; and (viii) does not adopt policies to reduce enrollment. (B) 2-year institution The term 2-year institution means an institution at which the credential that is predominantly awarded to students is at the sub-baccalaureate level. (C) 4-year institution The term 4-year institution means an institution that is not a 2-year institution. (D) Exception (i) In general An eligible institution as described in subparagraph (A) shall not be an eligible institution for purposes of this section for the period described in clause (ii) if such institution was a for-profit institution at any time that converted to a nonprofit institution. (ii) Period of ineligibility An institution described under clause (i) shall not be an eligible institution for purposes of this section for a period of 25 years from the date the institution converted from a for-profit institution to a nonprofit institution or 25 years after the date of enactment of this Act, whichever period is longer. (3) Eligible student The term eligible student means a low-income student enrolled in an eligible institution who has not obtained a baccalaureate degree or a higher degree. (4) Full-time equivalent eligible students The term full-time equivalent eligible students means the sum of the number of eligible students projected to enroll full time at an institution for an award year, plus the full-time equivalent of the number of eligible students projected to be enrolled part time (determined on the basis of the quotient of the sum of the credit hours of all part-time eligible students divided by 12) at such institution, for such award year. (5) Low-income student The term low-income student has the meaning given such term by the Secretary, except that such term shall not exclude any student eligible for a Federal Pell Grant under section 401. (6) Public 4-year institution of higher education The term public 4-year institution of higher education has the meaning given the term in section 901. (b) Authorization of grant program (1) In general From amounts