(a) The intent of this section is to provide academic support to offset the costs associated with the preparation for college and college readiness assessments to reduce college remediation requirements and increase the number of college graduates in this state.
(b) There is established the Academic Support Scholarship to be administered by the Division of Higher Education, which shall cover the following costs without limitations:
(1) Tutoring;
(2) Assessment fees;
(3) Educational materials; and
(4) Technology fees.
(c) To apply for a scholarship under this section, a student shall:
(1) Complete an application created and reviewed by the division;
(2) Be in good standing with his or her school district;
(3) Be in the process of applying to a postsecondary institution of higher education;
(4) Have graduated high school with a minimum grade point average of 2.0 on a 4.0 scale; and
(5) Be eighteen (18) years of age or younger.
(d) A recipient of a scholarship under this section who meets the requirements under subsection (c) of this section is eligible for a scholarship award of two hundred fifty dollars ($250) for the academic year in which the recipient is enrolled in a postsecondary institution of higher education.
(e) A scholarship under this section shall be funded with any funds remaining after the Division of Higher Education allocates sufficient funding to award Arkansas Academic Challenge Scholarships under § 6-85-201 et seq., Arkansas Workforce Challenge Scholarships under § 6-85-301 et seq., and Arkansas Concurrent Challenge Scholarships under § 6-85-401 et seq.