(1) The scholarship value is indexed to undergraduate, resident tuition, and service and activity fees at the state's public colleges and universities, not to exceed the cost at the public research universities. The scholarship value does not include the cost of technology fees or other miscellaneous fees.

(2) The scholarship will not exceed the value of public tuition and service and activity fees for full-time enrollment at the fifteen credit level for an academic term.

(3) The scholarship is reduced for less than full-time enrollment or withdrawal from all classes. See WAC 250-85-070, What is the result of dropping a class after receiving the WAVE scholarship funds?

(4) The scholarship for WAVE recipients enrolled at participating independent institutions, or licensed private career colleges or schools, will not exceed the maximum scholarship values for recipients enrolled full time at the public research universities.

(5) The scholarship value may be adjusted and is payable to the extent that funding is appropriated for the WAVE program. Scholarship values may be reduced in a fiscal year to remain within available dollars as funding dictates or as required by the legislature. Participating institutions are notified if adjustments are necessary during the course of an academic or fiscal year.