Each local and regional board of education shall establish, and update as necessary, a written policy concerning the manner in which students’ grade point averages are calculated, including whether such grade point average is weighted or not weighted. The policy shall provide that parents and students are advised as to whether a grade in an honors class, advanced placement class, International Baccalaureate program, Cambridge International program, dual enrollment, dual credit or early college is or is not given added weight for purposes of calculating grade point average and determining class rank.