limits shall include loans made by institutions under agreements under section 463(a). (e) Applicable rates of interest Loans made pursuant to this section shall bear interest, on the unpaid balance of the loan, at the rate of 5 percent per year. . 4066. Requiring a common manual for servicers Section 456 of the Higher Education Act of 1965 ( 20 U.S.C. 1092 ) is amended by adding at the end the following: (c) Common manual The Secretary shall create a manual of common procedures and policies for entities with which the Secretary enters into contracts for origination, servicing, and collection of Federal student loans as described in subsection (b), to standardize procedures to ensure borrowers are well-served. . 4067. Refinancing FFEL and Federal Direct Loans Part D of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1087a et seq.) is amended by adding at the end the following: 460A. Refinancing FFEL and Federal Direct Loans (a) In general Beginning not later than 180 days after the date of enactment of the Aim Higher Act, the Secretary shall establish a program under which the Secretary, upon the receipt of an application from a qualified borrower, makes a loan under this part, in accordance with the provisions of this section, in order to permit the borrower to obtain the interest rate provided under subsection (c). (b) Refinancing direct loans (1) Federal direct loans Upon application of a qualified borrower, the Secretary shall repay a Federal Direct Stafford Loan, a Federal Direct Unsubsidized Stafford Loan, a Federal Direct PLUS Loan, or a Federal Direct Consolidation Loan of the qualified borrower, for which the first disbursement was made, or the application for the consolidation loan was received, before July 1, 2019, with the proceeds of a refinanced Federal Direct Stafford Loan, a Federal Direct Unsubsidized Stafford Loan, a Federal Direct PLUS Loan, or a Federal Direct Consolidation Loan, respectively, issued to the borrower in an amount equal to the sum of the unpaid principal, accrued