An institution may, within 20 days of receipt of a statement of findings under Regulation .06 of this chapter, submit to the Secretary a response and proposed corrective action plan. If the Secretary does not receive a response to the statement of findings within the specified time period, the Secretary shall issue a determination affirming the statement of findings and classifying the institution as a for-profit institution of higher education. Within 20 days of receipt of a response to the statement of findings, the Secretary shall: Issue a revised statement of findings and a determination classifying the institution as a private nonprofit institution of higher education; Issue a determination affirming the statement of findings and classifying the institution as a for-profit institution of higher education; or Notify the institution, in writing, that a determination is being deferred for the purposes of entering into a corrective action plan. The criteria used to determine the action the Secretary shall take under §C of this regulation shall include the egregiousness of the private inurement and the feasibility of satisfactory corrective action. Corrective Action Plans. A corrective action plan proposal shall include, at a minimum: A description of the measures necessary to remedy the private inurement; A description of the measures necessary to prevent recurrence of the private inurement; and A timeline for the completion of the corrective action. The Secretary may recommend modifications to the proposed plan, including periodic monitoring or progress reports. If the Secretary and the institution are unable to agree on a final corrective action plan within 10 days of the Secretary’s deferment notification, the Secretary shall issue a determination classifying the institution as a for-profit institution of higher education. Upon agreement of the Secretary and the institution, a final corrective action plan may be modified due to a change in circumstances. If at any time the Secretary finds that an institution is not in compliance with the corrective action plan, the Secretary shall issue a notice to the institution stating the amount of time in which the institution must remedy the noncompliance. If the institution remains in noncompliance after the expiration of the time period in the notice of noncompliance, the Secretary shall issue a determination classifying the institution as a for-profit institution of higher education. If the Secretary finds that a corrective action plan has been satisfactorily completed, the Secretary shall issue a revised statement of findings and a determination classifying the institution as a private nonprofit institution of higher education. Any determination classifying an institution as a for-profit institution of higher education shall state the basis of the determination.