(a) It is the intent and purpose of the General Assembly through this section to do the following: (1) Provide financial aid to Delaware residents with demonstrated financial need so that within the limits of the fiscal capabilities of the State they are not denied an opportunity for a college education because of financial need. (2) Encourage qualified Delaware students to pursue courses of undergraduate, graduate, and professional education when such courses are unavailable in state-supported institutions. (b) The Office is hereby authorized to award scholarships from the Scholarship Incentive Program (ScIP) subject to the limits of its appropriations and the following limitations: (1) Scholarships shall be awarded only to persons who will enroll as full-time students in degree programs. (2) No student may receive more than 5 annual scholarships for either undergraduate or graduate study. (3) Scholarships may be used only at educational institutions that are accredited by an accrediting agency recognized by the U.S. Secretary of Education for either of the following: a. For undergraduate study, inside of the State. b. For undergraduate or graduate study outside of the State in degree programs that are not offered by a publicly-assisted institution in Delaware. (4) Scholarships shall be awarded on the basis of financial need. Financial need shall be determined by a federally-approved need analysis system. The financial need calculation shall consider the student's expected family contribution, the expense of attending the institution selected, and the student's eligibility for Pell grants and other federal, state or private grant assistance. (5) Students must reapply for the scholarships annually, maintain satisfactory academic progress at their educational institution, and continue to meet all qualifications of the Program.
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