; and (iii) include the information described in clause (i) on materials of acceptance or admission submitted to each student before the student enrolls in the institution, for 1 year or until the Secretary has issued the final program review report under subsection (c)(6)(C), whichever occurs sooner. (3) Risk-based reviews (A) In general The Secretary shall use a risk-based approach to select, on an annual basis not less than 2 percent of institutions of higher education participating in a program authorized under this title that are not reviewed under paragraph (2), for a program review. Such approach shall prioritize program reviews of institutions that— (i) have received large increases in funding under this title during the 5-year period preceding the date of the determination; (ii) have a large proportion of overall revenue from Federal funds, as defined in section 166(2); (iii) have a significant fluctuation in Federal Direct Stafford Loan volume, Federal Pell Grant award volume, or any combination thereof, in the year for which the selection is made, compared to the year prior to such year, that is not accounted for by changes in the Federal Direct Stafford Loan program, the Federal Pell Grant program, or any combination thereof; (iv) have experienced sharp increases in enrollment in absolute numbers or rate of growth; (v) have high rates of defaults, relative to all other institutions of higher education participating in a program authorized under this title, for loans issued under this title over the lifetime of the loans; (vi) have a large aggregate dollar amount of loans under this title in default, or a high cohort default rate as described in section 435(m); (vii) have a high student default risk, as compared to the student default risk for all institutions participating in a program under this title