The Vermont Higher Education Council is hereby designated as the Vermont state postsecondary review entity for the purpose of reviewing all institutions of higher education that are eligible or which desire to become eligible for funding under 42 U.S.C. Chapter 34, Subchapter I, Part C (work study programs) or 20 U.S.C. Chapter 28, Subchapter IV (student assistance). (Added 1993, No. 144 (Adj. Sess.), § 1.)