The state department of education may approve or disapprove educational programs, which are post high school in nature designed for transfer of credit, which purport to lead to diplomas, certificates or degrees, in terms of minimum standards which the department may establish with regard to (a) housing space and administrative facilities; (b) educational programs leading to such diplomas, certificates or degrees; (c) laboratory, library and teaching facilities; and (d) instructional staff, for any privately operated institution not incorporated under the provisions of Act No. 327 of the Public Acts of 1931, as amended, being section 450.1 to 450.192 of the Compiled Laws of 1948, when such an institution is operated by a person, group of persons, partnership, partnership association, limited partnership association, or any other form of association. The department may establish minimum general requirements for any degree, diploma or certificate to be offered by such an institution. Nonincorporated, privately operated institutions organized to offer post high school programs for students who will transfer to institutions of higher learning shall be within the jurisdiction of the department of education for purposes of this act. Schools licensed by other agencies, boards or commissions, which review the curriculum prior to the issuance or renewal of a license, shall be exempt from the provisions of this act.