described in paragraph (2) for a quarter exceed the amount owed to the Secretary under paragraphs (1) and (2) for that quarter, no payment shall be due to the Secretary from the institution for that quarter and the Secretary shall pay the institution, from funds realized from the collection of assigned Federal Perkins Loans made before July 1, 2019, an amount that, when combined with the amount retained by the institution under paragraphs (1) and (2), equals the full amount of such administrative costs, charges, and cancellation costs. (b) Assignment of outstanding loans Beginning July 1, 2019, an institution of higher education may assign all outstanding loans made under this part before July 1, 2019, to the Secretary, consistent with the requirements of section 463(a)(5). In collecting loans so assigned, the Secretary shall pay an institution an amount that constitutes the same fraction of such collections as the fraction of the cash balance that the institution retains under subsection (a)(2), but determining such fraction without regard to subparagraph (B)(i) of such subsection. . F 4081. Conforming amendment to family contribution Section 473(b) of the Higher Education Act of 1965 ( 20 U.S.C. 1087mm ) is amended— (1) in paragraph (1), by striking academic year and inserting award year