One-halfAt the beginning of the fall semester, one-half of the annual opportunity scholarship award shall must be paid to public institutions, on behalf of eligible students, there enrolled or provided directly to eligible students enrolled at nonpublic institutionsat the beginning of the fall semester and the. The other half shall of the scholarship must be paid at the beginning of the spring semester. The amount of the annual award shall be as follows: (1) One thousand dollars for the first year of attendance; (2) One thousand dollars for the second year of attendance; (3) One thousand dollars for the third year of attendance; (4) Two thousand dollars for the fourth year of attendance unless the student attended full-time a regionally accredited university, college, or technical school located outside South Dakota prior to admission to the program, in which case the award shall be one thousand dollars. For students first receiving a scholarship award after July 1, 2015, the amount of the annual award shall be as followsscholarship is: (1) For students first receiving a scholarship on or before June 30, 2023: (a) One thousand three hundred dollars for the first year of attendance; (2) (b) One thousand three hundred dollars for the second year of attendance; (3) (c) One thousand three hundred dollars for the third year of attendance; and (4)- (d) Two thousand six hundred dollars for the fourth year of attendance unless, except if the student attended was in full-time attendance at a regionally accredited university, college, or technical school, located outside South Dakotathis state, 25 prior to admission to the program, in which case the award shall bethe scholarship is one thousand three hundred dollars; and (2) For students first receiving a scholarship on or after July 1, 2023: (a) One thousand five hundred dollars for the first year of attendance; (b) One thousand five hundred dollars for the second year of attendance; (c) One thousand five hundred dollars for the third year of attendance; and (d) Three thousand dollars for the fourth year of attendance, except if the student was in full-time attendance at a regionally accredited university, college, or technical school, located outside this state, prior to admission to the program, the scholarship is one thousand five hundred dollars. If a scholarship recipient completes an undergraduate degree within three full years of attendance and subsequently enrolls in a graduate program and attains full-time graduate status, as determined by the graduate program, at an eligible institution, as defined described in subdivision § 13-55-31(4) in a graduate program and attains full- time graduate status as determined by the graduate program, the recipient is entitled to the remainder of the award scholarship the recipient would have received if the recipient had completed an undergraduate degree following four full years of attendance. If, in any year, the total funds moneys available to finance the scholarship awardsscholarships are insufficient to permit each eligible recipient to receive the full amount provided in this section, the available moneys shall must be prorated and distributed to each recipient in proportion to the entitlement contemplated byset forth in this section. The total amount of the scholarshippayable to a student under this section may not exceed six seven thousand five hundred dollars. 24