3. The Commission on Higher Education shall establish policies and procedures for the nomination and selection as program fellows of academically talented minority undergraduate students who are in their junior year of study at a public or independent college or university within the State. Upon the selection of program fellows, the institution in which each student who is selected is enrolled shall assign to the student a faculty advisor who shall do the following:
a. Supervise a research project conducted by the fellow during the junior year or actively involve the student in a project which the advisor is conducting;
b. Supervise the fellow as an undergraduate teaching assistant in the fellow's senior year of study;
c. Accompany the fellow to the annual meeting of the professional association of the fellow's academic discipline; and
d. Assist the fellow in the selection of a graduate or professional school.