13-55A-16. Endowment fund scholarship--Students considered.

The board may consider a student for a South Dakota Freedom Scholarship, pursuant to § 13-55A-15, if the student:

(1)    Is a state resident for at least one year prior to application for the scholarship;

(2)    Attends an eligible institution;

(3)    Establishes financial need, as determined by the eligible institution and the board described in § 13-55A-15;

(4)    Commits, in writing, to live and work in this state for a period of three years after graduation, or following military service or graduate education, if applicable;

(5)    Maintains a 2.5 GPA or higher while enrolled at an eligible institution;

(6)    Graduates from an eligible institution within five years; and

(7)    Agrees, through a promissory note or other agreement, that failure to comply with the provisions of this section shall result in the scholarship being converted to an interest-bearing loan.

Notwithstanding the provisions of this section, the board may temporarily or permanently waive the requirements of this section if factors, as the board may determine, prevent a student from satisfying the requirements in this section.

Source: SL 2021, ch 83, § 7, eff. Mar. 18, 2021.