State Codes and Statutes
Statutes > Maine > Title20a > Title20-Ach418sec0 > Title20-Asec11501Title 20-A: EDUCATION
Part 5: POST-SECONDARY EDUCATION
Chapter 418: STUDENT LOAN CORPORATIONS
§11501. Declaration of policy
It is declared to be the policy of this State that, for the benefit of the people of the State, the increase of their commerce, welfare and prosperity and the improvement of their health and living conditions, it is essential that students attending the state's higher educational institutions be given the fullest opportunity to learn and develop their intellectual and mental capacities. It is recognized that the financial costs to obtain an education beyond the high school level are often burdensome or prohibitive, and it is essential that qualified students be provided with low-cost financial assistance in order to attend those schools and to reduce the total amount of loan payments following graduation. It is essential that educational institutions within the State be provided with appropriate additional means to assist qualified students financially in achieving the required levels of learning and development of their intellectual and mental capacities. The Legislature has conferred certain powers on student loan corporations and on the Maine Health and Higher Educational Facilities Authority to assure the successful origination, distribution and collection of loans so as to accomplish the purposes of this chapter, all to the public benefit and good. It is declared that the exercise by the student loan corporations of the authority of powers conferred under this chapter will constitute the performance of an essential governmental function. [1983, c. 422, §21 (NEW).]
SECTION HISTORY
1983, c. 422, §21 (NEW).
