(a) To be eligible to receive the Arkansas High Technology Scholarship, a student must meet the following requirements:

1. (1) The recipient must be accepted for enrollment as a full-time student in an approved high technology program at an Arkansas public or private postsecondary institution;

2. (2)

   1. (A) The student must be a bona fide resident of the State of Arkansas prior to graduation from high school.
   2. (B) Preference will be given to students who use their award the same year they graduate from high school;
3. (3) The student must be a citizen of the United States or a permanent resident alien;
4. (4) The student must meet minimum qualifications of superior academic ability established for the Arkansas High Technology Scholarship Program by the Division of Career and Technical Education; and
5. (5) The student must demonstrate superior achievement, ability, and leadership capabilities.

(b)

1. (1) The scholarship shall be awarded for one (1) academic year and renewed annually if the student:

   1. (A) Maintains not less than a 3.0 grade point average on a 4.0 scale; and
   2. (B) Meets other criteria as established by the division.
2. (2) No student may utilize these funds for educational purposes beyond completion of the approved technical program in which he or she enrolls.
3. (3) The scholarships will be terminated if the students do not complete the approved technical program in which they enroll within four (4) years from initial entrance.