Michigan Compiled Laws § 390.1281 Definitions.

390.1281 Definitions.

Sec. 1.

As used in this act:

(a) “Authority” means the Michigan higher education assistance authority created by Act No. 77 of the Public Acts of 1960, being sections 390.951 to 390.961 of the Michigan Compiled Laws.

(b) “Financial need” means need as determined by the institution based upon a need analysis standard established by the authority. Such standard shall take into consideration the student's current annual income and exclude his or her home equity.

(c) “Independent student” means an independent student as defined in 34 C.F.R. 668.1a.

(d) “Part-time” means not less than 3 semester hours and not more than 11 semester hours per semester, or the equivalent for a quarter or term.

History: 1986, Act 102, Imd. Eff. May 14, 1986

Compiler's Notes: For transfer of powers and duties of Michigan higher education assistance authority to department of treasury, see E.R.O. No. 2010-2, compiled at MCL 124.194.

Section: 390.1281  390.1282  390.1283  390.1284  390.1285  390.1286  390.1287  390.1288    Next

Last modified: October 10, 2016