(a) After the close of the second fiscal year of the Arkansas Adult Diploma Program and each year thereafter, the Department of Education shall review data from each approved program provider to ensure that each approved program provider is achieving minimum performance standards under the program, including:

1. (1) Minimum of fifty percent (50%) graduation rate for each cohort's measurement period; and
2. (2) Average cost per graduate of seven thousand dollars ($7,000) or less for each cohort's measurement period.

(b)

1. (1) The department shall place an approved program provider that does not meet the minimum program performance standards in 6 CAR § 301-102(b) and subsection (a) of this section on probationary status for the remainder of the fiscal year.
2. (2) An approved program provider placed in probationary status under subdivision (b)(1) of this section will be required to submit an improvement plan to the department.