R 390.1820 Credit hours paid for by trust.

Rule 20. (1) Credit hours paid for by the trust for any beneficiary under a contract shall include all of the following: (a) All credit hours covered by the contract unless the beneficiary, after enrollment, reduces his or her credit hours and the trust receives a 100% refund for the reduced credit hours. (b) Credit hours for which a beneficiary enrolled but did not receive credit because of incomplete or failing work or the credit hours did not transfer to another public educational institution. (c) Credit hours for which a public educational institution does not impose additional tuition charges because 1 or more credit hours have been paid for by the trust during a particular quarter, term, or semester. (d) Any other credit hours deemed necessary by the board. (2) If a beneficiary, in 1 academic year, is entitled to educational benefits in an amount less than 1/4 of the credit hours needed for a 4-year baccalaureate degree at the beneficiary's public educational institution, the trust will pay the first credit hours for which the beneficiary enrolls during the academic year which are considered credit hours paid for by the trust under subrule (1) of this rule up to the number of credit hours the beneficiary is entitled to receive.