As used in the Student Choice Act:
A. "board" ["commission" ["department"]] means the board of educational finance [commission on higher education [higher education department]];
B. "institution" means any independent nonprofit nonsectarian four-year college or university whose New Mexico campus is accredited by the North Central Accrediting Association;
C. "independent" as used with respect to an institution means any institution which is not a state institution; and
D. "student choice grant" means a grant awarded to a student by the board [commission [department]] pursuant to the provisions of the Student Choice Act.