Beginning in 2013, if an approved program’s graduate passage rates do not equal or exceed the required passage rates for two consecutive calendar years, the board may place the program on probationary status pursuant to Chapter 120, F.S., and may require the program director to appear before the board to present a plan for remediation. If the program is placed on probationary status the program shall remain on probationary status until it achieves a graduate passage rate that equals or exceeds the required passage rate for any one calendar year. However, if the program, during the two calendar years following its placement on probationary status, does not achieve the required passage rate for any one calendar year, the board shall terminate the program pursuant to Chapter 120, F.S.