(1) When any person sixty (60) years of age or older is admitted to and enrolls as a student in any state-supported institution of higher education in this state, the board of trustees of the institution or other appropriate institutional officials shall waive all the general student fee charges for each student on a space-available basis in existing classes.
(2) Fees will be waived only for courses organized to grant credit and recognized by the Division of Higher Education for credit.