Each Senator may award one or more scholarships up to the State’s annual maximum award. The State’s annual maximum award shall be equivalent to the annual tuition and fees of an undergraduate program at the 4-year public institution of higher education within the University System of Maryland with the highest annual expenses for a full-time resident undergraduate student, other than the University of Maryland University College and University of Maryland, Baltimore. A Senatorial Scholarship shall be issued in $100 increments, and may not be less than $400. A recipient is eligible for other scholarships offered by the Office of Student Financial Assistance. A recipient may use up to 50 percent of the yearly award for summer school.