As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 2007, c. 469, Pt. A, §1 (NEW).]
1. Accredited Maine community college, college or university. "Accredited Maine community college, college or university" means an institution that is accredited by a regional accrediting association or by one of the specialized accrediting agencies recognized by the United States Secretary of Education and is:
A. Any campus of the Maine Community College System; [PL 2007, c. 469, Pt. A, §1 (NEW).]
B. Any campus of the University of Maine System; [PL 2007, c. 469, Pt. A, §1 (NEW).]
C. The Maine Maritime Academy; [PL 2007, c. 469, Pt. A, §1 (NEW).]
D. Any educational institution that is located in this State and has authorization to confer an associate degree or a bachelor's degree, in accordance with sections 10704 and 10704‑A; [PL 2007, c. 469, Pt. A, §1 (NEW).]
E. Any educational institution that is located in this State and is exempted from chapter 409 under section 10708, subsections 1 and 2; and [PL 2007, c. 469, Pt. A, §1 (NEW).]
F. Any educational institution that is located in this State and is operating under a certificate of temporary approval from the state board under section 10703, to the extent that a student is ultimately able either to obtain an associate or a bachelor's degree at that institution or to transfer to and obtain a degree from an institution described in paragraphs A to E. [PL 2007, c. 469, Pt. A, §1 (NEW).]
1-A. Accredited non-Maine community college, college or university.
2. Benchmark loan payment.
2-A. Educational cost-of-living adjustment.
3. Educational institution. "Educational institution" has the same meaning as in section 10701, subsection 3.
4. Educational opportunity tax credit.
4-A. Financial aid package.
5. Maine resident.
6. Opportunity contract.
7. Principal cap.
8. Qualified employee.
9. Qualified individual.