Sec. 7. To qualify for a scholarship renewal from the fund, a student that qualified for the initial scholarship under section 4 of this chapter must:
(1) comply with the criteria in section 4 of this chapter; and
(2) maintain at least the cumulative grade point average:
(A) that is required by an eligible institution for admission to the eligible institution's school of education; or
(B) of 2.0 on a 4.0 grading scale or its equivalent as established by the eligible institution if the eligible institution's school of education does not require a certain minimum cumulative grade point average.