The chair of the county board is entitled to receive $18,000 annually as compensation and the other elected members are entitled to receive $16,000 each annually as compensation. After submitting vouchers under the rules and regulations adopted by the county board, the chair and the other elected members are entitled to receive reimbursement for travel and other expenses as provided in the Howard County budget. The employer’s share for State retirement and pension contributions made on behalf of the chair and other elected board members may not be considered compensation for the purpose of calculating compensation under subsection (a) of this section. The chair and other elected board members may participate in health insurance and other benefit programs sponsored by the board. An elected board member’s participation in a benefit program sponsored by the board under this subsection may not be considered compensation for the purpose of calculating compensation under subsection (a) of this section. A student member who completes a full term on the board shall be entitled to a scholarship of $5,000 to be applied to the student’s higher education costs. The scholarship shall be paid directly to the educational institution that the student attends. A student may receive only one scholarship regardless of the number of terms the student serves as the student member of the county board. The scholarship may not be considered compensation for the purpose of calculating taxable income. On the submission of expense vouchers, the student member is entitled to reimbursement for travel and other expenses incurred in the performance of official duties for the county board. The student member is not entitled to any compensation or payment other than that specified under paragraphs (1) and (2) of this subsection for their work as the student member of the county board.