An Educational Assistance Grant may be renewed if the recipient: Files a FAFSA or MSFAA by March 1; Demonstrates financial need; Is enrolled as a full-time student in an eligible institution or community college; At the end of the student’s second academic year and thereafter of receiving the grant, completed at least 24 credits in the prior academic year; Is making satisfactory progress according to institutional standards in compliance with federal Title IV program regulations; and Is a resident of the State or eligible for in-State tuition, as verified by the institution. A Guaranteed Access Grant may be renewed if the recipient: Files a FAFSA or MSFAA by March 1 and, if requested by OSFA or the institution, submits all required verification documentation by the deadline established by OSFA; Has an annual total family income as reported on the FAFSA or MSFAA which is at or below 150 percent of the federal poverty level; Is enrolled as a full-time student in an eligible institution or community college; At the end of the student’s second academic year and thereafter of receiving the grant, completed at least 24 credits in the prior academic year; Is making satisfactory progress according to institutional standards in compliance with federal Title IV program regulations; and Is a resident of the State or eligible for in-State tuition, as verified by the institution. A renewal applicant for a GA Grant who does not meet the requirements of §B of this regulation shall be considered for an EA Grant, if the recipient satisfies the requirements of §A of this regulation, meets the EFC requirements based upon the Statewide ranking of greatest need, and Regulation .03 of this chapter.