To be eligible for the State Teacher Education Program, an applicant shall:
(1) Teach full-time at a public school district in a subject area or geographic area with a teacher shortage, as identified by the Division of Higher Education in consultation with the Division of Elementary and Secondary Education;
(2) Hold a valid Arkansas teacher's license; and
(3) Meet additional continuing eligibility criteria established by the Division of Higher Education.
(4) An individual who has earned a teaching license upon the successful completion of an alternative educator preparation program is an eligible student under this section.