(a) To be eligible for a Tennessee HOPE foster child tuition grant, a student shall:

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

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

(3) Meet the applicable academic requirements for a Tennessee HOPE scholarship or Tennessee HOPE access grant that apply to the method by which the student completed high school;

(4) Apply for a Tennessee HOPE foster child tuition grant and file a FAFSA; and

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

(b) This section shall apply to a student who:

(1) Was in state custody for at least one (1) year after reaching fourteen (14) years of age;

(2) Was in state custody for at least one (1) year after reaching fourteen (14) years of age and was placed for adoption by the department of children's services or one of its adoption contract agencies, and the adoption was finalized; or

(3) Was in state custody for at least one (1) year and was placed in permanent guardianship by the department of children's services after reaching fourteen (14) years of age.

(c) The student shall present TSAC with official certification from the department of children's services that the student meets the eligibility requirements of subsection (b) for the tuition grant.

(d) The student shall be eligible for the Tennessee HOPE foster child tuition grant:

(1) For entrance to an eligible postsecondary institution for a period of no more than four (4) years after the date of graduation from high school or its equivalent; and

(2) For a period of six (6) years after admittance to an eligible postsecondary institution if satisfactory progress is achieved and maintained.

(e) The Tennessee HOPE foster child tuition grant shall be the cost of attendance less any gift aid, with the total HOPE foster child tuition grant amount not to exceed the cost of tuition and mandatory fees at the eligible postsecondary institution attended. Additionally, at an eligible independent postsecondary institution, the Tennessee HOPE foster child tuition grant shall not exceed the statewide average public tuition and mandatory fee rate for the type of institution, two-year or four-year, attended.

(f) Nothing in this section shall be construed to:

(1) Guarantee acceptance by, or entrance into, any eligible postsecondary institution for youth in, or formerly in, the custody of the state; or

(2) Limit the participation of a youth in, or formerly in, the custody of the state in any other program of financial assistance for postsecondary education.