(a)    The Office of Student Financial Assistance shall adopt regulations to establish:

(1)    The maximum starting income for eligibility in the Janet L. Hoffman Loan Assistance Repayment Program;

(2)    The maximum total income for eligibility in the Janet L. Hoffman Loan Assistance Repayment Program, including any additional sources of income;

(3)    That priority for participation in the Program shall be given to an individual who:

(i)    Graduated from an institution of higher education in the last 3 years;

(ii)    Is a resident of the State;

(iii)    Is employed on a full–time basis; and

(iv)    1.    Provides, as the principal part of the individual’s employment, legal services to low–income residents in the State who cannot afford legal services, nursing services in nursing shortage areas in the State as defined in § 18–802 of this title, or other services in an eligible field of employment in which there is a shortage of qualified practitioners to low–income or underserved residents or areas of the State; or

2.    For teacher applicants only, qualifies for a Nancy Grasmick Teacher Award;

(4)    A limit on the total amount of assistance provided by the Office of Student Financial Assistance in repaying the loan of an eligible individual, based on the individual’s total income and outstanding higher education loan balance;

(5)    A procedure and schedule for the monthly or annual payment of the amount of loan assistance provided by the Office of Student Financial Assistance to the eligible individual, as appropriate to assist an eligible individual in meeting loan forgiveness program requirements;

(6)    A requirement that an eligible individual apply to federal loan forgiveness programs for which the individual may qualify;

(7)    A requirement that an eligible individual notify the Office of Student Financial Assistance if the individual receives other loan repayment assistance; and

(8)    An annual review of the eligibility of each individual participating in the Program.

(b)    The Office of Student Financial Assistance may not approve more than 50% of the total number of awards for teacher applicants to Nancy Grasmick Teacher Scholars.

(c)    The Office of Student Financial Assistance shall adopt any other regulations necessary to implement this subtitle.