In this subtitle the following words have the meanings indicated. “Eligible employment” means full-time employment in the State in an occupation requiring a college or university degree in a math or science program. “Higher education loan” means any loan for undergraduate study that is obtained for tuition, educational expenses, or living expenses from: A college or university, government, or commercial source; or An organization, institution, association, society, or corporation that is exempt from taxation under § 501(c)(3) or (4) of the Internal Revenue Code of 1986.

There is a Math/Science Student Corps to encourage students to enroll in math and science programs and work in occupations in Maryland requiring math and science skills. The purpose of the program is to increase the number of graduates who are employed in occupations requiring math and science skills and to provide loan repayment assistance for graduates who work in Maryland. The Office may assist in the repayment of any higher education loan owed by an individual who: Receives an undergraduate degree in a math or science program from a college or university in Maryland; Obtains eligible employment; Participates in activities to encourage other students to pursue math and science degree programs and occupations as may be required by the Office; and Satisfies any other criteria established by the Office. Recipients of loan repayment assistance may participate in the program for a maximum of 4 years. An applicant for assistance in the repayment of a commercial loan shall demonstrate to the Office that the commercial loan was used for tuition, educational expenses, or living expenses for undergraduate study. Assistance in the repayment of a loan from an entity set forth in § 18-1601(c)(2) of this subtitle shall require the approval of the Office.

The Office shall adopt guidelines or regulations to establish: The math and science degree programs and occupations eligible for the program and review them on an annual basis; The criteria for making loan repayment assistance awards; A procedure and schedule for the Office to pay eligible individual loan repayment assistance; and An annual review of the eligibility of each individual participating in the program. The Office shall adopt any other guidelines or regulations necessary to implement this subtitle.

Funds for the Math/Science Student Corps shall be as provided by the Governor in the annual budget of the Commission.