1. An individual eligible for a student financial assistance grant under this chapter may be considered for a supplemental state grant award if the individual's total family income,

as identified on the free application for federal student aid, is no more than eighty thousand dollars.

2. A supplemental state grant award may not be provided for the summer term.

3. Each semester or quarter, the state board of higher education shall provide to an eligible student a supplemental state grant award in an amount that, combined with the individual's student financial assistance grant and any federal Pell grant award, does not exceed the tuition charged at the institution in which the student is enrolled. The amount may not exceed the highest undergraduate semester tuition charged at an institution of higher education under the control of the state board of higher education.

4. If funding appropriated for this program is not sufficient to pay the full amount of the grant award under subsection 3, the state board of higher education may prorate the amount.

5. The state board of higher education may impose deadlines to qualify for an award under this section.