The Coordinating Board or Administrator will receive scholarship applications and will forward qualified applications to each participating eligible institution of interest and the participating eligible institutions shall make selections based on a student's:(1) Scholarship interest through the application;(2) Ranking of the participating eligible institution as a top choice;(3) Eligibility criteria set forth in §22.288 of this subchapter (relating to Eligible Students);(4) Evidence of leadership and service within their high school and community; and(5) Demonstrated academic achievement and ability.