; and (2) the Secretary agrees to make payments in accordance with subsection (b) on the dental education loans of the dentist. (b) Manner of payments The payments described in subsection (a) shall be made by the Secretary as follows: (1) Upon completion by the dentist for whom the payments are to be made of the first year of the service specified in the agreement entered into with the Secretary under subsection (a), the Secretary shall pay 30 percent of the principal of and the interest on the dental education loans of the dentist. (2) Upon completion by the dentist of the second year of such service, the Secretary shall pay another 30 percent of the principal of and the interest on such loans. (3) Upon completion by that individual of a third year of such service, the Secretary shall pay another 25 percent of the principal of and the interest on such loans. (c) Applicability of certain provisions Subpart III of part D of title III of the Public Health Service Act ( 42 U.S.C. 254l et seq.) shall, except as inconsistent with this section, apply to the program carried out under this section in the same manner and to the same extent as such provisions apply to the National Health Service Corps Loan Repayment Program. (d) Reports Not later than 18 months after the date of the enactment of this Act, and annually thereafter, the Secretary shall prepare and submit to the Congress a report describing the program carried out under this section, including statements regarding the following: (1) The number of dentists enrolled in the program. (2) The number and amount of loan repayments. (3) The placement location of loan repayment recipients at facilities described in subsection (a)(1). (4) The default rate and actions required. (5) The amount of outstanding default funds. (6) To the extent that it can be determined, the reason for the default. (7) The demographics of individuals participating in the program. (8) An evaluation of the overall costs and benefits of the program. (e) Definitions In this section: (1) Dental