In light of the findings described in section 2, the legislature declares the purposes of this act and of the Michigan education trust created by this act to be:

    (a) To encourage education and the means of education.

    (b) To maintain state institutions of higher education by helping to provide a stable financial base to these institutions.

    (c) To provide wide and affordable access to state institutions of higher education for the residents of this state.

    (d) To encourage attendance at state institutions of higher education.

    (e) To provide students and their parents economic protection against rising tuition costs.

    (f) To provide students and their parents financing assistance for postsecondary education at a Michigan institution of higher education of their choice.

    (g) To help provide the benefits of higher education to the people of this state.

    (h) To encourage elementary and secondary students in this state to achieve high standards of performance.