Sec. 3. (a) This section applies to a grant or reduction in tuition or fees described in section 1 or 2 of this chapter.
(b) As used in this section, "professional degree program or accelerated graduate degree program" refers to a four (4) or five (5) year postsecondary school course of study:
(1) to which an individual may be admitted without completing a baccalaureate degree;
(2) that requires an individual to enroll in graduate level or professional degree courses before completing a baccalaureate degree; and
(3) that leads to a degree that is not an undergraduate degree, as determined by the commission.
(c) An individual who has previously received a grant or reduction in tuition or fees described in section 1 or 2 of this chapter may continue to use all renewals and extensions for a professional degree program or accelerated graduate degree program. The total grant or reduction in tuition or fees under a statute listed in section 1 or 2 of this chapter for all:
(1) undergraduate credit hours or semesters; and
(2) professional degree program or accelerated graduate degree program credit hours or semesters;
may not exceed the maximum credit hours or semesters permitted under section 1 or 2 of this chapter, as applicable and must be used within eight (8) years after the date the individual first applies and becomes eligible for benefits under the applicable law.