As used in this act:
"Institution of higher education" means an institution of higher education licensed by the appropriate agency or department and accredited or preaccredited by a nationally recognized accrediting association. An institution of higher education shall also include certain proprietary institutions, but only for degree granting programs approved by the Commission on Higher Education or other proprietary institutions as determined by the authority.
"Authority" means the Higher Education Student Assistance Authority established pursuant to N.J.S. 18A:71A-1 et seq.
N.J.S. § 18A:71B-23.2