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cipient of the name and scholarship amount of 
the recipient; 
‘‘(G) what procedures and assurances the 
applicant and the institution of higher education 
that the recipient attends will use to verify stu-
dent eligibility, attendance, degree progress, and 
academic performance and to deliver and ac-
count for payments to such institution; 
‘‘(H) the management (including audit and 
accounting) procedures the applicant will use for 
the program; 
‘‘(I) the human, financial, and other re-
sources that the applicant will need and use to 
manage the program; 
‘‘(J) how the applicant will evaluate the 
program and report to the Secretary annually; 
and 
‘‘(K) a description of how the entity will co-
ordinate with, complement, and build on similar 
public and private mathematics and science pro-
grams. 
‘‘(f) SCHOLARSHIP RECIPIENTS.— 
‘‘(1) A student receiving a scholarship under this 
section shall be known as a ‘Byrd Mathematics and 
Science Honors Scholar’.
164 
‘‘(2) Any student desiring to receive a scholar-
ship under this section shall submit an application to 
the managing agent in such form, and containing 
such information, as the managing agent may re-
quire. 
‘‘(3) Any student that receives a scholarship 
under this section shall enter into an agreement with 
the managing agent to complete 5 consecutive years 
of service to begin no later than 12 months following 
completion of the final degree in a position related to 
physical, life, or computer sciences, mathematics, or 
engineering as defined under this section. 
‘‘(4) If any student that receives a scholarship 
under this section fails to earn at least a bacca-
laureate degree in physical, life, or computer sciences, 
mathematics, or engineering as defined under this sec-
tion, the student shall repay to the managing agent 
the amount of any financial assistance paid to such 
student. 
‘‘(5) If any student that receives a scholarship 
under this section fails to meet the requirements of 
paragraph (3), the student shall repay to the man-
aging agent the amount of any financial assistance 
paid to such student.
165 
‘‘(6)(A) Scholarships shall be awarded for only 
one academic year of study at a time. 
‘‘(B)(i) A scholarship shall be renewable on an 
annual basis for the established length of the academic 
program if the student awarded the scholarship re-
mains eligible. 
‘‘(ii) The managing agent may condition re-
newal of a scholarship on measures of academic 
progress and achievement, with the approval of the 
Secretary. 
‘‘(C)(i) If a student fails to either remain eligible 
or meet established measures of academic progress 
and achievement, the managing agent shall instruct 
the student’s institution of higher education to sus-
pend payment of the student’s scholarship. 
‘‘(ii) A suspension of payment shall remain in 
effect until the student is able to demonstrate to the 
satisfaction of the managing agent that he or she is 
again eligible and meets the established measures of 
academic progress and achievement. 
‘‘(iii) A student’s eligibility for a scholarship 
shall be terminated if a suspension period exceeds 12 
months. 
‘‘(D)(i)(I) A student awarded a scholarship may, 
in a manner and under the terms established by, and
166 
with the approval of, the managing agent, postpone 
or interrupt his or her enrollment at an institution 
of higher education for up to 12 months. 
‘‘(II) Such a postponement or interruption 
shall not be considered a suspension for purposes 
of subparagraph (C). 
‘‘(ii) Neither a student nor the student’s institu-
tion of higher education shall receive the student’s 
scholarship payments during the period of postpone-
ment or interruption, but such payments shall resume 
upon enrollment or reenrollment. 
‘‘(iii) In exceptional circumstances, such as seri-
ous injury or illness or the necessity to care for fam-
ily members, the student’s postponement or interrup-
tion may, upon notification and approval of the 
managing agent, be extended beyond the 12 month pe-
riod described in clause (i)(I). 
‘‘(g) RESPONSIBILITIES OF INSTITUTION OF HIGHER 
EDUCATION.— 
‘‘(1) The managing agent shall require any in-
stitution of higher education that enrolls a student 
who receives a scholarship under this section to annu-
ally provide an assurance, prior to making any pay-
ment, that the student—
167 
‘‘(A) is eligible in accordance with subsection 
(b)(2); and 
‘‘(B) has provided the institution with a written 
commitment to attend, or is attending, classes and is 
satisfactorily meeting the institution’s academic cri-
teria for enrollment in its program of study. 
‘‘(2)(A) The managing agent shall provide the 
institution of higher education with payments from 
the Fund for selected recipients in at least two install-
ments. 
‘‘(B) An institution of higher education shall re-
turn prorated amounts of any scholarship payment to 
the managing agent, who shall deposit it in to the 
Fund, if a recipient declines a scholarship, does not 
attend courses, transfers to another institution of 
higher education, or becomes ineligible for a scholar-
ship. 
‘‘SEC. 419B. MATHEMATICS AND SCIENCE INCENTIVE PRO-
GRAM. 
‘‘(a) PROGRAM.— 
‘‘(1) IN GENERAL.—The Secretary is authorized 
to carry out a program of assuming the obligation to 
pay, pursuant to the provisions of this section, the in-
terest on a loan made, insured, or guaranteed under 
part B or D of this title.