; and (B) the duration of which is no longer than 6 months. . 4054. Flexible use of funds Section 445 of the Higher Education Act of 1965 ( 20 U.S.C. 1087–55 ) is amended— (1) in subsection (a), by adding at the end the following: (3) In addition to the carry-over sums authorized under paragraph (1) of this section, an institution may permit a student who completed the previous award period to continue to earn unearned portions of the student’s work-study award from that previous period if— (A) any reduction in the student’s need upon which the award was based is accounted for in the remaining portion; and (B) the student is currently employed in a work-based learning position. ; and (2) by striking 10 percent both places it appears and inserting 20 percent . 4055. Job location and development programs (a) Amendments Section 446 of the Higher Education Act of 1965 ( 20 U.S.C. 1087–56 ) is amended— (1) in subsection (a)— (A) in paragraph (1), by striking 10 percent or $75,000 and inserting 20 percent or $150,000 ; and (B) in paragraph (2), by striking vocational and inserting career ; and (2) in subsection (b)— (A) by striking paragraphs (1) and (2); and (B) by inserting before paragraph (3) the following: (1) provide satisfactory assurance that the institution will prioritize placing students with exceptional need (as defined in section 413C(c)(2)) and Federal work-study recipients in jobs located and developed under this section; and (2) provide satisfactory assurances that the funds available under this section will be used to locate and develop work-based learning positions; ; and (C) in paragraph (6), by striking the period and inserting , including— (A) the number of students employed in work-based learning positions through such program; (B) the number of students demonstrating exceptional need (as defined in section 413C(c)(2)) and Federal work-study recipients employed through such program