(a) A student may receive one or more awards of student financial assistance administered by the Office if:
(1) Eligibility requirements are met for each type of student financial assistance received; and
(2) The total of all student financial assistance received does not exceed:
(i) The student’s total cost of education as certified by the institution the student is attending; and
(ii) The equivalent annual expenses of a full–time resident undergraduate at the 4–year public institution of higher education within the University System of Maryland, other than the University of Maryland Global Campus and University of Maryland, Baltimore Campus, with the highest annual expenses for a full–time resident undergraduate.
(b) A student who receives multiple awards of student financial assistance that have a service obligation requirement:
(1) Must fulfill the terms of each service obligation; and
(2) May not fulfill the service obligations concurrently.