(a) To be eligible for a Tennessee HOPE scholarship as a transfer student from a regionally accredited postsecondary institution located outside of this state, a student shall:

(1) Not be ineligible for the scholarship under § 49-4-904;

(2) Meet the requirements of § 49-4-905;

(3) Be admitted to and enroll in a regionally accredited postsecondary institution located outside of this state;

(4) Maintain satisfactory progress in a course of study, in accordance with the standards and practices used for federal Title IV programs by the regionally accredited postsecondary institution in which the student is enrolled;

(5) Apply for a Tennessee HOPE scholarship; and

(6) Be admitted to and enroll in an eligible postsecondary institution.

(b) This section shall only apply to a student who is eligible for a Tennessee HOPE scholarship as an entering freshman, but who chooses to attend a regionally accredited postsecondary institution located outside of this state without a HOPE scholarship; provided, that the student enrolls in the regionally accredited postsecondary institution located outside of this state no later than sixteen (16) months after graduating from an eligible high school, graduating from a high school located in this state, completing high school in a Tennessee home school program or obtaining a GED® or HiSET®.

(c) If the student transfers to an eligible postsecondary institution, then the student shall be eligible academically for a Tennessee HOPE scholarship if the student meets the requirements of:

(1) Section 49-4-911(a)(1) and the student transfers before attempting forty-eight (48) semester hours; or

(2) Section 49-4-911(a)(1) or (a)(2) and the student transfers after attempting forty-eight (48) or more semester hours.

(d) To continue to receive a Tennessee HOPE scholarship, the student shall meet the requirements of § 49-4-911. A HOPE scholarship awarded under this section shall be subject to § 49-4-913.

(e) A student who is eligible for a Tennessee HOPE scholarship under this section and who also meets the qualifications for a general assembly merit scholar supplemental award shall be eligible for the supplemental award. A student whose adjusted gross income does not exceed the amount set in § 49-4-915(a)(2) shall be eligible for an ASPIRE award for need. Pursuant to § 49-4-917, a student may not receive both the ASPIRE award for need and the supplemental award as a general assembly merit scholar.