Eligible applicants shall be ranked on the basis of cumulative grade point average. Grades for credits earned as a community college student shall be used to calculate the cumulative grade point average. Awards shall be made to applicants based on cumulative grade point average ranked highest to lowest. Awards shall be issued until the total funds appropriated for the program have been depleted. Recipients shall be notified in writing of the scholarship award. A recipient shall provide written acceptance of the award to the Office of Student Financial Assistance by the date specified in the award notice or the award will be forfeited.