Sec. 731. Education loans
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Subtitle E ( 33 U.S.C. 3071 et seq. ) is amended by adding at the end the following: For the purpose of maintaining adequate numbers of officers of the commissioned officer corps of the Administration on active duty who have skills required by the commissioned officer corps, the Secretary may repay, in the case of a person described in subsection (b), a loan that— was used by the person to finance education; and was obtained from a governmental entity, private financial institution, educational institution, or other authorized entity.
To be eligible to obtain a loan repayment under this section, a person must— satisfy 1 of the requirements specified in subsection (c); be fully qualified for, or hold, an appointment as a commissioned officer in the commissioned officer corps of the Administration; and sign a written agreement to serve on active duty, or, if on active duty, to remain on active duty for a period in addition to any other incurred active duty obligation. One of the following academic requirements must be satisfied for purposes of determining the eligibility of an individual for a loan repayment under this section:
The person is fully qualified in a profession that the Secretary has determined to be necessary to meet identified skill shortages in the commissioned officer corps. The person is enrolled as a full-time student in the final year of a course of study at an accredited educational institution (as determined by the Secretary of Education) leading to a degree in a profession that will meet identified skill shortages in the commissioned officer corps. Subject to the limits established under paragraph (2), a loan repayment under this section may consist of the payment of the principal, interest, and related expenses of a loan obtained by a person described in subsection (b).
For each year of obligated service that a person agrees to serve in an agreement described in subsection (b)(3), the Secretary may pay not more than the amount specified in section 2173(e)(2) of title 10, United States Code. A person entering into an agreement described in subsection (b)(3) incurs an active duty service obligation. Except as provided in subparagraph (B), the length of the obligation under paragraph
(1)shall be determined under regulations prescribed by the Secretary. The regulations prescribed under subparagraph
(A)may not provide for a period of obligation of less than 1 year for each maximum annual amount, or portion thereof, paid on behalf of the person for qualified loans. The active duty service obligation of persons on active duty before entering into the agreement shall be served after the conclusion of any other obligation incurred under the agreement. An officer who is relieved of the officer's active duty obligation under this section before the completion of that obligation may be given any alternative obligation, at the discretion of the Secretary. An officer who does not complete the period of active duty specified in the agreement entered into under subsection (b)(3), or the alternative obligation imposed under paragraph (1), shall be subject to the repayment provisions under section 216. The Secretary shall prescribe regulations to carry out this section, including— standards for qualified loans and authorized payees; and other terms and conditions for the making of loan repayments. . The table of sections in section 1 of the Act entitled An Act to authorize the Hydrographic Services Improvement Act of 1998, and for other purposes ( Public Law 107–372 ) is amended by inserting after the item relating to section 266 the following: Sec. 267. Education loan repayment program. .
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- Pub. L. 107-372
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