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.
New Jersey Legal Code