contract Sec. 7.5. A student who: (1) is at least seventeen (17) years of age; and (2) enters into a contract for a scholarship under this chapter to defray the expense of attending any postsecondary educational institution; has full legal capacity to act in the student's own behalf in this transaction and is subject to any obligation that arises from the contract. As added by P.L.9-2021, SEC.5.