(1) IN GENERAL.—Except as provided in para-
graph (2) or (3), the term of each member (other 
than the ex officio member) shall be 6 years. 
(2) INITIAL
APPOINTEES.—As designated by 
the President at the time of appointment, of the 
members first appointed— 
(A) 1 member appointed under subsection 
(b)(2) and 2 members appointed under sub-
section (b)(3) shall be appointed for a term of 
2 years; 
(B) 1 member appointed under subsection 
(b)(1) and 2 members appointed under sub-
section (b)(3) shall be appointed for a term of 
4 years; and 
(C) 1 member appointed under subsection 
(b)(1), 1 member appointed under subsection 
(b)(2), and 1 member appointed under sub-
section (b)(3) shall be appointed for a term of 
6 years. 
(3) VACANCIES.—Any member appointed to fill 
a vacancy occurring before the expiration of the 
term for which the member’s predecessor was ap-
pointed shall be appointed only for the remainder of 
that term. A vacancy on the Board shall be filled in 
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the manner in which the original appointment was 
made. 
(d) COMPENSATION.—Members of the Board shall 
serve without pay, but shall be entitled to reimbursement 
for travel, subsistence, and other necessary expenses in-
curred in the performance of their duties as members of 
the Board. 
SEC. 5. ROOSEVELT SCHOLARS. 
(a) IN GENERAL.—The Foundation shall award 
scholarships to graduate students who demonstrate out-
standing potential for a career in a mission-critical occu-
pational area within the Federal Government. The recipi-
ent of a scholarship under this Act shall be known as a 
‘‘Roosevelt Scholar’’. 
(b) SELECTION PROCESS.— 
(1) NATIONWIDE COMPETITION.—The Founda-
tion shall, directly or by contract— 
(A) provide for the conduct of an annual 
nationwide competition, including an application 
and interview process, for the purpose of select-
ing Roosevelt Scholars; and 
(B) market the scholarship program to di-
verse populations. 
(2) CRITERIA AND PROCEDURES.—The Foun-
dation shall adopt selection criteria and procedures 
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to ensure a diverse cohort of scholarship recipients 
each year who— 
(A) at the time of applying for a scholar-
ship under this Act, are enrolled in or seeking 
admission to an accredited full-time graduate 
degree program at an institution of higher edu-
cation in a discipline that is determined by the 
Foundation to be directly related to 1 or more 
mission-critical occupational areas within the 
Federal Government; 
(B) have been nominated by an appro-
priate faculty member or other representative of 
the institution of higher education in which 
they are enrolled, of which they are a graduate, 
or to which they are seeking admission, or by 
another individual, approved by the Foundation, 
who has direct knowledge of the candidate’s 
academic or work experience; and 
(C) are citizens or legal permanent resi-
dents of the United States. 
(c) SCHOLARSHIP AMOUNTS.—Each student awarded 
a scholarship under this Act shall receive, for each aca-
demic year in which such student is enrolled full time in 
the graduate degree program described in subsection 
(b)(2)(A), the cost of tuition plus a stipend, except that— 
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(1) the stipend awarded under this Act to a 
student for an academic year may not exceed the 
lesser of— 
(A) a monthly living stipend of not more 
than $300 per month and an amount equal to 
the cost to the student, for such academic year, 
of— 
(i) room and board; 
(ii) books; and 
(iii) materials and fees associated with 
coursework; or 
(B) $12,000 (adjusted annually to reflect 
any increase in the consumer price index for all 
urban consumers, as published by the Bureau 
of Labor Statistics); 
(2) the total scholarship awarded under this 
Act to a student for an academic year, for tuition 
and stipend combined, may not exceed— 
(A) $60,000 (adjusted at the same time 
and in the same manner as the dollar amount 
under paragraph (1)(B)), minus 
(B) the sum of all scholarships, grants, or 
other similar cash awards received by the stu-
dent for such academic year from any source 
apart from this Act; and 
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(3) scholarships under this Act may be awarded 
to a student for such periods as the Foundation may 
prescribe, but not to exceed 5 academic years. 
(d) SCHOLARSHIP CONDITIONS.— 
(1) SATISFACTORY
PROFICIENCY.—A student 
awarded a scholarship under this Act shall continue 
to receive the payments provided for under this Act 
only during such periods as the Foundation finds 
that such student is maintaining satisfactory pro-
ficiency and devoting full time to study or research 
designed to prepare such student for a career in the 
Federal Government, unless otherwise approved by 
the Foundation. 
(2) REPORTS.—The Foundation may require 
reports containing such information, in such form, 
and to be filed at such times as the Foundation de-
termines to be necessary from any student awarded 
a scholarship under this Act. Such reports shall be 
accompanied by a certificate from an appropriate of-
ficial at the institution of higher education, approved 
by the Foundation, stating that such individual is 
making satisfactory progress in, and is devoting es-
sentially full time to study or research, except as 
otherwise provided in this subsection. 
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An amount under this paragraph shall be treated as 
a Federal Direct Unsubsidized Stafford Loan under 
part D of title IV of the Higher Education Act of 
1965 (20 U.S.C. 1087a and following), and shall be 
subject to repayment, together with interest thereon 
accruing from the date of the scholarship award, in 
accordance with terms and conditions specified by 
the Secretary of Education in regulations under this 
subpart. 
