(a) Eligibility Criteria.

1. (1) Applicants must be bona fide Arkansas residents, as defined by the Division of Higher Education, for at least twelve (12) months prior to the application deadline.
2. (2) Applicants must be a citizen of the United States or a lawful permanent resident.

3. (3) Applicant must have:

   1. (A) Graduated from a teacher education program after April 2004; or
   2. (B) Earned a teaching license upon completion of an alternative educator preparation program.
4. (4) Applicant must have outstanding federal student loans.
5. (5) Applicant must hold a valid Arkansas teacher’s license.

6. (6) Applicants must teach full-time at a public school district in Arkansas during the award year and meet one (1) of the additional criteria:

   1. (A) Teach in a subject area with a teacher shortage, as identified by the Division of Higher Education in consultation with the Division of Elementary and Secondary Education; or
   2. (B) Teach in a geographic area with a teacher shortage, as identified by the Division of Higher Education in consultation with the Division of Elementary and Secondary Education.

(b) Continued eligibility.

1. (1) Recipients shall:

   1. (A) Reapply for the State Teacher Education Program annually; and
   2. (B) Continue to meet the eligibility criteria set forth above.
2. (2) A recipient may receive an annual award for a maximum of three (3) years.