(a) Awards shall be available under this Part to all individuals selected as recipients by the New York State Department of Health who meet the eligibility criteria set forth in the regulations of the New York State Department of Health in 10 NYCRR Part 47 and who, in addition, fulfill the criteria set forth in this Part.

Award recipients shall fulfill the criteria regarding applications set forth in section 2201.1(a) of this Title.

Award recipients shall fulfill the criteria applicable to full-term study set forth in section 2201.1(f) of this Title.

Failure to maintain good academic standing, as defined by the commissioner in section 145-2.2 of this Title, shall be grounds for the suspension of an award recipient's eligibility to receive payments for an award, until such award recipient is reinstated in good academic standing in accordance with standards established pursuant to section 145-2.2 of this Title.

Notwithstanding the fulfillment of all eligibility requirements set forth in this section, any award recipient who is in default of the repayment of a student loan guaranteed by the corporation, or who has failed to fulfill a professional service requirement of any award made pursuant to this Subchapter, shall not be eligible to receive payment for any award made under this Subchapter for so long as such default status continues, or unless and until the award recipient has made arrangement satisfactory to the president for the repayment of such student loan.