As used in this chapter the term, “public institution of higher education”, means a Government-owned or operated, graduate or undergraduate university, college, junior college, technical and vocational institute or similar institution, and a nonprofit institution that is supported by government funding in whole or in part authorized to provide in the Virgin Islands a program of education beyond the high school level which is accredited by the Middle States Association of Colleges and Schools or other appropriate accrediting organization recognized by the Secretary of the United States Department of Education.