Sec. 10. (a) An applicant who attends an approved postsecondary educational institution qualifies for an annual award under this chapter if the applicant:

(1) 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);

(2) meets the qualification requirements under section 1 of this chapter;

(3) graduated from high school after January 1, 2023; and

(4) has not received an award toward one hundred twenty-four (124) semester credit hours or its equivalent as determined by the commission.

     (b) An award under this section must be in an amount equal to the lesser of the following:

(1) 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) Five thousand dollars ($5,000).

As added by P.L.240-2023, SEC.11.