Obligated Service Agreement - Student Loan Repayment Plan - Maryland

Obligated Service Agreement - Student Loan Repayment Plan is a legal document that was released by the Maryland Department of Budget and Management - a government authority operating within Maryland.

FAQ

Q: What is an Obligated Service Agreement?A: An Obligated Service Agreement is an agreement between a borrower and the state of Maryland in which the borrower agrees to work in a designated profession or area in exchange for loan repayment benefits.

Q: What is the Student Loan Repayment Plan in Maryland?A: The Student Loan Repayment Plan in Maryland is a program that offers financial assistance to individuals who agree to work in certain professions or areas of need in the state in exchange for help with repaying their student loans.

Q: Who is eligible for the Obligated Service Agreement - Student Loan Repayment Plan in Maryland?A: Eligibility for the program varies depending on the specific profession or area of need, but generally individuals with certain degrees or certifications who commit to working in designated fields in Maryland are eligible.

Q: What professions or areas of need qualify for loan repayment benefits?A: Professions and areas of need that may qualify for loan repayment benefits in Maryland include healthcare providers, teachers, lawyers, and others. The specific criteria and requirements can vary.

Q: How does the Obligated Service Agreement work?A: Under the Obligated Service Agreement, a borrower agrees to work for a specified period of time in a designated profession or area of need in Maryland. In return, the state offers loan repayment benefits.

Q: What are the benefits of participating in the Student Loan Repayment Plan?A: The benefits of participating in the Student Loan Repayment Plan include assistance with repaying student loans, which can help alleviate financial burden for borrowers.