3.__Public members.__Two members of the public representing businesses that employ engineers to perform a substantial part of their business.

Members serve for terms of 3 years and may be reappointed.

Members of the committee are compensated in accordance with Title 5, chapter 379.

§12524.__Loan repayment agreement application

Beginning July 1, 2007, an eligible employer seeking to fill an eligible employment position with an eligible individual who has outstanding student loans from financial institutions may apply on behalf of that individual to obtain one or more program loan repayment agreements under section 12526.__Applications must be submitted to the authority at a time and in a format to be determined by the authority.

§12525.__Maximum loan repayment; participation

The maximum program loan repayment amount available to each eligible individual, excluding the employer's match under section 12526, is $2,500 per year, for a maximum of 4 years.__No more than 10 program loan repayment agreements may be awarded in any year.__The authority may not award more than 40% of the program loan repayment agreements in any one year to individuals who are eligible under the provisions of section 12521, subsection 5, paragraph B.

§12526.__Eligibility requirements

1.__Program loan repayment agreement.__A program loan repayment agreement may be given only to an individual who is employed in this State in an eligible employment position and who has met other eligibility criteria established by rules of the authority.

2.__Matching funds.__An eligible employer must provide funds to match the amount provided by the authority for program loan repayments under this section.__The employer's match must be paid to the authority for payment to the financial institution holding the employee's student loan and must be in an amount equal to the amount of the program loan repayment to be provided by the authority.