As used in this chapter, unless the context requires a different meaning: “College degree” means an undergraduate degree from an accredited associate-degree-granting or baccalaureate (i) public institution of higher education or (ii) private institution of higher education. “Cost of education” means the operating funds necessary during a fiscal year to provide educational and general services, other than research and public service, to students attending an institution in that fiscal year. “Educational and general fees” means fees over and above tuition charged for certain educational and general services. “Educational and general services” means services associated with instruction, academic support, student services, institutional support, research, public service, or operation and maintenance of physical plant, with adjustments based on particular state policies relating to specific institutional conditions. “Educational and general services” does not include services associated with programs and administrative services that are required to be self-supporting or are otherwise supported by funds other than general funds, such as food services, university-owned or university-leased dormitories or other living facilities, athletics programs, or other self-supporting programs. “Enrollment” or “student enrollment” means the number of full-time equivalent students. “Fiscal year” means the period from July 1 of one calendar year to June 30 of the next calendar year. “Peer institutions” means those institutions determined by the Council, in consultation with a public institution of higher education, the Secretary of Education or his designee, the Director of the Department of Planning and Budget or his designee, and the Chairmen of the House Committee on Appropriations and the Senate Committee on Finance and Appropriations or their designees, to be most similar to such public institution of higher education and provide a fair comparison in determining appropriate and competitive faculty salaries for such public institution of higher education. “Public institution of higher education” does not include each comprehensive community college. “STEM” means science, technology, engineering, and mathematics. “Student” means a full-time or part-time undergraduate, graduate, or professional student attending a public institution of higher education and enrolled in a degree program.