Sec. 3. To complete the requirements for a high school diploma, an individual participating in the program established under this chapter must have:
(1) passed:
(A) the graduation examination given under IC 20-32-4;
(B) an examination for a general educational development diploma;
(C) an examination equivalent to the graduation examination:
(i) administered by the state educational institution; and
(ii) approved by the department of education; or
(D) an examination that demonstrates the student is ready for college level work:
(i) administered by the state educational institution; and
(ii) approved by the department of education; and
(2) completed the course work necessary to meet:
(A) the minimum high school course requirements established by the Indiana state board of education; and
(B) the requirements of the state educational institution.