18A:68-11.2 - Definitions - New Jersey Statutes

18A:68-11.2.   Definitions    2.     As used in this act:

a.     "Institution of higher education" means an institution of collegiate grade in New Jersey licensed by the Commission on Higher Education or otherwise authorized under N.J.S.18A:68-6 and accredited by the Middle States Association of Colleges and Secondary Schools. 

b.     "Educational loan" means either (1) a loan which is made for the purpose of defraying the cost of attendance by one or more students at the institution of higher education making such loan or (2) a loan to an employee of an institution of higher education for the purpose of defraying the costs of post-secondary school education of the employee or of the spouse or child of the employee. 

L.1977,c.123,s.2; amended 1994,c.48,s.202.