Section 390.1626 - Payments; installments; adjustment(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.Added by 2006, Act 479,s 6, eff. 12/21/2006.