1642

LAWS OF MARYLAND

Ch. 313

DISBURSED BY THE LENDER, [The] THE terms and conditions of
any loan made or guaranteed by the corporation may not
require the borrower to begin repaying the loan earlier than
[9] 6 months or later than 1 year after he ceases to be a
full-time or part-time student at a college or vocational
school. THE BOARD MAY ESTABLISH DIFFERENT GRACE PERIODS FOR
LOANS MADE UNDER DIFFERENT CONDITIONS AS PRESCRIBED BY THE
SECRETARY. However, the board may provide by rule or
regulation that [repayment will not begin:

(1)  While the borrower is a full-time student at
a college or vocational school, or at a comparable
institution approved by the Commissioner; or

(2)  For 3 years while the borrower serves in:

(i) The armed forces;

(ii) The Peace Corps; or

(iii) VISTA.] REPAYMENT MAY BE DEFERRED
UNDER CERTAIN CONDITIONS. DEFERMENT IS AUTHORIZED DURING
PERIODS WHEN A BORROWER IS ENGAGED IN ONE OF THE FOLLOWING
ACTIVITIES:

(1)  FULL TIME STUDY AT AN ELIGIBLE SCHOOL;

(2)  STUDY UNDER A GRADUATE FELLOWSHIP PROGRAM
APPROVED BY THE SECRETARY;

(3)  UP TO 3 YEARS OF ACTIVE DUTY SERVICE IN THE
UNITED STATES ARMED FORCES OR AS AN OFFICER IN THE
COMMISSIONED CORPS OF THE PUBLIC HEALTH SERVICE;

(4)  UP TO 3 YEARS OF VOLUNTEER SERVICE UNDER THE
PEACE CORPS ACT;

(5)  UP TO 3 YEARS OF SERVICE AS A FULL TIME
VOLUNTEER UNDER TITLE I OF THE DOMESTIC VOLUNTEER SERVICE
ACT OF 1973 (ACTION PROGRAMS) OR FOR AN ORGANIZATION WHICH
IS EXEMPT FROM TAXATION UNDER § 501(C)(3) OF THE INTERNAL
REVENUE CODE OF 1954;

(6)  PURSUING A COURSE OF STUDY UNDER A
REHABILITATION TRAINING PROGRAM FOR DISABLED INDIVIDUALS
THAT IS APPROVED BY THE SECRETARY;

(7)  UP TO 3 YEARS DURING WHICH THE BORROWER IS
SERVING AN INTERNSHIP WHICH IS REQUIRED TO BEGIN
PROFESSIONAL PRACTICE OR SERVICE AS DETERMINED BY THE BOARD
AND THE SECRETARY;

(8)  UP TO 3 YEARS DURING WHICH THE BORROWER IS
TEMPORARILY TOTALLY DISABLED AS ESTABLISHED BY SWORN
AFFIDAVIT OF A QUALIFIED PHYSICIAN, OR DURING WHICH THE
BORROWER IS UNABLE TO SECURE EMPLOYMENT BY REASON OF CARE
REQUIRED BY A SPOUSE WHO IS SO DISABLED;