Section 6-85-405 - Distribution - Award amounts(a) If funds are available, the Division of Higher Education shall award Arkansas Concurrent Challenge Scholarships to all students who meet the requirements under this subchapter.(b)(1) The division shall distribute scholarships from the funds available in an equal amount to every approved institution of higher education that has enrolled a student eligible to receive a scholarship under this subchapter.(2) The maximum scholarship award a student may receive in an academic year shall be the lesser of: (A)(i) Five hundred dollars ($500).(ii) A scholarship awarded to a student who is eligible under § 6-85-403 shall be awarded in the amount of one hundred twenty-five dollars ($125) for each endorsed concurrent enrollment credit course or certificate program in which the eligible student is enrolled, up to two (2) endorsed concurrent enrollment credit courses or certificate programs per semester; or(B) The tuition and mandatory fees of the endorsed concurrent credit course or certificate program.(3) A scholarship granted under this section may be awarded in addition to any funds received for the enrollment in an endorsed concurrent enrollment course under § 6-16-1204(e)(3).(4) Unless a student's high school or community-based program provides financial assistance for the cost of tuition and mandatory fees for an endorsed concurrent enrollment course or certificate program, the remaining cost of tuition and mandatory fees for an endorsed concurrent enrollment course or certificate program is the responsibility of the eligible student who is enrolled in the endorsed concurrent enrollment course or certificate program.Added by Act 2019, No. 456,§ 1, eff. 7/24/2019.