MARVIN MANDEL, Governor                       1353-

Program"; and to repeal Section 7A of said Article of said Code,
title "Higher Education Loan Program" to redefine the terms and
conditions of repayment of certain loans under this Article and
to repeal the terms and conditions of repayment of vocational
school loans.

Section 1. Be it enacted by the General Assembly of Maryland,
That Sections 5 (a) (1), 5 (a) (2), 7 (a) and 7 (b) of Article 43A
of the Annotated Code of Maryland (1968 Supplement), title "Higher
Education Loan Program," be and they are hereby repealed and
re-enacted, with amendments; and that Section 7A of said Article
of said Code, title "Higher Education Loan Program," be and it is
hereby repealed, and all to read as follows:

5.

(a) (1) To lend money, upon such terms and conditions as the
board may prescribe, within the limitations contained in this Article,
to persons who are residents of this State and who have been accepted
for enrollment or who are in good standing at eligible colleges or
vocational schools in this State or elsewhere, to assist them in meet-
ing their expenses of education; provided, however, that no such
person shall receive any loan or loans of more than one thousand
five hundred dollars for any academic year [if he is attending a
college, nor more than one thousand dollars for any academic year
if he is attending a vocational school,] and that no such person shall
receive said loan or loans for more than six academic years or their
equivalent; and

(2) To guarantee the loan of money, upon such terms and con-
ditions as the board may prescribe, within the limitations contained
in this Article, to persons who are residents of this State and who
have been accepted for enrollment or who are in good standing at
eligible colleges or vocational schools in this State or elsewhere, to
assist them in meeting their expenses of education; provided, how-
ever, that no loan to such a person shall be guaranteed to an amount
of more than one thousand five hundred dollars for any academic
year [if he is attending a college, nor more than one thousand dollars
for any academic year if he is attending a vocational school,] and
that such loan or loans shall not be guaranteed for more than six
academic years or their equivalent.

7. Terms and conditions of repayment of [college] loan.

(a) The terms and conditions of any [college] loan made or guar-
anteed by the corporation shall not require the borrower thereof to
commence the repayment of his loan earlier than nine months or
later than one year after he ceases to pursue a full-time or part-time
course of study at an eligible college or vocational school; provided,
however, that the board may, by rule, provide that such repayment
shall not commence during any period (1) during which the borrower
is pursuing a full-time course of study at an institution of higher
education or vocational education or at a comparable institution ap-
proved by the United States Commissioner of Education; (2) not in
excess of