2640

LAWS 'OF MARYLAND

Ch. 704

(H) "COUNTY" MEANS THE BODY POLITIC AND CORPORATE OF THE
STATE OF MARYLAND KNOWN AS PRINCE GEORGE'S COUNTY, MARYLAND.

(I) "COUNTY EXECUTIVE" MEANS THE CHIEF ELECTED EXECUTIVE
OFFICIAL OF PRINCE GEORGE'S COUNTY, MARYLAND.

(J) "COUNCIL" MEANS THE COUNTY COUNCIL OF PRINCE GEORGE'S
COUNTY, MARYLAND.

(K) "DEFAULT INSURANCE" MEANS INSURANCE INSURING EDUCATION
LOANS, AUTHORITY LOANS, OR BONDS AGAINST DEFAULT.

(L) "DEFAULT RESERVE FUND" MEANS A FUND ESTABLISHED UNDER A
BOND RESOLUTION FOR THE PURPOSE OF SECURING EDUCATION LOANS,
AUTHORITY LOANS, OR BONDS.

(M) "EDUCATION LOAN" MEANS A LOAN WHICH IS MADE BY THE
AUTHORITY OR BY A LENDING INSTITUTION TO A BORROWER IN AN AMOUNT
NOT IN EXCESS OF THE MAXIMUM AMOUNT SPECIFIED BY THE AUTHORITY TO
FINANCE A PART OR ALL OF A STUDENT'S COST OF ATTENDANCE AT A
PARTICIPATING INSTITUTION.

(N) "EDUCATION LOAN SERIES PORTFOLIO" MEANS ALL EDUCATION
LOANS MADE BY A SPECIFIC LENDING INSTITUTION WHICH ARE FUNDED
FROM THE PROCEEDS OF AN AUTHORITY LOAN TO THE LENDING INSTITUTION
OUT OF THE PROCEEDS OF A RELATED SPECIFIC BOND ISSUE THROUGH THE
AUTHORITY.

(O) "INSTITUTION" MEANS ANY PUBLIC OR PRIVATE PROFIT OR
NONPROFIT EDUCATIONAL INSTITUTION WHICH PROVIDES A PROGRAM OF
EDUCATION BEYOND THE HIGH SCHOOL LEVEL, AND:

(1)  ADMITS AS REGULAR STUDENTS ONLY INDIVIDUALS
HAVING A CERTIFICATE OF GRADUATION FROM HIGH SCHOOL OR THE
RECOGNIZED EQUIVALENT OF A HIGH SCHOOL GRADUATION CERTIFICATE;

(2)  PROVIDES AN EDUCATIONAL PROGRAM FOR WHICH IT
AWARDS A BACHELOR'S DEGREE, OR PROVIDES AN EDUCATIONAL PROGRAM,
ADMISSION INTO WHICH IS CONDITIONED UPON THE PRIOR ATTAINMENT OF
A BACHELOR'S DEGREE OR ITS EQUIVALENT, FOR WHICH IT AWARDS A
POSTGRADUATE DEGREE, OR PROVIDES NOT LESS THAN A 2-YEAR PROGRAM
WHICH IS ACCEPTABLE FOR FULL CREDIT TOWARD SUCH A DEGREE, OR
OFFERS NOT LESS THAN A 2-YEAR PROGRAM IN ENGINEERING,
MATHEMATICS, OR THE PHYSICAL OR BIOLOGICAL SCIENCES WHICH IS
DESIGNED TO PREPARE THE STUDENT TO WORK AS A TECHNICIAN AND AT A
SEMIPROFESSIONAL LEVEL IN ENGINEERING, SCIENTIFIC, OR OTHER
TECHNOLOGICAL FIELDS WHICH REQUIRE THE UNDERSTANDING AND
APPLICATION OF BASIC ENGINEERING, SCIENTIFIC, OR MATHEMATICAL
PRINCIPLES OR KNOWLEDGE;

(3)  IS ACCREDITED BY A NATIONALLY RECOGNIZED
ACCREDITING AGENCY OR ASSOCIATION OR, IF NOT SO ACCREDITED, IS AN
INSTITUTION WHOSE CREDITS ARE ACCEPTED, ON TRANSFER, BY NOT LESS
THAN 3 INSTITUTIONS WHICH ARE SO ACCREDITED;