A differential grant received by a student under this act shall not be computed by the authority as a financial resource of the student, the student’s spouse, or parents under rules promulgated by the authority for the administration of the state scholarship or tuition grant programs, if the recipient student is an otherwise eligible applicant for a state competitive scholarship as authorized by Act No. 208 of the Public Acts of 1964, as amended, being section 390.971 to 390.981 of the Michigan Compiled Laws, or an otherwise eligible applicant for a tuition grant as authorized by Act No. 313 of the Public Acts of 1966, as amended, being section 390.991 to 390.997a of the Michigan Compiled Laws.