As used in this chapter, the term "substantial and warranted reason for leaving the regular high school education program" means one or more of the following:

(1) Personal problems which seriously impair the student's ability to make reasonable progress toward high school graduation.

(2) A financial crisis which directly affects the student and necessitates the student's employment during school hours.

(3) The lack of curriculum and instruction which constitutes appropriate learning experiences for the student.

(4) The inability or failure of the school of attendance to adjust its program for the individual or otherwise make arrangements for enrollment in an educational program in a manner which enables the student to advance toward graduation with reasonable progress and success.

(5) A determination by the designated employee that it is in the "best interest" of the student to drop the regular high school program for one of the following purposes:

(a) Enter a postsecondary institution.

(b) Enter the military.

(c) Engage in employment.

(6) Provided, That no person under eighteen years of age (i.e., minor), shall be adjudged to have a substantial and warranted reason for leaving the regular high school education program unless the minor's parents, guardian, or legal custodian, if available, agrees that dropping school is in the best interest of the minor.