(a) To be eligible for a Tennessee HOPE access grant, an entering freshman student shall:

(1) Meet all requirements of §§ 49-4-904 and 49-4-905;

(2) Have an adjusted gross income attributable to the student that does not exceed thirty-six thousand dollars ($36,000);

(3) Apply for a Tennessee HOPE access grant and file a FAFSA;

(4) Graduate from an eligible high school after December 1, 2003, upon having completed curriculum requirements of the high school for graduation;

(5) Achieve a final overall weighted high school grade point average of at least 2.75;

(6) Attain a composite ACT score of at least 18 on any single ACT test date or a concordant equivalent score on the SAT on any single SAT test date; and

(7) Be admitted to, and enroll in, an eligible postsecondary institution no later than sixteen (16) months after graduation from an eligible high school.

(b)

(1) A Tennessee HOPE access grant shall be awarded to an eligible student only until the end of the semester in which the student has attempted a total of twenty-four (24) semester hours. A student who is eligible for a Tennessee HOPE Scholarship shall be ineligible for a Tennessee HOPE access grant.

(2) A student receiving a Tennessee HOPE access grant shall maintain continuous enrollment at an eligible postsecondary institution.

(3) If a student ceases to be eligible for a Tennessee HOPE access grant at any time for any reason, then the student may not regain the Tennessee HOPE access grant and shall not be eligible for a Tennessee HOPE scholarship.

(c) The receipt of a Tennessee HOPE access grant is contingent upon admission to an eligible postsecondary institution. Financially and academically qualifying for a Tennessee HOPE access grant does not guarantee admission to an eligible postsecondary institution.

(d) Subject to the amounts appropriated by the general assembly and any law relating to a shortfall in funds available for postsecondary assistance from the net proceeds of the state lottery, a Tennessee HOPE access grant shall be fifty percent (50%) of the combined award of the ASPIRE award under § 49-4-915 and the Tennessee HOPE scholarship awarded under § 49-4-914 that is applicable to Tennessee HOPE scholarship recipients at the eligible postsecondary institution at which the Tennessee HOPE access grant recipient is enrolled.

(e)

(1) TSAC shall review a student's eligibility at the end of the semester in which the student has attempted twenty-four (24) semester hours. If a student receiving a Tennessee HOPE access grant has achieved a cumulative grade point average of at least 2.75 at the end of the semester in which the student has attempted twenty-four (24) semester hours, then the student shall be eligible for a Tennessee HOPE scholarship. If the student meets the requirements of § 49-4-915(a)(2), the student shall be eligible for an ASPIRE award.

(2) If a student receiving a Tennessee HOPE access grant does not achieve a cumulative grade point average of at least 2.75 at the end of the semester in which the student has attempted twenty-four (24) semester hours, but the student, without financial assistance from lottery proceeds, continues to attend an eligible postsecondary institution and meets the requirements of § 49-4-911(a)(1) at the end of the semester in which the student has attempted forty-eight (48), seventy-two (72), ninety-six (96) or any subsequent multiple of twenty-four (24) semester hours or the requirements of § 49-4-911(a)(2) at the end of forty-eight (48) semester hours or at the end of any subsequent semester, then the student shall be eligible for a Tennessee HOPE scholarship if the student meets all other applicable requirements. If, at that time, the student meets the requirements of § 49-4-915(a)(2), the student shall be eligible for an ASPIRE award.

(f) A student may receive a Tennessee HOPE scholarship after having received a Tennessee HOPE access grant until the first of the following events:

(1) The student has earned a baccalaureate degree; or

(2) Five (5) years have passed from the date of the student's initial enrollment at any postsecondary institution.

(g) Notwithstanding subsection (f), a student who first receives a Tennessee HOPE scholarship after having received a Tennessee HOPE access grant in the fall semester of 2009 or later may receive the scholarship until the first of the terminating events described in § 49-4-913(b) and (c).