a) For a student to be eligible to participate in the DFI grant program, the student shall establish and the applicable institution shall verify that the student applicant meets the following criteria:

1. 1) he or she is an Illinois resident as defined in the Act;
2. 2) he or she is a citizen or lawful permanent resident alien of the United States;
3. 3) he or she is a member of a racial minority as defined in the Act;
4. 4) he or she has earned a baccalaureate degree from an accredited institution of higher education;
5. 5) he or she has been admitted as a student pursuing a doctoral, master's, or post-baccalaureate professional degree and will pursue this degree objective as a full-time student, as defined by the institution, for at least 9 months of the year;
6. 6) he or she has signed an agreement to meet the Act's employment conditions if a DFI award is accepted;
7. 7) his or her financial resources are such that in the absence of a DFI grant the individual will be prevented from pursuing a graduate or professional degree at the institution; and

8. 8) he or she has above-average academic ability to pursue a graduate or professional degree (Section 7 of the Act), as evidenced by the following:

   1. A) minimum grade point average of C+ (2.75 on a grade scale of 4.00 = A) in the last 60 hours of undergraduate work; and
   2. B) admission to a post-baccalaureate degree program at a qualified institution of higher education as defined in the Act.