select secondary school students who have the greatest potential for academic success
in higher education and offer a scholarship to each student to be used at a Maryland
higher education institution of their choice, if the recipient meets the following
qualifications:

(1) Qualifies academically as follows:

(i) Has a secondary school transcript indicating an overall
academic grade point average of at least 3.0 on a 4.0 scale or its equivalent grade
point average in core curriculum courses after completion of the first semester of the
senior year; AND

(ii) Intends to enroll as a full-time student in an academic program
as designated by the Maryland Higher Education Commission; [and

(iii) Has graduated from a secondary school in Maryland;]

(2) Is a Maryland resident AND WAS A MARYLAND RESIDENT AT THE
TIME OF GRADUATING FROM SECONDARY SCHOOL;

(3) Is accepted for admission in a regular undergraduate program at a
Maryland higher education institution in the State;

(4) Begins attending an eligible Maryland higher education institution
within 2 years of completing high school or, failing to do so, provides evidence
satisfactory to the State Scholarship Administration of extenuating circumstances;

(5) Agrees to the conditions provided in subsection (c) of this section; and

(6) Accepts any other conditions attached to the award and satisfies any
additional criteria the Commission may establish.

(b) (1) The annual scholarship award shall be in the amount of $1,000 for a
student enrolled at a 2-year eligible institution or $3,000 for a student enrolled at a
4-year eligible institution.

(2) If accepted by the eligible student, each award may be renewed on an
annual basis for a maximum of 3 years after the original award if the recipient:

(i) Remains a resident of the State;

(ii) Attends a Maryland higher education institution in the State;

(iii) Is enrolled as a full-time undergraduate student and takes at
least 12 semester hours of courses each semester or its equivalent as determined by
the Administration;

(iv) Maintains a 3.0 grade point average on an academic year basis
or, failing to do so, provides evidence satisfactory to the Administration, of extreme
extenuating circumstances;

(v) Is making satisfactory progress toward a degree as determined
by the institution; and