(a) The Vermont state postsecondary review entity shall review institutions of higher education in accordance with standards established in 20 U.S.C. § 1099a-3 and with standards established by the Vermont state postsecondary review entity with the agreement of the federal Department of Education.
(b) The Vermont state postsecondary review entity may enter into agreements with the Secretary of the Federal Department of Education pursuant to 20 U.S.C. Chapter 28, Subchapter IV, Part G.