Section 457-610-4 - LOANS TO UNDERGRADUATE STUDENTSA. Initial Loan Eligibility (1) The student must be currently enrolled or accepted for enrollment in a course of study leading to a certification as a teacher or speech pathologist or to attainment of child care provider qualifications in an institution of higher education.(2) The student must be a graduate of a Maine high school, or the equivalent thereof, and a resident of Maine or a graduate of other than a Maine high school or the equivalent and a resident of Maine at least one year for other than educational purposes.(3) The student must have a minimum 3.0 grade point average on a 4.0 grade point system or the equivalent thereof as determined in the discretion of the chief executive officer.(4) The student must sign an agreement that details conditions to be met for receipt of a loan.(7) The student must have filed the FAFSA by May 1 of the year of initial application.B. Renewal Loan Eligibility (1) The student must have received an initial loan.(2) The student must submit a completed renewal application annually for a loan on or before the deadline date and must have filed the FAFSA by May 1 of the renewal year.(3) The student must maintain at a minimum a 2.5 grade point average based on a 4.0 grade point system, or the equivalent thereof as determined in the discretion of the chief executive officer. Should the GPA fall below 2.5, the student has one academic year to bring the GPA up to 2.5. If this requirement is not met the student will be ineligible for further program participation.(4) A student granted an approved leave of absence by the postsecondary institution may be eligible to renew the loan at the termination of the leave of absence provided that all other requirements of this section are met.(5) The student must sign an agreement that details conditions to be met for receipt of a loan.(6) The student must maintain residence in the State of Maine in order to be eligible for a renewal loan.C. Deferral. Acceptance of an initial award or renewal of a previous award may be deferred for one academic year only. If an individual approved for a loan fails to be duly enrolled in an institution of higher education, as defined by these rules, by the beginning of the second academic year which follows the student's initial loan award or renewal award the student shall be ineligible for further program participation.94- 457 C.M.R. ch. 610, § 4