Section 457-604-IV - Students Commencing Professional Education On or After September 1, 1971, But Before July 1, 1981A. Repayment 1. The amount due the Authority shall include interest at 6% compounded semi-annually. The accrual of interest shall commence on the same date as the beginning of the repayment period.2. The repayment period shall commence one year following graduation from. or discontinuance of attendance at an osteopathic college.3. Repayment: shall be completed within twelve years of graduation or withdrawal from a college of osteopathic medicineB. Forgiveness 1. A loan recipient who returns to the State to establish a practice immediately following the completion of any internship, residency, obligated public health service or armed forces service may use the forgiveness option in lieu of repaying the loan in cash.2. Loan recipients may reduce their indebtedness by $2,000 for each year of practice in Maine. If the amount of the indebtedness is greater than $2,000, then the years of service must be continuous.3. Any loan recipient who practices in Maine for the necessary number of continuous years to pay off the total indebtedness through service, shall not be obligated to pay any accrued interest.4. A loan recipient who commences a practice in accordance with subsection (1) of this section, but does not maintain the practice in Maine the requisite number of years to pay the full amount of the outstanding indebtedness, shall have the indebtedness reduced by $2,000 for each year of Maine practice, but shall pay the remaining outstanding principal and interest accrued thereon with the date of commencement of accrual being the date of commencement of the repayment period.94- 457 C.M.R. ch. 604, § IV