(a) A scholarship program or loan repayment program established under this subchapter shall be established and administered in a manner that the board determines best promotes the health care and educational needs of this state.
(b) The board may establish multiple categories of persons to receive scholarships and loan repayments. The board may include faculty from professional nursing programs with master’s degrees or doctorates among the categories of persons authorized to receive loan repayments.

(c) Each year funds are available, the board shall establish the categories of persons eligible to receive scholarships and loan repayments and the criteria for selecting persons to be assisted under each category. The criteria:
(1) must include that the person be enrolled in, or have outstanding student loans for education received at, as applicable to the program:
(A) an institution of higher education;
(B) a private or independent institution of higher education; or
(C) a nonprofit college or university described by § 61.651(1)(C); and
(2) may include:
(A) scholastic ability and performance;
(B) financial need;
(C) the geographical area in which the person is likely to practice;
(D) whether the person receives Temporary Assistance for Needy Families or participates in another public welfare program;
(E) employment by a state agency;
(F) employment on a nursing school faculty or a person’s intention to seek employment on a nursing school faculty;
(G) whether the person is practicing in a geographical area, a practice setting, or an area of practice with an acute nursing shortage or is likely to practice in such an area;
(H) the type of certificate or academic degree held or pursued; or
(I) any additional factors the board considers relevant to promoting the health care and educational needs of the state.