(1) The commission is directed to establish an educational exchange program consistent with the national student exchange program. The commission shall identify those circumstances under which the waiving of the nonresident differential in tuition rates, on a reciprocal basis with other states or foreign countries, would enhance the educational experience for Colorado residents enrolled in state institutions. In relation thereto, the commission shall:

(a) Consult with the governing bodies and departments of state institutions in order to identify those classes and numbers of Colorado residents enrolled in said institutions whose educational experience would be enhanced by participation in said program; and

(b) Negotiate with the appropriate representatives of other states or foreign countries with the objective of establishing reciprocal agreements for waiving the nonresidential tuition differential for Colorado residents enrolled in state institutions who wish to enroll in the institutions of higher education in other states or foreign countries in exchange for the waiver of the nonresidential tuition differential for residents of said other states or foreign countries wishing to enroll in state institutions. The number of resident students participating in the educational exchange program shall be matched by an equal number of nonresident students enrolling at Colorado institutions of higher education.

(2) Repealed.

(3) No student may be a recipient or participant in the educational exchange program for more than one year.

(4) Residents of other states or foreign countries attending state institutions pursuant to said educational exchange program shall not be counted as nonresident students. Notwithstanding their presence in the state, such students shall not be permitted to apply the time spent in the educational exchange program toward satisfaction of residency requirements for tuition purposes.

(5) As used in this part 6, "Colorado resident" means a person who is classified, for tuition purposes, as an in-state student.