16-33-5. Traveling expenses of students -- The board of governors for higher education may pay to each pupil attending the Rhode Island College, who shall reside within the state, who shall have been duly admitted thereto, and who shall have attended the regular sessions of the college and complied with the regulations thereof during the term next preceding the payments, not exceeding forty dollars ($40.00) for each quarter year, for traveling expenses; but the payments in the aggregate for the traveling expenses shall not exceed the sum of six thousand dollars ($6,000) in any one year, and shall be made to the respective pupils entitled to the same in proportion to the distance they may reside from the college.