To be eligible to receive the annual scholarship disbursement, college bound scholarship students who have met the requirements outlined in WAC 250-84-030, must:

(1) Graduate from a Washington high school with at least a C average or receive home-based instruction under chapter 28A.200 RCW.

(2) File a FAFSA (see priority consideration under WAC 250-84-070(1)).

(3) Be accepted to an institution participating in the state need grant program within the state of Washington (requirements outlined in WAC 250-20-013).

(4) Enroll no later than the fall term (as defined by the institution) one academic year following high school graduation.

For example, students graduating by August 2012 have until fall 2013 to begin using the scholarship.

(a) Students who graduate early will be assumed to follow the time frame of their senior year cohort. However, if they enroll early, the four-year scholarship will need to be used within five years of their initial enrollment date.

(b) Scholarships will not be disbursed prior to fall 2012.

(c) Students will be considered to have enrolled upon earning credit(s) for the term or receiving the first scholarship disbursement, whichever comes first.

(5) Have an annual family income at or below sixty-five percent of the state's median family income as determined by the income reported on the FAFSA and verified by the institution the student is attending. See subsection (6)(d) of this section.

(6) Receive the college bound scholarship for no more than four academic years within a five-year period.

(a) The four-year scholarship may be used during any terms within the five-year period, even if enrollment is not continuous.

(b) The scholarship must be used within five academic years of August of the high school graduation year.

For example, students who graduate from high school in 2011-12 must begin college enrollment by fall 2013, and have through spring of 2017 to receive the scholarship.

(c) The total college bound award is limited to twelve quarters, eight semesters or equivalent, prorated for part-time enrollment within the five-year period.

(d) If students do not meet the income requirement in subsection (5) of this section in any year within the five-year period, they may still receive the scholarship for any year(s) they do meet the income requirement. Receipt of the four-year scholarship does not have to be continuous.

(7) Comply with the other eligibility criteria to receive the college bound scholarship as outlined for the state need grant program in WAC 250-20-011 including, but not limited to, requirements related to residency, undergraduate student status, academic program eligibility including the theology prohibition, enrollment level, satisfactory academic progress, and repayments.

The requirements for state need grant that do not apply to college bound scholarships are the equivalent of five-year limitation for state need grant under WAC 250-20-011(6) since the college bound scholarship is a four-year award.