Sec. 5. (a) The commission, in coordination with the Marian University College of Osteopathic Medicine, shall select from among the qualified students who will receive a scholarship under this chapter. The commission may not create or use a waiting list for scholarships under this chapter.

     (b) The amount of the scholarship that may be awarded to a qualified student for a particular school year shall be determined by the commission, in coordination with the Marian University College of Osteopathic Medicine, and may not exceed the following:

(1) If the scholarship is awarded in the first class year, a maximum of fifteen thousand dollars ($15,000) per year for four (4) class years.

(2) If the scholarship is awarded in the second class year:

(A) a maximum of seven thousand five hundred dollars ($7,500) for the first class year; and

(B) a maximum of ten thousand dollars ($10,000) per year for the second through fourth class years.

(3) If the scholarship is awarded in the third class year:

(A) a maximum of five thousand dollars ($5,000) for the first class year;

(B) a maximum of seven thousand five hundred dollars ($7,500) for the second class year; and

(C) a maximum of ten thousand dollars ($10,000) per year for the third and fourth class years.

(4) If the scholarship is awarded in the fourth class year:

(A) a maximum of two thousand five hundred dollars ($2,500) for the first class year;

(B) a maximum of five thousand dollars ($5,000) for the second class year;

(C) a maximum of seven thousand five hundred dollars ($7,500) for the third class year; and

(D) a maximum of ten thousand dollars ($10,000) for the fourth class year.

     (c) A qualified student may not qualify for a scholarship for more than four (4) school years.

As added by P.L.205-2013, SEC.219. Amended by P.L.191-2017, SEC.8; P.L.217-2017, SEC.145; P.L.108-2019, SEC.236.