; (iii) explain how the estimate was calculated and any assumptions underlying the estimate; (iv) explain that the estimate may be affected if there is a change— (I) in the student's financial circumstances; or (II) the availability of Federal funding; and (v) describe how the remaining period during which the student may receive Federal Pell Grants will be affected by whether the student is enrolled as a full-time student. (B) Nothing in this paragraph shall be construed to prohibit an institution from offering additional counseling to a student with respect to Federal Pell Grants, but such counseling shall not delay or impede disbursement of a Federal Pell Grant award to the student. . (d) Distribution of grants to students Section 401(e) ( 20 U.S.C. 1070a(e) ) is amended by striking the first sentence and inserting Payments under this section shall be made in the same manner as disbursements under section 465(a). . (e) Institutional ineligibility based on default rates Section 401(j) of such Act ( 20 U.S.C. 1070a(j) ) is amended by adding at the end the following: (3) Sunset The provisions of this subsection shall not apply after the transition period described in section 481B(e)(3). . (f) Prevention of fraud Section 401 ( 20 U.S.C. 1070a ) is amended by adding at the end the following: (k) Prevention of fraud (1) In general No Federal Pell Grant shall be awarded under this subpart to any individual who, with respect to not less than any 3 payment periods, for each such payment period— (A) received at least a portion of a Federal Pell Grant award; and (B) did not complete any credit hours (or credit hour equivalencies) for which the individual was enrolled. (2) Waiver The financial aid administrator at an institution may waive the requirement of paragraph (1), if the financial aid administrator— (A) determines that the student was unable to complete the credit hours described in paragraph (1)(B) due to circumstances beyond the student’s control