1.  Each university or college that offers an approved traditional pathway licensure program in this State that is awarded a grant of money pursuant to NRS 391A.705 shall use the money to award tuition assistance and stipends pursuant to the Incentivizing Pathways to Teaching Grant Program to students who will attend the university or college with the intent to complete an approved traditional pathway licensure program. Such students may include:

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(a) Students who are enrolled in their final three semesters of an approved traditional pathway licensure program; and

(b) Students who are enrolled in their final clinical field experience of student teaching in an approved traditional pathway licensure program.

2.  A student who is enrolled in his or her final three semesters of an approved traditional pathway licensure program may apply for tuition assistance.

3.  A student who is enrolled in his or her final clinical field experience of student teaching in an approved traditional pathway licensure program may apply for a stipend.

4.  The student must:

(a) Agree to:

(1) Complete the approved traditional pathway licensure program for which he or she was awarded the tuition assistance or stipend; and

(2) Maintain employment as a teacher at a public school in this State for 5 consecutive school years immediately following completion of the program unless the State Board waives this requirement for good cause shown.

(b) Meet any other requirements established by the State Board.