As used in this act:

    (a) "Board" means the body corporate controlling an institution of higher education which is named in sections 4, 5, or 6 of article 8 of the state constitution of 1963 or established by law, as therein provided.

    (b) "Student loan" means a loan of the type described in section 3.

    (c) "Student loan program" means the program for making loans to students described in section 3.