(a)(1) An eligible postsecondary institution shall provide to each academy attendee who is enrolled in its Arkansas Teacher Academy an annual scholarship up to the actual cost of the:
(A)Eligible postsecondary institution's tuition and fees for a maximum of:
(i)Two (2) academic years or four (4) academic semesters for an academy attendee who is a graduate student enrolled in the Arkansas Teacher Academy at the eligible postsecondary institution;
(ii)Four (4) academic years or eight (8) academic semesters for an undergraduate student enrolled in the Arkansas Teacher Academy at the eligible postsecondary institution; and (iii) (a) Two (2) academic years or four (4) academic semesters for a community college student enrolled in the Arkansas Teacher Academy at the eligible postsecondary in
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(a) (1) An eligible postsecondary institution shall provide to each academy attendee who is enrolled in its Arkansas Teacher Academy an annual scholarship up to the actual cost of the: (A) Eligible postsecondary institution's tuition and fees for a maximum of: (i) Two (2) academic years or four (4) academic semesters for an academy attendee who is a graduate student enrolled in the Arkansas Teacher Academy at the eligible postsecondary institution; (ii) Four (4) academic years or eight (8) academic semesters for an undergraduate student enrolled in the Arkansas Teacher Academy at the eligible postsecondary institution; and (iii) (a) Two (2) academic years or four (4) academic semesters for a community college student enrolled in the Arkansas Teacher Academy at the eligible postsecondary institution. (b) A student who qualifies under subdivision (a)(1)(A)(iii) (a) of this section shall receive continued eligibility for two (2) additional academic years or four (4) additional academic semesters at a postsecondary institution that is an undergraduate institution; and (B) Obtainment of a teaching license issued by the State Board of Education, including without limitation the actual cost of one (1) exam required for obtaining a teaching license issued by the state board. (2) A scholarship distributed to an academy attendee under subdivision (a)(1) of this section shall be distributed only after all other financial gifts, financial aid, and grants have been received by an academy attendee enrolled in an Arkansas Teacher Academy at an eligible postsecondary institution. (b) Each academy attendee who is enrolled in an Arkansas Teacher Academy shall: (1) (A) Agree to teach at least one (1) full school year in a public school or in a school that serves primarily public school students with disabilities in the State of Arkansas for each academic year the academy attendee successfully completes and for which the academy attendee receives a scholarship for all or part of his or her tuition and fees. (B) For an academy attendee who teaches and receives the scholarship concurrently, the academy attendee's commitment period to teach in a public school in the State of Arkansas as required under subdivision (b)(1)(A) of this section shall begin after the academy attendee's graduation from an Arkansas Teacher Academy; (2) Reimburse the Division of Higher Education for the: (A) Total amount of scholarship funds the academy attendee received for tuition and fees for an academic year in which the academy attendee does not successfully complete the academic year in good academic standing; and (B) Proportional amount of the scholarship the academy attendee received for tuition and fees that corresponds to the number of school years the academy attendee agreed to teach in a public school in the State of Arkansas but did not teach in a public school in the State of Arkansas as required under subdivision (b)(1)(A) of this section; and (3) Not include time that the academy attendee is enrolled in a summer term in the calculation of the academy attendee's commitment period to teach in a public school in the State of Arkansas as required under subdivision (b)(1)(A) of this section.