(a) To be eligible for a conditional grant under this subchapter, a student must:
(1) complete and file with the department, on forms prescribed by the department, a conditional grant application and a declaration of intent to become a member of an eligible profession and work for the department for the two academic years immediately following the date of the student's receipt of an eligible degree;
(2) enroll in an institution;
(3) be a Texas resident, as defined by Texas Higher Education Coordinating Board rule;
(4) be economically disadvantaged, as defined by department rule; and
(5) have complied with any other requirements adopted by the department under this subchapter.
(b) In determining who should receive a grant under this program, the department:
(1) shall give highest priority to students who demonstrate the greatest financial need; and
(2) may consider whether the applicant would be the first generation of the applicant's family to attend or graduate from an undergraduate program or from a graduate or professional program.