The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise. (1) Academic year--The period of time during which a full-time student is expected to complete the equivalent of one of the following: (A) two semesters; (B) two trimesters; (C) three quarters. (2) Act--The Higher Education Act of 1965, as amended. (3) Approved teacher education program--A course of study leading to certification as a teacher at the preschool, elementary school, or secondary school level, as determined by the Texas Higher Education Coordinating Board. (4) Award year--The period of time from July 1 of one year through June 30 of the following year. (5) Board--The Texas Higher Education Coordinating Board. (6) Capitalized interest--Unpaid accrued
interest added to the principal amount. (7) Commissioner--The commissioner of higher education, the chief executive officer of the board. (8) Full-time student--A student enrolled in an institution of higher education, other than a correspondence school, who is carrying a full-time academic workload as determined by the institution under standards applicable to all students enrolled in that student's program. (9) Fund--The Paul Douglas Teacher Scholarship fund. (10) The governor's committee--A seven-member statewide panel appointed by the governor for the purpose of selecting scholarship recipients. (11) Resident of Texas--A legal resident of Texas as defined in the Texas Education Code, §§54.052, 54.054, and 54.055. Nonresidents classified as Texas residents for purposes of paying Texas resident tuition and fees are excluded. (12) Scholar--A
scholarship recipient. (13) Scholarship--An award made to an individual under this subchapter for one academic year. (14) Scholarship period--The period of time for which the scholarship is intended. (15) Teacher shortage area--As defined by the United States Secretary of Education.