(a)
The Student Aid Commission, in consultation with the advisory committee designated pursuant to Section 69966, shall select postsecondary educational institutions to participate in the program. In evaluating applications from educational institutions, the commission shall primarily consider the following factors:
(1)
Administrative capability.
(2)
Ability to utilize available state funds.
(b)
The commission shall also consider:
(1)
Geographical distribution of participating institutions.
(2)
Segmental representation.