((a)) ** Authority to repay education loans** For the purpose of maintaining adequate numbers of officers of the commissioned officer corps of the Administration on active duty who have skills required by the commissioned officer corps, the Secretary may repay, in the case of a person described in subsection (b), a loan that—
((1)) was used by the person to finance education; and
((2)) was obtained from a governmental entity, private financial institution, educational institution, or other authorized entity.
((b)) ** Eligible persons** To be eligible to obtain a loan repayment under this section, a person must—
((1)) satisfy one of the requirements specified in subsection (c);
((2)) be fully qualified for, or hold, an appointment as a commissioned officer in the commissioned officer corps of the Administration; and
((3)) sign a written agreement to serve on active duty, or, if on active duty, to remain on active duty for a period in addition to any other incurred active duty obligation.
((c)) ** Academic and professional requirements** One of the following academic requirements must be satisfied for purposes of determining the eligibility of an individual for a loan repayment under this section:
((1)) The person is fully qualified in a profession that the Secretary has determined to be necessary to meet identified skill shortages in the commissioned officer corps of the Administration.
((2)) The person is enrolled as a full-time student in the final year of a course of study at an accredited educational institution (as determined by the Secretary of Education) leading to a degree in a profession that will meet identified skill shortages in the commissioned officer corps of the Administration.
((d)) ** Loan repayments**
((1)) ** In general** Subject to the limits established under paragraph (2), a loan repayment under this section may consist of the payment of the principal, interest, and related expenses of a loan obtained by a person described in subsection (b).
((2)) ** Limitation on amount** For each year of obligated service that a person agrees to serve in an agreement described in subsection (b)(3), the Secretary may pay not more than the amount specified in .section 2173(e)(2) of title 10
((e)) ** Active duty service obligation**
((1)) ** In general** A person entering into an agreement described in subsection (b)(3) incurs an active duty service obligation.
((2)) ** Length of obligation determined under regulations**
((A)) ** In general** Except as provided in subparagraph (B), the length of the obligation under paragraph (1) shall be determined under regulations prescribed by the Secretary.
((B)) ** Minimum obligation** The regulations prescribed under subparagraph (A) may not provide for a period of obligation of less than one year for each maximum annual amount, or portion thereof, paid on behalf of the person for qualified loans.
((3)) ** Persons on active duty before entering into agreement** The active duty service obligation of persons on active duty before entering into the agreement shall be served after the conclusion of any other obligation incurred under the agreement.
((4)) ** Concurrent completion of service obligations** A service obligation under this section may be completed concurrently with a service obligation under .section 3006 of this title
((f)) ** Effect of failure to complete obligation**
((1)) ** Alternative obligations** An officer who is relieved of the officer’s active duty obligation under this section before the completion of that obligation may be given any alternative obligation, at the discretion of the Secretary.
((2)) ** Repayment** An officer who does not complete the period of active duty specified in the agreement entered into under subsection (b)(3), or the alternative obligation imposed under paragraph (1), shall be subject to the repayment provisions under .section 3006 of this title
((g)) ** Rulemaking** The Secretary shall prescribe regulations to carry out this section, including—
((1)) standards for qualified loans and authorized payees; and
((2)) other terms and conditions for the making of loan repayments.