(a) A public institution of higher education shall allow an individual with an unpaid balance of $250 or less on a student account to register for courses at the institution if the individual settles the balance on the student account by the end of the late registration period for the next semester.

(b) (1) A public institution of higher education shall allow an individual with an unpaid balance of more than $250 on a student account to register for courses at the institution if the individual enters into an installment payment plan before the end of the late registration period for the current semester.

(2) The installment payment plan under paragraph (1) of this subsection shall require the individual to make payments to settle the unpaid balance on the student account by the agreed on date.