Money in the National Guard tuition supplement program fund shall be used to provide annual scholarships to scholarship applicants under this chapter. Annual scholarships shall be awarded in the following amounts:

1. (1) A scholarship applicant who attends a state educational institution shall receive a scholarship under this chapter in an amount that is equal to one (1) of the following:

   1. (A) If the scholarship applicant does not receive other financial assistance specifically designated for educational costs, the amount equal to a full undergraduate tuition scholarship, regardless as to whether the student uses the scholarship for undergraduate or graduate educational costs, to attend the state educational institution.

   2. (B) If the scholarship applicant receives other financial assistance specifically designated for educational costs, the amount:

      1. (i) equal to the balance required to attend the state educational institution; and
      2. (ii) not to exceed the amount described in clause (A).

2. (2) A scholarship applicant who attends an approved postsecondary educational institution listed in IC 21-7-13-6 (a)(1)(C)(i) through IC 21-7-13-6 (a)(1)(C)(xxx) shall receive a scholarship under this chapter in an amount equal to the lesser of the following:

   1. (A) If the scholarship applicant receives other financial assistance specifically designated for educational costs, the amount equal to the balance required to attend the approved postsecondary educational institution.

   2. (B) Five thousand dollars ($5,000).

      [Pre-2007 Higher Education Recodification Citation: 20-12-74-7(a).]

As added by P.L.2-2007, SEC.254. Amended by P.L.63-2021, SEC.5; P.L.240-2023, SEC.5.