7.__Postsecondary educational institution.__"Postsecondary educational institution" includes public and private postsecondary educational institutions and postgraduate institutions.

§6603.__Program administration

The program is administered by the bureau.

§6604.__Eligibility for program

A person is eligible to participate in the program if that person meets the requirements of this section.

1.__Employee of qualified business.__The person holds an eligible employment position.

2.__Graduate within previous 4 years.__The person must have obtained a degree no earlier than 4 years prior to the commencement of employment in an eligible employment position.

3.__Commitment.__The person must commit to a minimum of 4 years of employment with a qualified business.

4.__Education loan.__The person must have an outstanding education loan.

§6605.__Application; loan payment deduction

1.__Application; notice to employer.__An eligible graduate may participate in the program by applying to the bureau through application forms obtained from the qualified business.__Upon acceptance of the eligible graduate into the program, the bureau shall notify the qualified business of the eligible graduate's participation.__Payments made pursuant to subsection 2 by the employer must be reported to the bureau.

2.__Loan payment deduction.__Notwithstanding any other provision of this Title, a qualified business that employs an eligible graduate accepted into the program shall, not fewer than 4 times each year, forward the Maine taxes withheld from the eligible graduate's pay for the previous quarter to the financial institution holding the eligible graduate's education loan.__The amount withheld pursuant to this subsection must be equal to withholding at the Maine single individual income tax rate.__An eligible graduate may elect to have a greater amount withheld and forwarded.