In this section, “University” means the University of Maryland, College Park Campus. There is a program of fellowships for postgraduate work in the Graduate School of the University known as the Judith A. Resnik Memorial Postgraduate Fellowship Program. Each recipient of a fellowship awarded under this section: Shall be a graduate of a standard 4–year college course in an institution of higher education accredited by the Middle States Association of Colleges and Secondary Schools or an equivalent regional accrediting agency; and Shall be recommended for graduate study by the executive head of the institution from which the recipient graduated. If possible, residents of this State shall receive preference in the award of these fellowships. The University shall cooperate with the accredited institutions of higher education in this State by specifying each year the requirements of the graduate school, the standards for determining eligibility for fellowships, and the fields of greatest need for qualified faculty in the public institutions of higher education in this State. Each fellowship: May not be for less than $200 a single year or for more than the highest 10–month stipend for a graduate assistant. May be held for 3 years if the recipient: Continues to be a full–time student at the University and carries at least 12 semester hours of courses each semester; In the judgment of the University, is making satisfactory progress towards a degree; and Maintains the department standards of the University. Each year, the fellowship committee of the University shall certify not more than 18 fellowships to qualified applicants as the amount appropriated to the program that year allows. The award of such fellowships shall be made when possible so as to promote compliance with the State of Maryland desegregation goals. If possible: The distribution shall be made as wide as possible to graduates of accredited institutions of higher education in this State; and Consideration shall be given to the greatest need in securing qualified faculties in the public institutions of higher education in this State.