| | | C.__That the applicant is willing to accept and maintain | | employment in an eligible employment position. |
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| | | 3.__Application.__An application to the program must be made | | directly to the authority at a time and in a format to be | | determined by the authority. |
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| | | 4.__Maximum loan repayment.__The maximum loan repayment amount | | available to a participant in the program is $5,000 per year for | | a maximum of 4 years. |
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| | | 5.__Loan repayment agreement; provisions.__The authority shall | | enter into loan repayment agreements with participants, on terms | | and conditions acceptable to the authority, which at a minimum | | must require the participant and the participant's employer to | | certify annually, before payment of any installment by the | | authority under the loan repayment agreement, that the | | participant has been employed in an eligible employment position | | for the preceding 12-month period.__Payment of any installment by | | the authority must be made directly for credit to the | | participant's account at the financial institution certified by | | the participant as responsible for administration of that | | person's student loans. |
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| | | A nonlapsing, interest-earning, revolving fund under the | | jurisdiction of the authority is created to carry out the | | purposes of this chapter.__The authority may receive, invest and | | expend, on behalf of the fund, money from gifts, grants, bequests | | and donations in addition to money appropriated or allocated by | | the State.__Money received by the authority under this chapter | | must be invested by the authority, as provided by law, with the | | earned income to be added to the fund.__Money in the fund, except | | interest income, must be used for the designated purpose of the | | fund; interest income may be used for the designated purpose or | | to pay administrative costs incurred by the authority for the | | operation of the program. |
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| | | The authority shall establish rules necessary to implement | | this chapter.__Rules adopted pursuant to this section are routine | | technical rules as defined in Title 5, chapter 375, subchapter 2- | | A. |
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| | | The authority shall report on the program to the policy-making | | body established to direct a coordinated effort to |
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