(a) The purpose of this section is to ensure that faculty advisors at universities provide students with course selection advice that will enable a full-time student to obtain most bachelor's degrees within eight (8) semesters.

(b) Any person assigned by a university to provide course selection advice to incoming freshman students shall provide any student who has declared a major with a written, eight-semester course of study signed by either the institution's chief operating officer, president, or dean that provides a recommended sequence for all course requirements for completion of most bachelor's degrees within eight (8) semesters.

(c) (1) (A) Any student who chooses a bachelor's degree designed to be completed within eight (8) semesters may commit to completion of the degree requirements within eight (8) semesters by signing and returning a copy of the written, eight-semester course of study to the university's advising center or the student's assigned academic advisor.

(B) If a student does not choose to commit to completion of the degree requirements within eight (8) semesters, the institution shall obtain a signed, written waiver from the student that clearly outlines the student's rights under this section and verifies that the student chooses not to enter into the commitment. If no waiver is obtained, the institution will be deemed to have guaranteed a bachelor's degree as provided by this section.

(2) A student shall be guaranteed a bachelor's degree at the end of the eight (8) semesters if the student:

(A) Commits to completion of his or her bachelor's degree requirements within eight (8) semesters as set forth under subdivision (c)(1) of this section;

(B) Makes satisfactory academic progress;

(C) Fulfills all of the course requirements set forth in the signed, written, eight-semester course of study in the recommended sequence; and

(D) Does not change his or her declared major.

(d)

(1) Each university shall publish a recommended course sequence and recommended schedule by semester for each degree offered by the university.

(2) The recommended course sequence schedule shall be included in the university's course catalog and departmental publications and on the university's website.

(3) Each university shall offer and make available courses in a time, sequence, and manner that will enable students to complete requirements for a degree within the time frame set out in the recommended course sequence schedule.

(e) Only universities that implement procedures in compliance with this section shall be approved by the Arkansas Higher Education Coordinating Board to receive funding from the Arkansas Academic Challenge Scholarship Program or the Arkansas Governor's Scholars Program.