(1) The tuition in Arkansas State University-Beebe shall be determined by the Board of Trustees of Arkansas State University.
(2) The board may limit the number of students from time to time according to the capacity and means of the institution and shall make such rules of admission as to equalize as nearly as practical the privileges of the university among the counties composing the district according to population.
(3) No student under fifteen (15) years of age shall be admitted as a student of the university.