Michigan Laws 390.1628 – Disbursements to approved postsecondary institution; application of money to student’s outstanding indebtedness and remaining balance; rules
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Terms Used In Michigan Laws 390.1628
- 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 390.1622Department: means the department of treasury. See Michigan Laws 390.1622 Fiscal year: means a fiscal year of this state. 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. Michigan promise grant: means a grant awarded by the department under this act. See Michigan Laws 390.1622 Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(1) The department shall disburse Michigan promise grant money to an approved postsecondary institution on the student’s behalf in the following state fiscal years, according to a payment procedure established by the department:
(a) For a Michigan promise grant under section 5 or a Michigan promise grant installment under section 6(2)(c), in the state fiscal year that begins on the first October 1 following the end of the academic year in which the student is eligible for that grant or installment.
(b) For a Michigan promise grant installment under section 6(2)(a) or (b) or a Michigan promise grant under section 6(3), in the state fiscal year that begins on October 1 in the academic year in which the student is eligible for that installment or grant.
(2) An approved postsecondary educational institution shall apply money received under subsection (1) on a student’s behalf to the student’s outstanding indebtedness, if any, and pay the remaining balance as follows:
(a) Unless subdivision (b) applies, to the student.
(b) If the money received by the institution under this subsection is a grant installment under section 6(2)(a) or (b) and the student elects to leave an approved postsecondary educational institution without completing the classes in which he or she enrolled, to the department. The student has no further right to any money returned to the department under this subdivision.
(3) Subsection (2) shall not be considered as creating an obligation on the part of an approved postsecondary educational institution to loan or advance money to a student for the payment of tuition, fees, or other costs or expenses incurred by the student at that institution.
(4) The department may promulgate rules to implement and administer this act, including, but not limited to, 1 or more of the following:
(a) Rules establishing the department’s administrative procedures for the Michigan promise grant program.
(b) Rules governing the qualification requirements for or the award of Michigan promise grants under this act.
(c) Rules establishing an appeals process from a determination of ineligibility for a Michigan promise grant.
(d) Rules establishing what information or reports a student or an approved postsecondary educational institution must provide to establish eligibility and when that information or those reports must be provided.
(e) Rules prescribing the reports to be made by a student awarded a Michigan promise grant and by an approved postsecondary educational institution to which a Michigan promise grant is paid.