(A) To be eligible for a LIFE Scholarship, a student must be considered a resident of this State as provided in this chapter.

(B) A student attending such a public or independent institution of this State and who is seeking a LIFE Scholarship as a freshman meets the residency requirements of this chapter if he meets the requirements of § 59-149-50(A) in regard to high school or home school graduation requirements and is classified as a resident of South Carolina for in-state tuition purposes under Chapter 112 of this title at the time of enrollment at the institution.

(C) Students receiving a Palmetto Fellows Scholarship are not eligible for a LIFE Scholarship under this chapter.