“Institution of higher education,” for the purposes of this title, means an educational institution which:
3. Provides an educational program for which it awards a bachelor’s or higher degree, or provides a program which is acceptable for full credit toward such a degree, a program of postgraduate or postdoctoral studies, or a program of training to prepare students for gainful employment in a recognized occupation;
1971, Ex. Sess., c. 235, § 60.1-14.1; 1986, c. 480.