The Program Board shall be responsible for:
         (a) Establishing policy for administration of the DFI
    
grant program authorized under this Act, including criteria to promote placement of grant recipients.
        (b) Reviewing and approving applications for
    
participation in the DFI grant program.
        (c) Establishing subcommittees or panels as necessary
    
to review applications and promote student placement.
        (d) Reporting annually to the Board on program
    
outcomes and results, including lists of new and continuing scholarship award recipients by institution, level, and field of study; lists of recipients retained in the program from the previous year; lists of placements of most recent program graduates; a description of institutional efforts to place program graduates; and a description of policy and administrative actions designed to increase placement of grant recipients.

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