(a) To be eligible for the benefits of this article, a child or spouse set forth in section one of this article shall meet the following conditions:
(1) In the case of a child, is at least sixteen and not more than twenty-five years of age;
(2) Is enrolled in a post-secondary education or training institution in this state; and
(3) Is the child or spouse of an enlistee who designated West Virginia as his or her state of record.
(b) The application shall be made to, and upon forms provided by, the West Virginia Division of Veterans' Affairs. The division shall determine the eligibility of those who apply and the yearly amount to be allotted each applicant. The amount, in the discretion of the division, may vary from year to year, but may not exceed the sum of $1,000 in any one semester or a total of $2,000 in any one year. In selecting those to receive the benefits of this article, preference shall be given those who are otherwise financially unable to secure the educational opportunities.