As used in this part, the term:

(1) “Eligible postsecondary institution” shall have the same meaning as provided in Code Section 20-3-519.

(2) “Eligible student” means an individual who:

(A) Is under the age of 26 years;

(B)(i) Is currently enrolled as a full-time or part-time student in an eligible postsecondary institution; or

(ii) Is within three years of having received his or her high school diploma or state approved high school equivalency (HSE) diploma and has been accepted for admission to an eligible postsecondary institution; and

(C)(i) Is currently in the custody of the Georgia Division of Family and Children Services;

(ii) Is currently participating in the Division of Family and Children Services independent living program in accordance with applicable policies and procedures;

(iii) Has family currently receiving or during the term of such family’s eligibility previously received state funded adoption services as provided for in Code Section 49-5-8;

(iv) Was adopted from the permanent legal custody of and placed for adoption by the Division of Family and Children Services following the child’s fourteenth birthday, including any such individual who, at the time of application to an eligible postsecondary institution, resides outside of Georgia due to such placement;

(v) Is a former foster child who was in the custody of the Division of Family and Children Services for at least six months after reaching the age of 14 years; or

(vi) Is an aging foster child as such term is defined in Code Section 48-7-29.24.

(3) “Georgia Foster Care Scholarship” or “grant” means the grant provided for in this part.

(4) “Grant coordinating organization” means a nonprofit organization that is a qualified organization as such term is defined in Code Section 48-7-29.24 and has, within the prior calendar year, made qualified expenditures as such term is defined in such Code section for the direct benefit of no fewer than 100 aging foster children as such term is defined in such Code section.