(3) REGULATIONS.—The Foundation, in con-
sultation with the Office of Personnel Management, 
shall prescribe any regulations necessary to carry 
out this subsection, including provisions under which 
the service requirement specified by paragraph (1) 
or a repayment otherwise required under paragraph 
(2) may be waived, in whole or in part, or deferred, 
in appropriate circumstances. 
(b) INTERNSHIP REQUIREMENT.— 
(1) IN GENERAL.—Roosevelt Scholars shall be 
required to complete at least 1 internship related to 
their field of study in a Federal agency while earn-
ing their graduate or other advanced degree. 
(2) REGULATIONS.—The Foundation, in con-
sultation with the Office of Personnel Management, 
shall prescribe any regulations necessary to carry 
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out this subsection, including provisions under which 
the internship requirement specified by subsection 
(b) may be waived in appropriate circumstances. 
(c) PARTICIPATION IN EXTRACURRICULAR ACTIVI-
TIES.—While earning their graduate or other advanced 
degree and during their period of obligated service (as de-
scribed in subsection (a)), Roosevelt Scholars shall be re-
quired, in accordance with such terms as the Foundation 
shall establish, to participate in extracurricular activities 
as described in section 12(a)(5). 
(d) AVAILABILITY AS A SOURCE OF INFORMATION.— 
(1) IN GENERAL.—While earning their graduate 
or other advanced degree and during their period of 
obligated service (as described in subsection (a)), 
Roosevelt Scholars shall be required, in accordance 
with such terms as the Foundation shall establish, 
to serve as a resource for— 
(A) individuals interested in becoming a 
Roosevelt Scholar or seeking temporary or per-
manent employment with the Federal Govern-
ment; 
(B) faculty, career services professionals, 
and other personnel at institutions of higher 
education who advise students on career and 
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other scholarship opportunities with the Federal 
Government; and 
(C) Federal agencies which might be inter-
ested in promoting, at the institution of higher 
education at which the student is enrolled, ca-
reer opportunities with the Federal Govern-
ment. 
(2) MEMORANDA
OF
UNDERSTANDING.—The 
Foundation may enter into memoranda of under-
standing with any institution of higher education re-
garding any facilities or resources that will be made 
available to Roosevelt Scholars for purposes of this 
subsection. 
(3) TRAINING.—The Foundation, in coopera-
tion with the Office of Personnel Management, may 
provide for Roosevelt Scholars to receive any train-
ing which they might need in order to carry out 
their responsibilities under this subsection. 
SEC. 7. SPECIAL HIRING AUTHORITY. 
Under such regulations as the Office of Personnel 
Management shall prescribe, a Federal agency may make 
a noncompetitive appointment (in the excepted service, as 
defined by section 2103 of title 5, United States Code, 
leading to conversion to career or career-conditional em-
ployment) of any Roosevelt Scholar who has successfully 
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completed the program of study for which the scholarship 
was granted. A noncompetitive appointment under this 
section shall be for a period not to exceed 2 years, and 
shall be to a mission-critical position, with the possibility 
of an extension for one additional year by the employing 
agency. At the end of the period of the noncompetitive 
appointment, conversion to career or career-conditional 
employment in a mission-critical position shall be granted 
to those Roosevelt Scholars who meet all qualification, 
suitability, and performance requirements. 
SEC. 8. THEODORE ROOSEVELT MEMORIAL SCHOLARSHIP 
TRUST FUND. 
(a) ESTABLISHMENT.—There is established in the 
Treasury of the United States a trust fund to be known 
as the ‘‘Theodore Roosevelt Memorial Scholarship Trust 
Fund’’ to be administered by the Foundation. The Fund 
shall consist of amounts appropriated to it pursuant to 
section 14 and amounts paid into the Fund pursuant to 
section 11(a)(4). 
(b) INVESTMENT
IN INTEREST-BEARING OBLIGA-
TIONS.— 
(1) IN GENERAL.—Upon request by the Foun-
dation, it shall be the duty of the Secretary of the 
Treasury to invest such currently available portions 
of the Fund as are not, in the judgment of the Sec-
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retary, immediately required for payments from the 
Fund. Such investments may be made only in inter-
est-bearing obligations of the United States or in ob-
ligations guaranteed as to both principal and inter-
est by the United States. 
(2) ACQUISITION OF OBLIGATIONS.—The pur-
poses for which obligations of the United States may 
be issued under chapter 31 of title 31, United States 
Code, are hereby extended to authorize the issuance 
at par of special obligations directly to the Fund. 
Such special obligations shall bear interest at a rate 
equal to the average rate of interest, computed as to 
the end of the calendar month next preceding the 
date of such issue, borne by all marketable interest- 
bearing obligations of the United States then form-
ing a part of the public debt; except that where such 
average rate is not a multiple of one-eighth of 1 per 
centum, the rate of interest of such special obliga-
tions shall be the multiple of one-eighth of 1 per 
centum next lower than such average rate. All re-
quests of the Foundation to the Secretary of the 
Treasury provided for in this section shall be binding 
upon the Secretary. 
(c) AUTHORITY TO SELL OBLIGATIONS.—At the re-
quest of the Foundation, the Secretary of the Treasury 
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