Section 43. (a) No student at a postsecondary institution shall incur academic or financial penalties by virtue of performing military service on behalf of the United States. A student who enrolls in an academic course at any of the institutions in subsection (b) but is unable to complete an academic course because that student is called to or enlists in active duty, as defined in section 1 of chapter 15E, shall have the option to complete the course at a later date without penalty or withdraw from the course with a full refund of fees and tuition paid. If the academic course is no longer available upon the student’s return from active duty, the student shall be permitted to complete a replacement course for equivalent credit without penalty. If the student chooses to withdraw from the course, the student’s record shall reflect that the withdrawal is due to active duty.

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(b) This section shall apply to all postsecondary institutions including: (i) the system of public institutions of higher education, established in section 5; (ii) private occupational schools, as defined in section 263 of chapter 112; and (iii) private colleges, universities and other institutions of higher learning.