Md. Code Regs. 13B.08.02.07

Current through Register Vol. 51, No. 22, November 1, 2024

Section 13B.08.02.07 - Employment Obligations of Award Recipients

A. A recipient shall furnish the Office of Student Financial Assistance (OSFA) with written acceptance of the award and sign a promissory note and employment obligation agreement with OSFA.

B. The promissory note and employment obligation agreement shall include:

(1) The obligations of the recipient;

(2) The total and annual amounts of the award;

(3) Penalties for breach of the promissory note and employment obligation agreement;

(4) Circumstances under which the employment obligation may be canceled, suspended, or waived; and

(5) Any other terms the Maryland Secretary of Higher Education considers necessary.

C. A recipient shall:

(1) Verify eligible employment and salary level initially, after 6 months, and at the end of each year in the program;

(2) Verify the current status of all education loans each year in the program;

(3) Submit a copy of their Maryland tax returns for any year during which an award is received and, if requested, a copy of their federal return; and

(4) Notify OSFA and their lending institutions of any change in employment status or salary level.

Md. Code Regs. 13B.08.02.07

Regulation .07 adopted effective 44:17 Md. R. 836, eff. 8/28/2017