; (ii) shall be subject to ongoing tracking and monitoring by the Secretary to determine the progress of the institution in meeting the standards for student achievement described in subparagraph (A)(ii)(II); and (iii) if the institution shows no improvement on meeting the standards for student achievement described in subparagraph (A)(ii)(II) within a 2-year period, such institution shall be ineligible to receive Federal loans under this title on behalf of any student who enrolls in the institution for the first time after the expiration of such 2-year period. (10) Application of section 435(a) to adjusted cohort default rate Beginning on the date on which the final adjusted cohort default rates are published by the Secretary for not less than 3 fiscal years— (A) paragraph (1) shall be applied by substituting paragraph (9) for paragraph (2) (B) paragraph (3) shall be applied by substituting adjusted cohort default rate, calculated in accordance with subsection (m)(1)(E), is equal to or greater than 20 percent for cohort default rate, calculated in accordance with subsection (m), is equal to or greater than the threshold percentage specified in paragraph (2)(B)(iv) ; (C) paragraph (4) shall be applied— (i) in subparagraph (C), by substituting adjusted cohort default rate equals or exceeds 15 percent for cohort default rate equals or exceeds 20 percent ; and (ii) in the matter following subparagraph (C), by substituting adjusted cohort default rate to reflect the percentage of defaulted loans in the representative sample that are required to be excluded pursuant to subsection (m)(1)(B) for cohort default rate to reflect the percentage of defaulted loans in the representative sample that are required to be excluded pursuant to subsection (m)(1)(B) ; (D) paragraph (5)(A) shall be applied by substituting paragraph (9) for paragraph (2)