If a person who receives an initial tuition equalization grant after the 2004-2005 academic year fails to meet any of the applicable requirements of this subchapter after the completion of any semester or term, the person may not receive a tuition equalization grant during the next semester or term in which the person enrolls. The person may become eligible to receive a tuition equalization grant in a subsequent semester or term if the person:
(1) completes a semester or term during which the student is not eligible for a tuition equalization grant; and
(2) meets all the applicable requirements of this subchapter.