Sec. 5.
(1) Subject to subsection (2), each scholarship recipient shall receive a $4,000.00 scholarship for 1 academic year of full-time enrollment, or a partial scholarship for part-time enrollment, in a nursing program. The authority shall determine the amount of a partial scholarship by multiplying $4,000.00 by the number of credit hours for which a student enrolls in an academic year, and dividing the product by 30 if the nursing program uses semester credits or by 45 if the nursing program uses term credits.
(2) A scholarship described in subsection (1) shall not exceed an amount equal to the recipient's eligible costs minus any other grants or scholarships the recipient receives in any academic year in a nursing program.
(3) An individual shall not receive scholarship assistance for more than 4 academic years.
History: 2002, Act 591, Imd. Eff. Oct. 17, 2002