(a) In each academic year, to the extent that appropriations are available for the Kansas education opportunity scholarship program and in accordance with the provisions of this act, the state board of regents may select for designation as a Kansas education opportunity scholar and for the award of a Kansas education opportunity scholarship any person who is qualified for such designation and award. The state board of regents shall renew the scholarship of each Kansas education opportunity scholar who remains qualified for a scholarship. (b) In selecting persons for designation as Kansas education opportunity scholars, the state board of regents shall provide, insofar as possible and on the basis of a formulated procedure, for equitable apportionment of Kansas education opportunity scholarships. The procedure formulated by the board of regents shall take into account the differences among applicants in level of financial need and availability of financial resources so that scholarships are targeted to those applicants having the greatest needs. Financial need shall be determined annually. (c) An applicant who fails to be awarded a Kansas education opportunity scholarship shall not be disqualified from applying therefor in a later academic year so long as all requirements for eligibility to apply for such award are met. (d) The award or renewal of a Kansas education opportunity scholarship shall be on an annual basis and shall be effective for one academic year unless otherwise terminated.
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