(b) Appropriations for the state scholars program shall be deposited into the University of Hawaii scholarship and assistance special fund established pursuant to section 304A-2159. The number of scholarships awarded and amount of each scholarship shall be determined by the university subject to the availability of funds. The University of Hawaii shall offer scholarships to pay for educational costs, such as tuition, fees, books, housing, and other educational costs; provided that the scholarship applicant:
(1) Is a bona fide resident of the State, for tuition purposes, at the time of admission to the university;(2) Presents evidence of academic excellence by meeting one or more of the following: (A) Graduation from a public or private high school in the State as a valedictorian of the applicant's class;(B) Has a cumulative high school grade point average of 4.0 as determined for admission to the university;(C) Has achieved a test score on a standardized college admission test recognized and accepted by the university for admission consideration, such as SAT or ACT, that places the student among the top ten percentile of students taking the test nationwide; or(D) Earned a high school diploma from a public high school in the State with a cumulative grade point average of 3.0 as determined for admission to the university, if the student provides evidence that the student qualified for and received special education services for two or more years during enrollment in grades seven through twelve;(3) Enrolls at a University of Hawaii system campus within eighteen months of graduating from high school; and(4) Maintains satisfactory progress toward degree completion and a cumulative 3.0 grade point average.