Applicants who are awarded a Conroy-Cryor scholarship shall be notified of the award in writing by the institution’s financial aid office. A Conroy-Cryor scholarship recipient shall provide the institution’s financial aid office with a written acceptance of the award by the date specified by the institution. No more than 15 Conroy-Cryor scholarships may be awarded annually to Veterans who suffer from a service connected disability of 25 percent or greater.