The student achievement council shall develop and administer the state work-study program. The council shall be authorized to enter into agreements with employers and eligible institutions for the operation of the program. These agreements shall include such provisions as the council may deem necessary or appropriate to carry out the purposes of this chapter.
With the exception of off-campus community service placements, the share from moneys disbursed under the state work-study program of the compensation of students employed under such program in accordance with such agreements shall not exceed eighty percent of the total such compensation paid such students.
By rule, the council shall define community service placements and may determine any salary matching requirements for any community service employers.