(a) The amount of a scholarship in an academic year shall not exceed $15,000.(b) A scholarship awarded to a student under this subchapter shall be reduced for an academic year by the amount by which the full amount of the scholarship plus the total amount to be paid to the student for being under contract with one of the branches of the armed services of the United States exceeds the student's total cost of attendance for that academic year at the institution of higher education in which the student is enrolled.(c) A student may receive a scholarship for four years, if the student is enrolled in a degree program of four years or less, or for five years, if enrolled in a degree program of more than four years.(d) A student may not receive a scholarship after having earned a baccalaureate degree or a cumulative total of 150 credit hours, including transferred hours, as verified by the student's institution of higher education.