; (VI) an Asian American and Native American Pacific Islander-serving institution (as defined in section 371(c)); or (VII) a Native American-serving nontribal institution (as defined in section 371(c)); and (ii) has not received funds under subpart 1. (B) Continuing eligibility The Secretary shall determine whether an institution is an eligible institution under subparagraph (A) based on the most recent data available, and shall review such determination annually to ensure that the institution continues to meet the requirements for participation under this subpart. (C) 2-year institution The term 2-year institution means an institution at which an associate degree is the most frequently awarded degree. (D) 4-year institution The term 4-year institution means an institution of higher education (as defined under section 101(a)) that is not a 2-year institution. (E) Exception (i) In general An eligible institution as described in subparagraph (A) shall not be an eligible institution for purposes of this section for the period described in clause (ii) if such institution was a for-profit institution at any time that converted to a nonprofit institution. (ii) Period of ineligibility An institution described under clause (i) shall not be an eligible institution for purposes of this section for a period of 25 years from the date the institution converted from being a for-profit institution to a nonprofit institution or 25 years after the date of enactment of this subpart, whichever period is longer. (2) Eligible student (A) In general The term eligible student means a student enrolled in an eligible institution who has not obtained a baccalaureate degree or a higher degree and— (i) for the first award year of the program under this subpart, if the student— (I) is a dependent student— (aa) in a single parent household, the student's parent's adjusted gross income for the taxable year that is 1 year prior to the taxable year that ends immediately prior to the beginning of the award year is equal to or less than $125,000