Sec. 8. "Eligible institution", for the purposes of:
(1) IC 21-12-6, refers to a postsecondary educational institution that qualifies as an eligible institution under IC 21-12-6-4; and
(2) IC 21-12-8, refers to a postsecondary educational institution that:
(A) operates in Indiana;
(B) is either operated by the state or operated nonprofit;
(C) operates an organized program of postsecondary education leading to a technical certificate, nursing diploma, or associate or baccalaureate degree; and
(D) is authorized by the department of workforce development under IC 22-4.1-21 or accredited by:
(i) a recognized regional accrediting agency;
(ii) the board for proprietary education under IC 21-18.5-6; or
(iii) the Indiana state board of nursing.