Announcement, eligibility, and selection

(a) Announcement The Director shall annually announce the ability to apply for the Program and conduct a competition for the selection of finalists, as set forth in this section. (b) Eligibility (1) Application period To apply for participation in the Program, an individual shall— (A) have obtained an advanced degree from a qualifying educational institution not more than 2 years before the date on which the Director makes the applicable announcement under subsection (a); or (B) if the individual is attending a graduate or professional school (such as law school or medical school), as of the date on which the individual applies, expect to complete an advanced degree described in subparagraph (A) not later than August 31 of the academic year in which the competition is held. (2) Service as Fellow An individual may not serve as a Fellow unless the individual has, not more than 2 years before the date on which the individual begins serving as a Fellow, completed an advanced degree from a qualifying educational institution. (3) Multiple applications An individual may apply to participate in the Program more than once if the individual satisfies the applicable eligibility criteria, except that, if an individual becomes a finalist and subsequently applies to participate in the Program during the next open announcement, the individual shall forfeit that status of the individual as a finalist. (c) Selection (1) In general The Director shall select Fellow finalists based on the results of a rigorous structured assessment process, which shall allow the Director to grant a preference for any individual who is preference eligible, as defined in section 2108 of title 5, United States Code, in accordance with the provisions of that title. (2) Publication of list The Director shall publish and provide to agencies a list of Fellow finalists.