Any blind person who is, and for five years immediately preceding the making of an application for aid under this chapter has been, a resident of this state, who is a regularly enrolled student pursuing any course of study, profession, art, or science in any university, college, or conservatory of music approved by the board of directors of the Minnesota State Academy for the Blind, in the discretion and under direction of the board, may receive a sum or sums of money, not exceeding $300 in any one year, for the purpose of defraying necessary expenses, including those of a reader, while in attendance upon such university, college, or conservatory, such expenditures to be made from the appropriations for the current expenses of the Minnesota State Academy for the Blind. Not more than ten such blind persons shall receive such aid in any one year.