ASSIGNMENT OF LOANS.

SEC. 4044. ASSIGNMENT OF LOANS. Section 428(c)(8) of the Act (20 U.S.C. 1078(c)(8)) is amended— (1) in the first sentence, by inserting the subparagraph designation “(A)” before “If the”; (2) by striking the second and third sentences; and (3) by adding at the end the following new subparagraph: “(B) An orderly transition from the Federal Family Education Loan Program under this part to the Federal Direct Student Loan Program under part D of this title shall be deemed to be in the Federal fiscal interest, and a guaranty agency shall promptly assign loans to the Secretary under this paragraph upon the Secretary’s request.”.