INITIAL ELIGIBILITY FOR SCHOLARSHIP.

(a) To be eligible for a scholarship under this subchapter, a student must:

(1) have graduated from a public or accredited private high school, or be a graduate who presents evidence of successful completion of a nontraditional secondary education, as defined by Section 51.9241, in this state while ranked in the top 10 percent or as the valedictorian of the student's graduating class, subject to Section 56.487(b);

(2) have completed the recommended or advanced high school curriculum established under Section 28.025 or its equivalent;

(3) have applied for admission as a first-time freshman student for the 2010-2011 academic year or a subsequent academic year to an institution of higher education that has elected to offer admissions for that academic year to applicants as provided by Section 51.803(a-1);

(4) enroll as a first-time freshman student in an institution of higher education not later than the 16th month after the date of the student's high school graduation;

(5) have been awarded a TEXAS grant under Subchapter M for the same semester or other academic term for which the scholarship will be awarded;

(6) be a Texas resident under Section 54.052; and

(7) comply with any other eligibility requirements established by coordinating board rule.

(b) For purposes of Subsection (a)(1), the class rank of a student who presents evidence of successful completion of a nontraditional secondary education shall be calculated in the manner provided by Section 51.9241(d)(1).