106 STAT. 610 PUBLIC LAW 102-325—JULY 23, 1992 "(ii) determine the comparability of those standards to standards for accreditation applied to United States medical schools. If such accreditation standards are determined not to be comparable, the foreign medical school shall be required to meet the requirements of section 1201(a). "(C) The failure of an institution outside the United States to provide, release, or authorize release to the Secretary of such information as may be required by subparagraph (A) of this paragraph shall render such institution inehgible for the purpose of part B of this title. Reports- "(D) The Secretary shall, not later than one year after the date of enactment of the Higher Education Amendments of 1992, prepare and submit to the Committee on Education and Labor of the House of Representatives and the Committee on Labor and Human Resources of the Senate a report on the implementation of the regulations required by subparagraph (A) of this paragraph. "(E) If, pursuant to this paragraph, an institution loses eligibility to participate in the progrgims under this title, then a student enrolled at such institution may, notwithstanding such loss of eligibihty, continue to be eligible to receive a loan under part B whfle _^ attending such institution for the academic year succeeding the academic year in which such loss of eligibihty occurred. "(3) An institution shall not be considered to meet the definition of an institution of higher education in paragraph (1), if such institution— "(A) offers more than 50 percent of such institution's courses by correspondence, unless me institution is an institution that meets the definition in section 521(4)(C) of the Carl D. Perkins i Vocational and Applied Technology Education Act; "(B) enrolls 50 percent or more of its students in correspondence courses, unless the institution is an institution that meets the definition in such section; "(C) has a student enrollment in which more than 25 percent of the students are incarcerated, except that the Secretary may waive the prohibition of this subparagraph for a nonprofit institution that provides a 4-year or a 2-year program of instruction (or both) for which it awards a bachelor's or associate's degree, respectively; or "(D) has a student enrollment in which more than 50 percent of the students are admitted pursuant to section 484(d) and does not provide a 4-year or a 2-year program of instruction (or both) for which it awards a bachelor s or associate's degree, respectively. "(4) An institution shall not be considered to meet the definition of an institution of higher education in paragraph (1) if— "(A) such institution has filed for bankruptcy; or "(B) the institution, its owner, or its chief executive officer has been convicted of, or has pled nolo contendere or guilty to, a crime involving the acquisition, use, or expenditure of funds under this title, or has been judicially determined to have committed fraud involving funds under this title. "(5) The Secretary shall certify an institution's qualification as an institution of higher education in accordance with the requirements of subpart 3 of part H. "(6) An institution of higher education shall not be considered to meet the definition of an institution of higher education in paragraph (1) if such institution is removed from eligibility for
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