; (III) media such as audiovisual services; (IV) academic administration; and (V) formally organized and separately budgeted academic personnel development and course and curriculum development expenses; and (ii) information technology expenses related to academic support activities or, if an institution does not separately budget and expense information technology resources, the costs associated with the three primary programs shall be applied to this function and the remainder to institutional support. (E) Full-time equivalent students enrolled The term full-time equivalent students enrolled means the number of full-time students enrolled, plus— (i) in the case of an institution of higher education that is a public, 4-year institution— (I) the number of part-time undergraduate students enrolled multiplied by 0.403543; and (II) the number of part-time graduate students enrolled multiplied by 0.361702; (ii) in the case of an institution of higher education that is a private, nonprofit or for profit, 4-year institution— (I) the number of part-time undergraduate students enrolled multiplied by 0.392857; and (II) the number of part-time graduate students enrolled multiplied by 0.382059; (iii) in the case of an institution of higher education that is a public, 2-year institution, the number of part-time undergraduate students enrolled multiplied by 0.335737; and (iv) in the case of an institution of higher education that is not described in clause (i), (ii), or (iii), the number of part-time undergraduate students enrolled multiplied by 0.397058. (2) Institution of higher education The term institution of higher education means an institution of higher education (as defined in section 101(a)) or a proprietary institution of higher education (as defined in section 102(b))— (A) that predominately awards more bachelor’s degrees than associate's degrees and certificates