(1) The foster care endowed scholarship program is created. The purpose of the program is to help students who were in foster care attend an institution of higher education in the state of Washington. The foster care endowed scholarship program shall be administered by the office.
(2) In administering the program, the office's powers and duties shall include but not be limited to:
(a) Adopting necessary rules and guidelines; and
(b) Administering the foster care endowed scholarship trust fund and the foster care scholarship endowment fund.
(3) In administering the program, the office's powers and duties may include but not be limited to:
(a) Working with the department of social and health services and the superintendent of public instruction to provide information about the foster care endowed scholarship program to children in foster care in the state of Washington and to students over the age of sixteen who could be eligible for this program;
(b) Publicizing the program; and
(c) Contracting with a private agency to perform outreach to the potentially eligible students.