(a)        Eligibility. – To be eligible for a scholarship under this Article, a student must meet all of the following conditions:

(1)        Qualify as a resident for tuition purposes under the criteria set forth in N.C. Gen. Stat. § 116-143.1 and in accordance with the coordinated and centralized residency determination process administered by the State Education Assistance Authority.

(2)        Meet enrollment standards by being admitted, enrolled, and classified as a full-time student in the Integrative Community Studies CTP Program at the constituent institution.

(3)        Submit a Free Application for Federal Student Aid (FAFSA) and demonstrate need according to the federal methodology in Title IV of the Higher Education Act of 1965, as amended, 20 U.S.C. § 1070, et seq.

(b)        Award of Scholarships; Reduction to Award. – Subject to the availability of funds in the Comprehensive Transition Postsecondary (CTP) Scholarship Fund established under N.C. Gen. Stat. § 116-316, scholarships shall be awarded to eligible students in an amount to cover the cost of attendance in the CTP program at the constituent institution. If a student who is eligible for a scholarship under this section also receives a scholarship or other grant covering the cost of attendance, then the amount of the scholarship shall be reduced by an appropriate amount determined by the constituent institution so that the total amount of scholarships and grants received by the student does not exceed the cost of attendance. The cost of attendance shall be determined by the constituent institution. In the event there are not sufficient funds available for scholarships for each eligible student to cover the cost of attendance, the constituent institution may adjust the distribution of the amount of scholarships as necessary in an academic year. ?(2021-180, s. 8.16(a).)