§18–2205.

    (a)    The annual scholarship award shall be:

        (1)    At a public senior higher education institution in the State that has a department, school, or college of education, 100% of the equivalent annual tuition, mandatory fees, and room and board of a resident undergraduate student or graduate student, as appropriate, at the public senior higher education institution; or

        (2)    Subject to subsection (b) of this section, at a private nonprofit institution of higher education in the State that has a department, school, or college of education, an amount equal to:

            (i)    The lesser of:

                1.    100% of the equivalent annual tuition and mandatory fees of a resident undergraduate student or graduate student, as appropriate, at the University of Maryland, College Park Campus; or

                2.    50% of the equivalent annual tuition and mandatory fees of a resident undergraduate or graduate student, as appropriate, at the eligible private nonprofit institution of higher education; and

            (ii)    100% of the room and board of a resident undergraduate student or graduate student, as appropriate, at the eligible private nonprofit institution of higher education in the State.

    (b)    A private nonprofit institution of higher education shall provide a matching scholarship award in an amount equal to the award calculated in subsection (a)(2)(i) of this section.