One of my sons (and many of his friends) got the full Banneker-Key. It’s a terrific scholarship and it opens doors on campus. There are plenty of top students there; we personally know folks who turned down Ivies for the B-K. Those students went on to top grad schools, med schools, etc. Research opportunities are excellent.
The campus and culture is very different from Vanderbilt – if the money’s all the same, look at opportunities, culture, support for pre-med applicants, and sit in on classes if you can visit.