If the Qualified Beneficiary achieves a baccalaureate degree in fewer than the maximum number of credit hours guaranteed under an MPACT Contract and/or in fewer than the number of academic terms for which payment of Mandatory Fees is guaranteed under the Contract, the Purchaser may request a refund of the Redemption Value as defined in Rule 5.1 AA. Such requests must be in writing and include appropriate written documentation, acceptable to the State Treasurer.
38 Miss. Code. R. 3-13.5