Although many students might be excited about the possibility of the Promise’s return, the announcement shouldn’t be met with too much enthusiasm. Yes, Granholm intends to bring it back, but it shouldn’t be forgotten that the scholarship also was in the 2009-10 budget proposal before it was slashed in November 2009.

Last fall, MSU’s Office of Financial Aid was able to offset the loss of the Michigan Promise Scholarship with $7.9 million of federal stimulus money in the form of one-time $500 grants to students. MSU’s efforts to assist where the state failed deserve commendation, but it’s not the university’s role to continue to provide students with state-promised funds.

With the state in a similar financial situation as last year, it might have trouble finding the $160 million it would take to reinstate the Michigan Promise Scholarship. Granholm said her budget proposal would “identify a creative way to pay for it,” but state residents likely won’t know what that is until her budget proposal is released Thursday. We’re very curious what this “creative way” is, and we expect many state residents’ reactions to her plan will depend on how she wants to pay for the Promise.

Still, the state should do everything in its power to ensure this scholarship returns. Students were promised money for college if they stayed in state and should receive those funds they earned and were guaranteed. If the state has a way to allocate $160 million to the scholarship fund, then they should do so, but the Legislature can’t continue to spend money it doesn’t have. If in the unfortunate situation arises where Granholm and other lawmakers can’t find the money, the Promise should not be reinstated.

A complete judgment cannot be made about Granholm’s statement until her budget proposal has been released. Without knowing how the state intends to come up with the cash, the restoration of the Michigan Promise Scholarship can’t be praised just yet.

The fact that Granholm has come out and stated her intentions to restore the program is a good sign. The award was promised to in-state students, and they should receive the money, but only if it truly fits in the state’s budget.

As long as the scholarship is funded in a fiscally responsible way that is not putting an undue burden on Michigan residents, this promise is one that should be kept.