There is hereby created the Delaware Student Excellence Equals Degree, hereafter referred to as “SEED”, program. Under this subchapter, qualified, college-bound state resident students are relieved of the burden of paying undergraduate tuition at Delaware Technical and Community College, or the University of Delaware, Associate in Arts Program provided that these students meet the criteria set forth in this subchapter and are enrolled in a credit or noncredit program leading to the award of a recognized academic credential or pursuing studies leading to an associate degree at Delaware Technical and Community College. Students who qualify under this subchapter shall not have to repay the State because it is the intent and purpose of the General Assembly, through this subchapter, to help ensure that Delaware students stay in high school, excel academically, and have better access to higher education regardless of a family's financial circumstances and therefore payments under this program shall be grants, not loans.