satisfies the requirements for accessioning and commissioning of chaplains, as prescribed in regulations;

holds, or is fully qualified for, an appointment as a chaplain in a reserve component of an armed force; and

signs a written agreement with the Secretary concerned to serve not less than three years in the Selected Reserve.

Subject to paragraph (2), the repayment of a loan under subsection (a) may consist of the payment of the principal, interest, and related expenses of the loan.

The amount of any repayment of a loan made under subsection (a) on behalf of a person may not exceed $20,000 for each three year period of obligated service that the person agrees to serve in an agreement described in subsection (a)(3). Of such amount, not more than an amount equal to 50 percent of such amount may be paid before the completion by the person of the first year of obligated service pursuant to the agreement. The balance of such amount shall be payable at such time or times as are prescribed in regulations.