; and (B) prioritize the awarding of such funds to students— (i) who demonstrate exceptional need; or (ii) who are employed in work-based learning opportunities through the work-study program. ; (2) in subsection (c)— (A) in paragraph (1)— (i) by striking program of part-time employment and inserting the following: program— (A) of employment ; and (ii) by inserting or after subsection (b)(3); ; and (iii) by adding at the end the following: (B) of full-time employment of its cooperative education students in work for a private for-profit organization under an arrangement between the institution and such organization that complies with the requirements of subparagraphs (A) through (D) of subsection (b)(1) of this section and subsection (b)(4) of this section; ; (B) by striking paragraph (2); (C) in paragraph (4), by inserting and complement and reinforce the educational goals or career goals of each student receiving assistance under this part after relevant ; and (D) by redesignating paragraphs (3), (4), and (5) as paragraphs (2), (3), and (4), respectively; and (3) in subsection (d)— (A) in paragraph (1)— (i) by striking In any academic year to which subsection (b)(2)(A) applies, an institution shall ensure that and inserting An institution may use the ; and (ii) by striking are used ; and (B) in paragraph (3), by striking may exceed 75 percent and inserting shall not exceed 50 percent . 444. Flexible use of funds Section 445(a) ( 20 U.S.C. 1087–55(a) ) is amended— (1) in paragraph (2), by striking in the same State and inserting described under section 442(a)(1)(B) ; and (2) by adding at the end the following new paragraph: (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 year if— (A) any reduction in the student’s need upon which the award was based is accounted for in the remaining portion