; and (II) for any subsequent award year, unless the program reapplies for eligibility in accordance with clause (iii) and the Secretary determines that the program meets the requirements of such clauses. (ii) Not later than 60 days after receiving notification from the Secretary of the loss of eligibility under clause (i), a program may appeal a loss of eligibility to the Secretary. The Secretary may restore the eligibility of a program under this paragraph if the program demonstrates to the Secretary that extenuating circumstances led to the loss of eligibility. (iii) The Secretary shall issue a decision on any appeal submitted by a program under clause (ii) not later than 45 days after its submission. (iv) After the expiration of the two-year period described in clause (i)(I), a program that lost eligibility under clause (i) may reapply to the Secretary for a determination of eligibility under this paragraph. (D) (i) In this subsection, the term verified annual earnings rate means the mean or median annual earnings rate (whichever is higher) of individuals who completed a program calculated as of the date that is approximately one year after the date on which such individuals completed the program. (ii) For the first year for which a program seeks eligibility under this paragraph, the institution that offers such program shall— (I) determine the verified annual earnings rate using data obtained on individuals who completed the program; (II) obtain an audit of such determination from an independent auditor; (III) together with the auditor described in subclause (II), certify the accuracy of the verified annual earnings rate to the Secretary