(a) A private career school student grant may be used at a private career school in this State that:
(1) Is approved by the Maryland Higher Education Commission;
(2) Operates solely within the State;
(3) Does not have an outstanding notice of deficiencies under appeal in accordance with the regulations adopted by the Higher Education Commission;
(4) Does not have a negative final report under the State Postsecondary Review Program in accordance with 34 C.F.R. § 667.23 as the regulation may be amended; and
(5) Has not been referred for review under the State Postsecondary Review Program as a result of its student loan default rates in accordance with 34 C.F.R. § 667.5 as the regulation may be amended.
(b) A grant awarded under this subtitle may be used for tuition charges only.