The general assembly finds and declares that:
(1) It is an essential function of government to foster and encourage schools and the means of education, as provided in the Constitution of Tennessee, Article XI, § 12;
(2) It is a responsibility of state government to maintain institutions of higher education;
(3) It is an essential function of state government to encourage attendance at institutions of higher education;
(4) Tuition costs at institutions of higher education are difficult for many to afford and it is difficult for individuals and families to plan for the costs of higher education;
(5) It is in the best interest of the people of this state to foster higher education in order to provide well-educated citizens;
(6) Students in elementary and secondary schools tend to achieve to a higher standard of performance when the payment of tuition for their higher education is secured; and
(7) Providing assistance in the higher education of the citizens of this state is necessary and desirable for the public health, safety and welfare.