Accredited institution means a school or program which -
(a) Admits as regular student only persons having a certificate of graduation from a school providing secondary education, or the recognized equivalent of such certificate;
(b) Is legally authorized within the State to provide a program of education beyond secondary education;
(c) Provides an educational program for which it awards a bachelor's degree or provides not less than a 2-year program which is acceptable toward such a degree, or provides an educational program for which it awards a master's or doctoral degree;
(d) Is accredited by a nationally recognized accrediting agency or association.
42 CFR § 493.2
As used in this part, unless the context indicates otherwise -