Each HBCU shall administer the Program on its campus and shall adopt policies, subject to the requirements of this subtitle, to establish:
(1) Eligibility requirements for a student receiving a scholarship under the Program;
(2) Award amounts to be given to eligible students;
(3) A procedure and schedule for the payment of the scholarship award provided to an eligible student; and
(4) Any other policies necessary for the implementation of the Program.
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