; (ii) is enrolled at such institution and carrying a full-time academic workload during each fall and spring semester (or equivalent terms) during which the student participates in such program; (iii) is— (I) a first-time undergraduate student; or (II) a continuing or transfer student with not more than 15 credits and a minimum grade point average of 2.0 (or its equivalent); and (iv) is considered by the eligible institution to need no more than 2 remedial courses; (B) if the student is eligible for financial aid under title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070 et seq.), has completed the Free Application for Federal Student Aid or other common financial reporting form under section 483(a) of such Act ( 20 U.S.C. 1090(a) ); and (C) meets any other requirements established by the institution. (4) Full-time academic workload The term full-time academic workload , when used with respect to an semester or equivalent term, means not less than 12 credits (or the equivalent). (5) Institution of higher education The term institution of higher education has the meaning given the term under section 101 of the Higher Education Act of 1965 ( 20 U.S.C. 1001 ). (6) Secretary The term Secretary means the Secretary of Education. (7) Transfer rate The term transfer rate , when used with respect to students enrolled in a program of study at an eligible institution, means the rate at which such students transfer to a 4-year institution of higher education. 3. Community College Student Success Grant Program authorized From the amounts appropriated under section 10, the Secretary of Education shall establish and carry out the community college student success grant program to award grants under sections 4 and 5, on a competitive basis, to eligible institutions to plan and implement community college student success programs designed to increase— (1) the rate at which eligible students graduate from a program of study at such eligible institution within 150 percent of the normal time for graduation