TRANSFER OF ALLOTMENTS.

SEC. 488. [20 U.S.C. 1095] TRANSFER OF ALLOTMENTS. In order to offer an arrangement of types of aid, including institutional and State aid which best fits the needs of each individual student, an institution may (1) transfer a total of 25 percent of the institutions allotment under section 462 to the institution's allotment under section 413D or 442 (or both); (2) transfer 25 percent of the institution's allotment under section 442 to the institution's allotment under section 413D or 462 (or both); and (3) transfer 25 percent of the institution's allotment under section 413D to the institution's allotment under section 442. Funds transferred to an institution's allotment under another section may be used as a part of and for the same purposes as funds allotted under that section. The Secretary shall have no control over such transfer, except as specifically authorized, except for the collection and dissemination of information.