To qualify for a 2+2 Transfer Scholarship, an applicant shall:
(1) Be a resident of the State;
(2) Be a student at a community college in the State;
(3) Maintain a cumulative 2.5 grade point average on a 4.0 scale while a student at a community college in the State;
(4) Have earned an associate’s degree from a community college in the State by the end of the semester in which the applicant plans to transfer;
(5) Be accepted for admission in a degree program at a public senior higher education institution or a private nonprofit institution of higher education in the State;
(6) Intend to enroll in a public senior higher education institution or a private nonprofit institution of higher education in the State in order to complete a bachelor’s degree program;
(7) On or after the fall semester of 2014, enroll as a full–time student in a public senior higher education institution or a private nonprofit institution of higher education in the State by the fall semester following completion of the associate’s degree;
(8) In the case of an individual who is required to register with the Selective Service System, have complied with the registration requirement;
(9) Have completed the federal Free Application for Federal Student Aid (FAFSA);
(10) Have demonstrated financial need, defined by the Commission; and
(11) Accept any other conditions or satisfy any additional criteria that the Commission or the Office may establish.