Eligible Educational Institution Law and Legal Definition

According to 26 CFR 1.25A-2 [Title 26 Internal Revenue; Chapter I Internal Revenue Service, Department of the Treasury; Subchapter A Income Tax], an eligible educational institution means “a college, university, vocational school, or other postsecondary educational institution that is

(1)Described in section 481 of the Higher Education Act of 1965 as in effect on August 5, 1997 (generally all accredited public, nonprofit, and proprietary postsecondary institutions); and

(2)Participating in a Federal financial aid program under title IV of the Higher Education Act of 1965 or is certified by the Department of Education as eligible to participate in such a program but chooses not to participate.