Changes the following requirements from the duty of the office of student financial assistance to the duty of the omnibus appropriations act: Specifying grant award criteria and methods of disbursement based on level of need and other factors that promote degree completion and enrollment in high-demand degrees.

Prohibits the institutions of higher education, when awarding grants, from implementing a first-come, first-served policy unless specifically directed by the omnibus appropriations act.

Changes the grade point requirements with regard to the qualifications for the renewal of a state need grant.