112 STAT. 1724 PUBLIC LAW 105-244 —OCT. 7, 1998 SEC. 463. AGREEMENTS WITH INSTITUTIONS OF HIGHER EDUCATION. (a) CONTENTS OF AGREEMENTS.— Section 463(a) (20 U.S.C. 1087cc(a)) is amended— (1) by amending subparagraph (B) of paragraph (2) to read as follows:
- (B) a capital contribution by an institution in an
amount equal to one-third of the Federal capital contributions described in subparagraph (A);"; (2) by striking paragraph (4); and (3) by redesignating paragraphs (5) through (10) as paragraphs (4) through (9); (b) AGREEMENTS WITH CREDIT BUREAUS. —Section 463(c) is amended— (1) in paragraph (1)— (A) by striking "the Secretary shall" and inserting "the Secretary and each institution of higher education participating in the program under this part shall"; and (B) by inserting "and regarding loans held by the Secretary or an institution" after "section 467"; (2) in paragraph (2)— (A) in the matter preceding subparagraph (A), by striking "by the Secretary^ and all that follows through "of— " and inserting "by the Secretary or an institution, as the case may be, to such organizations, with respect to any loan held by the Secretary or the institution, respectively, of—"; (B) by amending subparagraph (A) to read as follows: "(A) the date of disbursement and the amount of such loans made to any borrower under this part at the time of disbursement of the loan;"; (C) in subparagraph (B)— (i) by inserting "the repayment and" after "concerning"; and (ii) by striking "any defaulted" and inserting "such"; and (D) in subparagraph (C), by inserting ", or upon cancellation or discharge of the borrower's obligation on the loan for any reason" before the period; (3) in paragraph (3)— (A) in the matter preceding subparagraph (A)— (i) by inserting "or an institution" after "from the Secretary"; and (ii) by striking "until—" and inserting "until the loan is paid in full."; and (B) by striking subparagraphs (A) and (B); (4) by amending paragraph (4) to read as follows: "(4)(A) Except as provided in subparagraph (B), an institution of higher education, after consultation with the Secretary and pursuant to the agreements entered into under paragraph (1), shall disclose at least annually to any credit bureau organization with which the Secretary has such an agreement the information set forth in paragraph (2), and shall disclose promptly to such credit bureau organization any changes to the information previously disclosed. "(B) The Secretary may promulgate regulations establishing criteria under which an institution of higher education may cease
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