2638

LAWS OF MARYLAND

Ch. 704

(1)  FOR THE BENEFIT OF THE PEOPLE OF PRINCE GEORGE'S
COUNTY, THE CONDUCT AND INCREASE OF THEIR COMMERCE, THE
PROTECTION AND ENHANCEMENT OF THEIR WELFARE, THE DEVELOPMENT OF
CONTINUED PROSPERITY, AND THE IMPROVEMENT OF THEIR HEALTH AND
LIVING CONDITIONS, IT IS ESSENTIAL THAT THIS AND FUTURE
GENERATIONS OF YOUTH BE GIVEN THE FULLEST OPPORTUNITY TO LEARN
AND TO DEVELOP THEIR INTELLECTUAL AND MENTAL CAPACITIES AND
SKILLS;

(2)  TO ACHIEVE THESE ENDS IT IS OF THE UTMOST
IMPORTANCE THAT RESIDENTS OF PRINCE GEORGE'S COUNTY WHO ARE
STUDENTS ATTENDING INSTITUTIONS OF HIGHER EDUCATION HAVE
REASONABLE FINANCIAL ALTERNATIVES TO ENHANCE THEIR ACCESS TO SUCH
INSTITUTIONS;

(3)  REASONABLE FINANCIAL ACCESS TO INSTITUTIONS OF
HIGHER EDUCATION WILL ASSIST SUCH YOUTH IN ACHIEVING THE OPTIMUM
LEVELS OF LEARNING AND DEVELOPMENT OF THEIR INTELLECTUAL AND
MENTAL CAPACITIES AND SKILLS;

(4)  THERE EXISTS A SERIOUS PROBLEM IN PRINCE GEORGE'S
COUNTY AND IN THIS STATE REGARDING THE ABILITY OF STUDENTS TO
OBTAIN FINANCING FOR THE COST OF EDUCATION BEYOND THE HIGH SCHOOL
LEVEL;

(5)  ESCALATING COSTS OF SECURING SUCH AN EDUCATION
HAVE CONTRIBUTED TO THE DIFFICULTIES FACED BY STUDENTS IN
ATTEMPTING TO FINANCE AN EDUCATION;

(6)  WITHOUT THE PUBLIC ACTION AUTHORIZED BY THIS
SUBTITLE, MANY STUDENTS WHO ARE RESIDENTS OF PRINCE GEORGE'S
COUNTY WILL BE FORCED TO POSTPONE OR ABANDON PLANS FOR OBTAINING
ADDITIONAL EDUCATION;

(7)  IT IS IN THE INTERESTS AND WELFARE OF THE
CITIZENS OF PRINCE GEORGE'S COUNTY AND THE STATE TO PROVIDE A
MEANS FOR ASSISTING STUDENTS TO CONTINUE THEIR EDUCATION;

(8)  WITHOUT THE PUBLIC ACTION AUTHORIZED BY THIS
SUBTITLE, THE INABILITY TO OBTAIN EDUCATIONAL FINANCING WILL
RESULT IN DECLINING ENROLLMENTS OF RESIDENTS OF PRINCE GEORGE'S
COUNTY AT INSTITUTIONS OF HIGHER EDUCATION;

(9)  IT IS NECESSARY TO AUTHORIZE PRINCE GEORGE'S
COUNTY TO CREATE A SUPPLEMENTAL HIGHER EDUCATION LOAN AUTHORITY
TO ENCOURAGE THE INVESTMENT OF PRIVATE CAPITAL TO PROVIDE FUNDS
FOR THE FINANCING OF STUDENT LOANS; AND

(10)  THE MAKING OF LOANS, AS PROVIDED HEREIN, TO
LENDING INSTITUTIONS WILL FURTHER THE PURPOSES OF THIS ACT.

(B) THE GENERAL ASSEMBLY DECLARES ITS LEGISLATIVE PURPOSE
TO AUTHORIZE PRINCE GEORGE'S COUNTY: