Sec. 4. "Eligible postsecondary educational institution" means a postsecondary educational institution that:
(1) awards a bachelor's or higher degree;
(2) is located in:
(A) the United States; or
(B) Canada or another country, if permitted under IC 25-23.6-8-2.1, IC 25-23.6-8.5-2, or another provision of this article; and
(3) is accredited by a regional accrediting body.