(1) As a result of the rising school population and the continuously rising cost of providing for the higher education of young people, there exists in the Commonwealth of Kentucky an urgent need to use all available educational resources wisely; (2) Within th e Commonwealth, there exist accredited independent colleges and universities whose facilities are available for use in the public interest by providing additional space for students; (3) In the Commonwealth there are qualified residents who are willing to bear the major costs of their education by attending an independent college or university; (4) It intends to offer to qualified Kentucky residents who bear the major cost of attending accredited independent colleges and universities within the Commonwealth a tuition or fees grant as supplementary aid to students where need exists.
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