(a) The board of education of any school district and any eligible postsecondary educational institution may enter into a cooperative agreement regarding the dual or concurrent enrollment of students in courses of instruction for college credit at the eligible postsecondary educational institution. The agreement shall include, but need not be limited to, the following:

(1) The academic credit to be granted for course work successfully completed by the student at the institution, which credit shall qualify as both high school and college credit;

(2) the requirement that such course work qualify as credit applicable toward the award of a degree or certificate at the institution;

(3) except as otherwise provided in subsection (b), the requirement that the student shall pay the negotiated amount of tuition and related costs charged by the institution for the student’s enrollment; and

(4) the requirement that the eligible postsecondary educational institution shall notify the student or the student’s parent or guardian if the course the student enrolled in at the eligible postsecondary educational institution is not a systemwide transfer course approved by the state board of regents and, as a result, the student may not receive credit for such course if the student transfers to or attends another state postsecondary educational institution.

(b) The board of education of a school district, in its discretion, may pay all or a portion of the negotiated amount of tuition and related costs, including fees, books, materials and equipment, charged by an eligible postsecondary educational institution for a student’s enrollment in such institution. As part of any agreement entered into pursuant to this section, the board of education of a school district shall not be required to pay any amount of tuition and required fees that are waived for an eligible foster child pursuant to the foster child educational assistance act, Kan. Stat. Ann. § 75-53,111 et seq., and amendments thereto, except that the board, in its discretion, may pay any related costs that are not waived pursuant to such act, including fees, books, materials and equipment, charged by an eligible postsecondary educational institution for the student’s enrollment in such institution. Any such payment shall be paid directly to the eligible postsecondary educational institution and shall be credited to such student’s account.