Tennessee § 49-4-304 - Renewal of award.

§ 49-4-304. Renewal of award.

Each award of student assistance is renewable by TSAC annually for the equivalent of four (4) academic years or until such earlier time as a student receives a baccalaureate degree or has expended eight (8) semesters or twelve (12) quarter terms of enrollment. TSAC shall renew an award only upon the student's application and upon verification that the applicant has completed satisfactorily the work of the preceding year, that the applicant remains a resident of the state, and that the applicant's financial situation continues to warrant the award under the applicable provisions of this part and the policies and rules of TSAC. TSAC may grant a leave of absence to recipients entering military service. Each grant for students attending private business schools or private trade and technical schools is renewable by TSAC annually for the equivalent of two (2) academic years, or until such earlier time as a student receives a degree or has expended six (6) quarter terms of enrollment, or until such time as the student receives a diploma or has expended twelve (12) months' time in pursuance of a diploma or expended six (6) months' time in pursuance of a certificate. Acts 1976, ch. 415, § 5; 1977, ch. 351, §§ 3, 5; T.C.A., § 49-5016; Acts 1981, ch. 223, § 2; T.C.A., § 49-50-116 ; Acts 2020, ch. 794, § 14. Compiler's Notes. For the Preamble to the act concerning HOPE Lottery Scholarships and the Tennessee Promise and Reconnect programs, see Acts 2020, ch. 794. Acts 2020, ch. 794, § 1 provided that the act, which amended this section, shall be known and may be cited as the “Financial Aid Simplification for Tennesseans (FAST) Act”. Amendments. The 2020 amendment substituted “this part and the policies and rules” for “parts 2-7 of this chapter and the policies” in the second sentence of (a)(1). Effective Dates. Acts 2020, ch. 794, § 70. August 1, 2020.