(1) The college bound scholarship is intended to combine with the state need grant program to ensure eligible students have the opportunity to receive sufficient state financial aid to meet the cost of full tuition, plus five hundred dollars for books each year. The award is intended to replace unmet need, loans, and at the student's discretion, work-study.

(2) The value of each college bound scholarship shall be determined by the board annually based on the amount of tuition and fees at public colleges and universities (as used for state need grant purposes) plus five hundred dollars, less the amount of state need grant the student qualifies for based on the student's MFI, and less any other state aid awarded.

(a) In order to receive the maximum state need grant for which the student qualifies, the student must meet the financial aid priority consideration deadline for the institution the student plans to attend.

(b) College bound scholarship awards will be prorated for part-time attendance as outlined in WAC 250-20-041 (4)(b).

Sector college bound scholarship award amounts (such as public research, regional and two-year, and private career and private four-year) shall follow base award amounts determined for the state need grant program.