a) A qualified applicant shall be:

1. 1) a resident of Illinois;
2. 2) a United States citizen or eligible noncitizen;

3. 3) a recipient of at least a bachelor's degree;

   1. 4) enrolled or accepted for enrollment on at least a half-time basis in an approved program of professional or practical nursing education at the graduate level at an Illinois institution of higher learning; and
   2. 5) maintaining satisfactory academic progress as determined by the institution.