PUBLIC LAW 105-244 —OCT. 7, 1998 112 STAT. 1605 as the TBO') which shall be a discrete management unit responsible for managing the operational functions supporting the programs authorized under title IV of this Act, as specified in subsection (b). " (2) PURPOSES. — The purposes of the PBO are— "(A) to improve service to students and other participants in the student financial assistance programs authorized under title IV, including making those programs more understandable to students and their parents; "(B) to reduce the costs of administering those programs; "(C) to increase the accountability of the officials responsible for administering the operational aspects of these programs; "(D) to provide greater flexibility in the management of the operational functions of the Federal student financial assistance programs; "(E) to integrate the information systems supporting the Federal student financial assistance programs; "(F) to implement an open, common, integrated system for the delivery of student financial assistance under title IV; and "(G) to develop and maintain a student financial assistance system that contains complete, accurate, and timely data to ensure program integrity. "(b) GENERAL AUTHORITY. — "(1) AUTHORITY OF SECRETARY.— Notwithstanding any other provision of this part, the Secretary shall msdntain responsibility for the development and promulgation of policy and regulations relating to the programs of student financial assistance under title IV. In the exercise of its functions, the PBO shall be subject to the direction of the Secretary. The Secretary shall— "(A) request the advice of, and work in cooperation with, the Chief Operating Officer in developing regulations, policies, administrative guidance, or procedures affecting the information systems administered by the PBO, and other functions performed by the PBO; "(B) request cost estimates from the Chief Operating Officer for system changes required by specific policies proposed by the Secretary; and "(C) assist the Chief Operating Officer in identifying goals for the administration and modernization of the delivery system for student financial assistance under title IV. " (2) PBO FUNCTIONS. —Subject to paragraph (1), the PBO shall be responsible for administration of the information and financial systems that support student financial assistance programs authorized under this title, excluding the development of policy relating to such programs but including the following: "(A) The administrative, accounting, and financial management functions of the delivery system for Federal student assistance, including— "(i) the collection, processing and transmission of applicant data to students, institutions and authorized third parties, as provided for in section 483;
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