The purpose of LEAP is to provide students in colleges of applied technology, community colleges, and, where applicable, high schools the opportunity to combine occupational training in a high-skill or high-need field with academic credit and to apply that combined work and academic experience towards acquiring a postsecondary credential. Any college of applied technology or community college may establish a LEAP under this part, subject to the approval of the board of regents. The LEAP shall enable employers to employ a participating student on such basis as the employer determines appropriate, and to provide occupational training to the student during the period of employment; provided, that any cooperative education earnings, wages, salary, or other compensation received by the student shall not be included in any determination of the student’s eligibility for any state financial assistance or grants. The LEAP shall also allow the transferability of the student’s completed occupational training and academic hours at other colleges of applied technology, community colleges, and postsecondary institutions in this state in accordance with established transfer pathways, and institution and program accreditation requirements. Notwithstanding any provision of this part to the contrary, the LEAP shall not in any way adversely affect the accreditation of an institution.