AGREEMENTS WITH INSTITUTIONS.

SEC. 463. AGREEMENTS WITH INSTITUTIONS.(a) Transfers for Collection.—Section 463(a)(4)(B) (20 U.S.C. 1087cc(a)(4)(B)) is amended to read as follows:“(B) if the institution is not one described in subparagraph (A), the Secretary may allow such institution to refer such note or agreement to the Secretary, without recompense, except that, once every six months, any sums collected on such a loan (less an amount not to exceed 30 percent of any such sums collected to cover the Secretary’s collection costs) shall be repaid to such institution and treated as an additional capital contribution under section 462;”.(b) Revise Authority To Prescribe Additional Fiscal Controls.—Section 463(a)(9) (20 U.S.C. 1087cc(a)(9)) is amended by inserting “, except that nothing in this paragraph shall be construed to permit the Secretary to require the assignment of loans to the Secretary other than as is provided for in paragraphs (4) and (5)” before the period.