; (II) a part B institution (as defined in section 322); or (III) a private, nonprofit institution of higher education at which not less than 45 percent of the total student enrollment consists of low-income students (as such term is defined in section 419N(b)(7)). (E) Category of educational programs defined The term category of educational programs , when used with respect to an institution, means one of the following: (i) The educational programs at the institution leading to an undergraduate, non-degree credential. (ii) The educational programs at the institution leading to an associate’s degree. (iii) The educational programs at the institution leading to a bachelor’s degree. (iv) The educational programs at the institution leading to a graduate, non-degree credential. (v) The educational program at the institution leading to a graduate degree. (10) Application of 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)(D), is greater than 20 percent for any 3 consecutive fiscal years 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) for any two consecutive fiscal years ; (C) paragraph (4) shall be applied— (i) in subparagraph (C), by substituting adjusted cohort default rate is greater than 15 percent for cohort default rate equals or exceeds 20 percent