The authority may award a scholarship under this act to an individual determined by the authority to meet all of the following eligibility criteria:

  (a) Is a United States citizen or permanent resident of the United States.

  (b) Has resided continuously in this state for the 12 months immediately preceding the date of his or her application and is not a resident of any other state.

  (c) Is enrolled or has been accepted into a nursing program.

  (d) Has signed a written scholarship agreement with the authority stating the individual’s intention to pursue nursing as a career and to serve in eligible employment in this state for not less than 1 of the following periods:

  (i) One year if the individual received scholarship assistance under this act in 1 academic year of full-time enrollment in a nursing program.

  (ii) Two years if the individual received scholarship assistance under this act in 2 academic years of full-time enrollment in a nursing program.

  (iii) Three years if the individual received scholarship assistance under this act in 3 academic years of full-time enrollment in a nursing program.

  (iv) Four years if the individual received scholarship assistance under this act in 4 academic years of full-time enrollment in a nursing program.

  (e) Is in compliance with this act and the rules promulgated under this act.

  (f) Has not been convicted of a felony involving an assault, physical injury, or death.

  (g) Meets any other standards established in rules promulgated by the authority under section 3.