Sec. 4. If an eligible applicant: (1) is permitted to matriculate in the state educational institution; (2) qualifies under this chapter; and (3) has earned or has been awarded a cash scholarship that is paid or payable to a state educational institution, from any source; the amount paid shall be applied to the credit of the eligible applicant in the payment of incidental expenses of the eligible applicant's attendance at the state educational institution. The balance, if the terms of the scholarship permit, must be returned to the eligible applicant. [Pre-2007 Higher Education Recodification Citation: 20-12-19-1(d).]
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