A placebound student is eligible for an educational opportunity grant if the additional financial resource would alleviate the placebound condition by allowing the student access to education at an eligible institution. For a student to be eligible for an educational opportunity grant he or she must:

(1) Be a "financially needy student" as determined by the higher education coordinating board in accordance with RCW 28B.10.802(3);

(2) Be a resident of the state of Washington;

(3) Be enrolled or accepted for enrollment at least half time, with priority to full-time enrollment, as an upper-division undergraduate student at an eligible baccalaureate institution in the state of Washington;

(4) Be a placebound resident;

(5) Have completed an associate of arts or associate of science degree or the equivalent;

(6) Not be required by the institution to be involved in a program that includes any religious worship, exercise or instruction;

(7) Make satisfactory academic progress as determined by the institution; and

(8) An otherwise eligible student may not apply for this grant to continue enrollment at an institution where he or she is presently attending.