(a)

1. (1) Duration of scholarships. The Arkansas High Technology Scholarship shall be awarded for one (1) academic year and renewed annually for up to three (3) additional academic years if the student maintains not less than a 3.0 grade point average on a 4.0 scale.
2. (2) Note. All funding for scholarships is contingent upon appropriations and funding by the General Assembly.

(b) Payment of scholarships.

1. (1) Warrants payable to scholarship recipients will be sent to the approved institutions of their choice.
2. (2) After verification as to eligibility, the institution will disburse the scholarship to the student according to the individual institution’s disbursement procedures.

3. (3)

   1. (A) The scholarship will correspond to academic terms, semesters, quarters, or equivalent time periods at the eligible institutions.
   2. (B) In no instance may the entire amount of the grant for an educational year be paid to or on behalf of such students in advance.

(d) Change in status.

1. (1) It is the responsibility of the scholarship recipient to promptly give written notification to the Arkansas High Technology Scholarship Program in care of the division if there is any change in status.

2. (2) Such responsibility involves notification of:

   1. (A) Withdrawal from school;
   2. (B) Change of residence;
   3. (C) Change in institution;
   4. (D) Name change; or
   5. (E) Any other change that would bear upon continued award eligibility.

(e) Renewal of scholarship.

1. (1) The scholarship may be renewed annually provided the recipient:

   1. (A) Maintains satisfactory academic progress in an approved high technology program; and
   2. (B) Meets other criteria as established by the division.
2. (2) Students may not utilize these funds for educational purposes beyond completion of the approved high technology program in which they enroll.
3. (3) The scholarship will be terminated if the student does not complete the high technology program within four (4) years from initial entrance.
4. (4) Scholarships are contingent upon appropriation and funding by the General Assembly.

(f) Cancellation/revocation of the scholarship.

1. (1) Scholarship recipients may cancel their scholarships.
2. (2) Scholarship recipients who fail to meet all eligibility requirements or fail to give written notification of change of status before appropriate deadline dates will have their scholarships revoked.

(h) Disbursement.

1. (1) Warrants payable to individual scholarship recipients will be sent by mail to the approved institutions of their choice as indicated on their accepted award notices.
2. (2) After verifying the scholarship recipient’s eligibility, the designated disbursing officer at the institution will sign the disbursement voucher and return one (1) copy to the division.
3. (3) The institution must maintain records concerning disbursement of checks to individual scholarship recipients.