Sec. 5. (a) The commission, in coordination with the Marian University College of Osteopathic Medicine, shall select from among the qualified students who will receive a scholarship under this chapter. The commission may not create or use a waiting list for scholarships under this chapter. (b) The amount of the scholarship that may be awarded to a qualified student for a particular school year shall be determined by the commission, in coordination with the Marian University College of Osteopathic Medicine, and may not exceed the following: (1) If the scholarship is awarded in the first class year, a maximum of fifteen thousand dollars ($15,000) per year for four (4) class years. (2) If the scholarship is awarded in the second class year: (A) a maximum of seven thousand five hundred dollars ($7,500) for the first class year; and (B) a maximum of ten thousand dollars ($10,000) per year for the second through fourth class years. (3) If the scholarship is awarded in the third class year: (A) a maximum of five thousand dollars ($5,000) for the first class year; (B) a maximum of seven thousand five hundred dollars ($7,500) for the second class year; and (C) a maximum of ten thousand dollars ($10,000) per year for the third and fourth class years. (4) If the scholarship is awarded in the fourth class year: (A) a maximum of two thousand five hundred dollars ($2,500) for the first class year; (B) a maximum of five thousand dollars ($5,000) for the second class year; (C) a maximum of seven thousand five hundred dollars ($7,500) for the third class year; and (D) a maximum of ten thousand dollars ($10,000) for the fourth class year. (c) A qualified student may not qualify for a scholarship for more than four (4) school years.
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