; and (2) grants are paid to recent college graduates to enable such graduates to defray the cost of undertaking further postsecondary courses at an institution of higher education for up to 24 months in subjects relating to mathematics, science, engineering, or technology. (b) Terms and conditions (1) In general A grant under this section may be made on such terms and conditions as the Secretary may determine. (2) Deferral of Federal student loan obligations Each recent college graduate participating in the program under this section (by benefitting from a grant awarded under paragraph (1), or receiving a grant under paragraph (2), of subsection (a)) may defer payment on Federal student loans made to the graduate under title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070 et seq. ) for the period of the graduate’s participation in the program. (3) Grants to eligible employers With respect to a grant awarded under subsection (a)(1)— (A) an eligible employer— (i) may use the grant to defray the cost of compensation for not more than 2 recent college graduates; and (ii) shall provide a compensation amount to each recent college graduate participating in the program that is equal to or greater than the grant amount received by the employer for the graduate; and (B) the Secretary may not award an eligible employer more than $25,000 per recent college graduate. (4) Grants to recent college graduates With respect to a grant awarded under subsection (a)(2) to a recent college graduate, the graduate shall be eligible to receive Federal student aid under title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070 et seq. ) without regard to whether the graduate has been or is delinquent on any Federal student loans made to the graduate under such title IV ( 20 U.S.C. 1070 et seq. ). (c) Definitions In this section: (1) Eligible employer The term eligible employer means an employer that— (A) is a small business concern; or (B) is a major corporation that has an operation located in— (i) an enterprise zone