As used in this subchapter:
(1) “Approved institution of higher education” means an institution of higher education that: Is approved by the Division of Higher Education to participate in the Arkansas Concurrent Challenge Scholarship Program;
(2) Offers at least a fifty-percent discount on the tuition and mandatory fees of an endorsed concurrent enrollment course or certificate program to a student who is enrolled in an endorsed concurrent enrollment course or certificate program, unless other opportunities are provided that lower the tuition and mandatory fees below fifty percent (50%); and
(3) Is a: State-supported two-year or four-year college or university; or
(4) Private, nonprofit two-year or four-year college or university that has its primary headquarters located in Arkansas and that is eligible to receive Title IV federal student aid funds;
(5) “Certificate program” means a program that is offered or made available to a student by an approved institution of higher education that leads to the obtainment of a certification or license.
(6) “Certificate program” does not include a program that is operated or sponsored by a third party;
(7) “Endorsed concurrent enrollment course” means the same as defined in § 6-16-1202.
(8) “Endorsed concurrent enrollment course” does not include a program that is operated or sponsored by a third party; and
(9) “Student” means a person who has junior or senior status and who is enrolled at a: Public high school in Arkansas;
(10) Private high school in Arkansas; or
(11) Home school, as defined in § 6-15-501.