(a)

1. (1) An Arkansas postsecondary education institution may not disburse a partially or fully state-funded loan, grant, scholarship, or other financial assistance for educational expenses to a male student under twenty-six (26) years of age unless the student has filed a statement of selective service status with the institution certifying that he is in compliance with the Military Selective Service Act, 50 U.S.C. § 3801 et seq.
2. (2) The term “disburse” includes crediting state-funded financial assistance funds to a student’s account.

(b)

1. (1) Financial assistance programs governed by this requirement include all loans, grants, scholarships, fee waivers, and other financial aid programs funded fully or partially by:

   1. (A) The State of Arkansas;
   2. (B) A state agency; or
   3. (C) A state-supported institution of higher education.

2. (2) Scholarship programs covered include:

   1. (A) Academic scholarships;
   2. (B) Athletic scholarships; and
   3. (C) Performance scholarships such as:

(i) Band;

1. (ii) Music; or

   1. (iii) Cheerleading.

      1. (c)
2. (1) The student is required to file a statement of selective service status once for each award year.

3. (2) However, an institution may waive the requirement for a student to file once each award year if the:

   1. (A) Institution already has on file a statement of selective service status for that student; and

   2. (B) Student’s status under registration law has not changed since the institution received the most recently filed statement of selective service.

      1. (d) If the information on the statement of selective service status is inconsistent with other information that is in the possession of the institution, the discrepancy must be resolved before funds are disbursed.