450/Maryland Manual

Commission works in cooperation with the Univer-
sity of Maryland System.

The Commission consists of thirteen members
appointed to four-year terms by the Governor with
Senate advice and consent. The Governor desig-
nates the chairperson (Code Education Article, sec.
12-113).

MARYLAND HIGHER EDUCATION
LOAN CORPORATION

BOARD OF DIRECTORS

Chairperson: H. Palmer Hopkins, 1988
Vice-Chairperson: J. Joseph Curran, Jr., 1992

Appointed by Governor (who also designates chair
& vice-chair) with Senate advice & consent: Robert
J. Davis, 1988; Matthew C. Fenton III, 1988;
Frank L. Hewitt III, 1990; Margie B. Warres,
1990; William S. Phelps, 1992; Carl W. Stearn,
1992; one vacancy.

Ex officio: Shaila R. Aery, Secretary of Higher Educa-
tion; Douglas S. MacDonald, Executive Director,
State Scholarship Administration; Dr. John S. Toll,
Chancellor, University of Maryland System.

James A. Learner, Jr., Executive Director

2100 Guilford Ave.
Baltimore, MD 21218 333-6555

Budget (Code 36.10.00)
FY1989 Total Appropriation..............$4,316,021
Special Funds.......................................$4,316,021
FY1989 Total Authorized Positions..................16

Annual Report to Governor, General Assembly, State
Bank Commissioner, & Maryland Higher Education
Commission due at end of fiscal year.

MARYLAND HIGHER EDUCATION LOAN
CORPORATION

BOARD OF DIRECTORS

EXECUTIVE COMMITTEE
Elected by Board of Directors

EXECUTIVE DIRECTOR
James A. Learner, Jr........................333-6555

The Maryland Higher Education Loan Corpo-
ration was created in 1963 (Chapter 589, Acts of
1963). The Corporation lends money or directly
guarantees loans made by approved lenders to State
residents who attend or plan to attend colleges or
vocational, trade and technical schools. Aid may
extend to dependent undergraduate, graduate, or
professional students; independent undergradu-
ates; or the parents of such students to help meet
students' educational expenses. Eligible displaced

homemakers also may receive such aid (Chapter
773, Acts of 1984).

The Corporation establishes rules and regula-
tions for the grant, administration, and repayment
of student loans. It also may accept gifts, bequests,
and governmental appropriations or grants for its
purposes.

In addition, the Corporation may enter into
agreements with the U.S. Department of Educa-
tion by which the federal government provides
repayable advance funds to be added to the student
loan reserve. Such agreements also may make Maty-
land residents eligible to receive a federal subsidy
for part of the interest on their loans.

The Maryland Higher Education Loan Corpo-
ration is subject to the supervision and examination
of the State Bank Commissioner.

The Corporation's Board of Directors has eleven
members. With Senate advice and consent, the
Governor appoints nine members for six-year
terms. Two members serve ex officio. The Governor
designates the chairperson and vice-chairperson
(Code Education Article, secs. 18-1001 through
18-1014).

MARYLAND HIGHER EDUCATION
SUPPLEMENTAL LOAN AUTHORITY

Chairperson: J. Paul Melanson, 1991

Appointed by Governor: Anna A. Curry, 1989;
Kevin Edward Davis, 1989; T. Eloise Foster, 1989;
Richelle Emerick, 1990; Gerald H. Spivey, 1990;
Tom Taylor, 1990; Caryl Lee Connor, 1991; Gene
A. Hessey, 1991.

Ex officio: Louis L. Goldstein, Comptroller of the
Treasury; Lucille Maurer, State Treasurer.

Vacancy, Executive Director

100 W Cold Spring Lane, Suite T-4W
Baltimore, MD 21210 435-0922

Nonbudgeted Funds. Authority is self-supporting.

Annual Report to Governor, Comptroller of the Trea-
sury, Senate President, House Speaker, and Secretary of
Budget & Fiscal Planning due Jan.

The Maryland Higher Education Supplemental
Loan Authority was created in 1982 (Chapter 488,
Acts of 1982). The Authority issues tax-exempt
revenue bonds, notes, or other evidences of indebt-
edness on behalf of participating colleges and uni-
versities, which use the proceeds for student loans.
Loan applications and brochures describing the
loan program are available upon request. The Au-
thority is self-supporting and does not receive an
appropriation of State funds.