(a) Only persons who reside in a county in need and who are accepted to or enrolled as a part-time or full-time student in an associate degree nursing program may be eligible for this scholarship program.

(b) Consideration shall be given to:

(c) In deciding which applicants are eligible to receive scholarships, the Foundation shall also consider those factors which it determines indicate the greatest probability of program success and the nursing workforce needs of the state in general and of each medically underserved area.

(d) An applicant who has signed a contract or written agreement with another entity to practice their health profession in exchange for financial assistance, including tuition reimbursement, scholarship, loans, or loan repayment, shall be ineligible to receive a scholarship under this Chapter until the obligation owed to this other entity has been fulfilled.