Section 125-811-04 - Eligibility of education loan paymentsA.Generally. Eligible education loan payments are payments paid directly by the qualified individual to the lender with respect to loans that are in the name of the qualified individual and that are part of the qualified individual's financial aid package. Only those loan payments made during that part of the taxable year that the qualified individual is a Maine resident qualify for the credit.B.Refinanced and consolidated loans. Payments made with respect to refinanced loans or consolidated loans that are part of the qualified individual's financial aid package are eligible for the credit if the refinanced loans or consolidated loans remain separate from other debt, but only in proportion to the portion of the loan payments that are otherwise eligible.C.Payments reimbursed by employer. Eligible loan payments for which the qualified individual is reimbursed by an employer are eligible for the credit.D.Education loan payments not eligible. The following education loan payments are not eligible for the credit:1. An otherwise qualified individual may not claim payments made on their behalf by another individual or by an employer;2. Except in the case of a spouse filing jointly with a qualified individual, an individual may not claim payments that they have made on behalf of an otherwise qualified individual;3. Payments made on loans obtained from a person related to the qualified individual;4. Payments made on loans obtained from a qualified employer plan;5. Payments made on loans under a contract purchased under a qualified employer plan;6. Payments made by the qualified individual prior to the award of their degree.E.Refunded loan payments. Loan payments that are refunded by the lender, including refunds occurring after the last day of the taxable year, are not considered to have been paid and may not be claimed for purposes of the SLRTC. If a return claiming the credit was filed prior to the refund of payments, an amended return for the taxable year must be filed by the taxpayer to recalculate the SLRTC.18-125 C.M.R. ch. 811, § 04