To be eligible for athletic competition during the 2
nd semester (February 1-June 30) of the 9
th grade or higher, a pupil must have passed an equivalent of 12.5% of the credits (15) required by the State of New Jersey for graduation (120) at the close of the preceding semester (January 31). Full-year courses shall be equated as ½ of the total credits to be gained for the full year to determine credits passed during the immediately preceding semester.