As used in the Educational Assistance Act:
A. "bond" means any bond, note or other evidence of indebtedness;
B. "educational loan" means a loan for educational purposes made to or for the benefit of qualified persons;
C. "foundation" means a corporation formed pursuant to the provisions of the Educational Assistance Act to provide financial assistance for post-secondary education; and
D. "institution of higher education" means the state institutions of higher education enumerated in Article 12, Section 11 of the constitution of New Mexico or other institution of higher education approved by the foundation.