Michigan Laws 390.1626 – Payments; installments; adjustment
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Michigan Laws 390.1626
- Academic year: means the period from September 1 of a calendar year to August 31 of the next calendar year. See Michigan Laws 390.1622
- Approved postsecondary educational institution: means any of the following:
(i) A public or private college or university, junior college, or community college that grants degrees or certificates and is located in this state. See Michigan Laws 390.1622Cumulative grade point average: means the weighted mean value of the courses considered by an approved postsecondary educational institution in determining whether to award a student an associate's degree or a 2-year certificate of completion in a vocational training program, whether the student has completed a comparable vocational education program, or whether the student has completed 50% or more of the academic requirements for the award of a bachelor's degree, including any courses completed at another approved postsecondary educational institution if the student transfers the credits for those courses to the approved postsecondary educational institution making that determination. See Michigan Laws 390.1622 Department: means the department of treasury. See Michigan Laws 390.1622 Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006. Fiscal year: means a fiscal year of this state. See Michigan Laws 390.1622 in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q Majority leader: see Floor Leaders Michigan promise grant: means a grant awarded by the department under this act. See Michigan Laws 390.1622 Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
(1) Subject to proration under subsection (3) and adjustment under subsection (4), a student who meets the eligibility requirement of section 4(3)(c)(ii) and the other applicable eligibility requirements under section 4 and this section shall receive a Michigan promise grant in the amount of $4,000.00.
(2) Except for a student who is enrolled in a program described in subsection (3), the department shall pay a grant under subsection (1) as follows:
(a) One thousand dollars paid in the student’s first academic year of enrollment at an approved postsecondary educational institution.
(b) One thousand dollars paid in the student’s second academic year of enrollment at an approved postsecondary educational institution.
(c) The remainder of the amount of the grant after completion of 2 academic years of enrollment at an approved postsecondary educational institution. However, the student is not eligible for this installment, and forfeits any remaining grant amount to which he or she is otherwise entitled under this act, unless the student earned an associate’s degree, earned a 2-year certificate of completion in a vocational education program, completed a comparable vocational training program approved by the department, or completed 50% or more of the academic requirements for the award of a bachelor’s degree at an approved postsecondary educational institution within 4 years of his or her initial enrollment in that institution and meets 1 of the following:
(i) Has a cumulative grade point average of at least 2.5.
(ii) If the student completed a vocational education program that does not record grades or grade point averages for its students, has successfully completed that program.
(3) Subject to adjustment under subsection (4), a student who meets the eligibility requirement of section 4(3)(c)(ii) and the other applicable eligibility requirements under section 4 and this section, and who is enrolled in a vocational training program that as determined by the department generally requires less than 2 years or fewer than 1,800 clock hours, as applicable, to complete, shall receive a prorated amount of the amount described in subsection (1) determined by the department to reflect the number of clock hours necessary to complete the program.
(4) If in any fiscal year the department determines that the amount appropriated by the legislature for the payment of Michigan promise grants under this act is not sufficient to pay each eligible student the amount required under this section for the academic year, the department shall adjust the Michigan promise grant amounts paid under this section by prorating the amounts as necessary to reflect the available resources and amounts appropriated in that fiscal year. The department shall notify the governor, the speaker of the house of representatives, and the majority leader of the senate in writing at least 30 days before implementing a proration under this subsection.