; and (C) in subsection (c) (as so redesignated), by adding at the end the following: (4) Scholarship An institution that uses grant funds provided under this part to establish or increase an endowment fund may use the income from such endowment fund to provide scholarships to students for the purposes of attending such institution, subject to the limitation in section 331(c)(3)(B)(i). ; (3) in section 312— (A) in subsection (a), by striking transfers which the institution and inserting transfers that the institution ; (B) in subsection (b)(1)— (i) by redesignating subparagraphs (E) and (F) as subparagraphs (F) and (E), respectively; (ii) in subparagraph (E) (as so redesignated), by inserting (as defined in section 103(20)(A)) after State ; and (iii) in subparagraph (F) (as so redesignated), by striking and at the end; and (C) in subsection (b)— (i) by striking the period at the end of paragraph (2) and inserting ; and ; and (ii) by inserting after paragraph (2) the following: (3) except as provided in section 392(b), an institution that has a completion rate of at least 25 percent that is calculated by counting a student as completed if that student— (A) graduates within 150 percent of the normal time for completion; or (B) enrolled into another program at an institution for which the previous program provided substantial preparation within 150 percent of the normal time for completion. ; (4) in section 313— (A) in subsection (a)— (i) by striking for 5 years and inserting for a period of 5 years ; and (ii) by adding at the end the following: Any funds awarded under this section that are not expended or used for the purposes for which the funds were paid within 10 years following the date on which the grant was awarded, shall be repaid to the Treasury. ; and (B) by striking subsection (d); (5) in section 316— (A) in subsection (c)— (i) in paragraph (2)— (I) by striking subparagraph (A) and inserting the following: (A) the activities described in paragraphs (1) through (12) and (14) through (17) of section 311(b)