Notwithstanding any other provision of this chapter, any regulations promulgated by the Secretary concerning the relationship between clock hours and semester, trimester, or quarter hours in calculating student grant, loan, or work assistance under this subchapter and part
C of subchapter
I of chapter
34 of title
42, shall not apply to a public or private nonprofit hospital-based school of nursing that awards a diploma at the completion of the school’s program of education.