The award of free room and board shall be made from any funds available to the University of Alaska. Each Native who receives a scholarship under Alaska Stat. § 14.43.050 – 14.43.075 is entitled to retain the scholarship and to receive free room and board during attendance at the University of Alaska as long as the student maintains a grade average equivalent to a “C” or better. However, no Native is entitled to the scholarship for more than four years, or for more than the number of years necessary to receive a bachelor’s degree.