(1) A member shall maintain satisfactory academic progress and a minimum grade point average of 2.0 as determined by the educational institution attended for the semester for which the member applies for tuition reimbursement;

(2) A member receiving tuition reimbursement under this part who ceases to be eligible for the reimbursement because the member fails to maintain satisfactory academic progress or the required grade point average at the end of any semester may regain eligibility for tuition reimbursement at the end of any subsequent semester in which satisfactory academic progress and the required grade point average are established;

(3) Tuition reimbursement must be paid to an educational institution on behalf of a member for no more than one hundred twenty (120) credit hours or eight (8) full-time equivalent semesters toward a member's first bachelor's degree. A member shall cease to be eligible for tuition reimbursement under this part upon the first of the following events to occur:

(A) The member has attempted one hundred twenty (120) credit hours, inclusive of any postsecondary credit hours earned prior to receipt of tuition reimbursement under this part;

(B) The member has completed eight (8) full-time equivalent semesters; or

(C) The member has earned a first bachelor's degree;

(4) Tuition reimbursement amounts that a member is eligible to receive under this part must be offset and reduced by the aggregate amount of state and federal education financial assistance received by the member during the semester or educational term, unless federal law or regulation requires otherwise, in which case federal priority controls. Such assistance includes, but is not limited to, the Tennessee Promise scholarship, the Tennessee Reconnect grant, the Tennessee HOPE scholarship, and similar state assistance, as such assistance programs or grants may be amended, as well as Tennessee student assistance awards, the federal Pell grant, Montgomery GI Bill benefits, Post-9/11 GI Bill benefits, and federal tuition assistance program benefits;

(5) Members eligible for federal tuition assistance shall apply for and use federal tuition assistance;

(6) Members shall be in good standing and currently active in the Tennessee national guard; and

(7) Members shall submit an application for tuition reimbursement under this part within ninety (90) days of course completion.