As used in this section and ORS 348.205, 348.250, 348.260 and 348.263:
(1) “Cost of education” includes but is not limited to, tuition, fees and living expenses.
(2) “Eligible post-secondary institution” means:
(a) A public university listed in ORS 352.002;
(b) A community college operated under ORS chapter 341;
(c) The Oregon Health and Science University; or
(d) An Oregon-based, generally accredited, not-for-profit institution of higher education.
(3) “Qualified student” means any resident student, or student exempted from paying nonresident tuition under ORS 352.287, who plans to attend an eligible post-secondary institution and who:
(a) Has not achieved a baccalaureate or higher degree from any post-secondary institution;
(b) Is enrolled in an eligible program as defined by rule of the Higher Education Coordinating Commission; and
(c) Is making satisfactory academic progress as defined by rule of the commission.
(2) The Higher Education Coordinating Commission may delay implementation of awards to qualified students in eligible programs that do not lead to a degree until the 2027-2028 academic year if the commission determines additional time is required to ensure proper implementation or to ensure such awards are issued in a manner that aligns with federal government initiatives to award such students.