To be eligible for a Tennessee HOPE scholarship as an entering freshman, a student who graduated from an eligible high school after December 1, 2003, upon having completed curriculum requirements of the high school for graduation, shall:

(1) Meet the requirements of §§ 49-4-904 and 49-4-905;
(2) Be admitted to and enroll in an eligible postsecondary institution no later than sixteen (16) months after graduation from high school; and
(3)

(A) Achieve a final overall high school grade point average of at least 3.0; or
(B) Attain a composite ACT score of at least 21 on any single ACT test date or a concordant equivalent score on the SAT on any single SAT test date.