the recipient’s monthly due date as assigned by their lender, if possible;
   6. (6) The recipient’s monthly payment amount shall be a portion of the total annual award amount awarded to the student;
   7. (7) The recipient shall pay any amount owed the lender which is not covered by the monthly payment amount; and
   8. (8) The recipient shall notify OSFA if they receive other loan repayment assistance.

3. C. A recipient who is not in a federal loan forgiveness program or a recipient that applies to a federal loan forgiveness program and declines to receive a monthly repayment option shall receive an annual loan repayment under the following conditions:

   1. (1) OSFA shall verify the recipient’s employment and lender verification;
   2. (2) OSFA shall issue an annual check co-payable to the recipient and their lender; and
   3. (3) The recipient shall endorse the check and forward it to the lender.
4. D. If a recipient fails to notify OSFA that they receive other loan repayment assistance, their award shall be canceled.

Authority: Education Article, §§11-105(u), 18-204(c), and 18-1503, Annotated Code of Maryland

Effective date: August 28, 2017 (44:17 Md. R. 836)

Regulation .02A, B amended effective July 25, 2022 (49:15 Md. R. 738)