; (ii) by inserting (as so in effect) after section 463(a) ; and (iii) by adding and at the end; and (C) by adding at the end the following: (4) in collecting any obligation arising from a loan made under part E (as in effect on or after the date of enactment of the PROSPER Act ), an institution of higher education that has an agreement with the Secretary pursuant to section 463(a) (as so in effect) shall not be subject to a defense raised by any borrower based on a claim of infancy. . 487. Institutional refunds Section 484B ( 20 U.S.C. 1091b ) is amended— (1) in subsection (a)— (A) in paragraph (1)— (i) by striking If a recipient and inserting the following: (A) Consequence of withdrawal If a recipient ; and (ii) by adding at the end the following: (B) Special rule For purposes of subparagraph (A), a student— (i) who is enrolled in a program offered in modules is not considered withdrawn if the change in the student’s attendance constitutes a change in enrollment status within the payment period rather than a discontinuance of attendance within the payment period; and (ii) is considered withdrawn if the student follows the institution’s official withdrawal procedures or leaves without notifying the institution and has not returned before the end of the payment period. ; (B) in paragraph (3)— (i) in subparagraph (B), by striking clauses (i) and (ii) and inserting the following: (i) 0 percent, if the day the student withdrew occurs when the student has completed (as determined in accordance with subsection (d)) 0 to 24 percent of the payment period or period of enrollment; (ii) 25 percent, if the day the student withdrew occurs when the student has completed (as determined in accordance with subsection (d)) 25 to 49 percent of the payment period or period of enrollment; (iii) 50 percent, if the day the student withdrew occurs when the student has completed (as determined in accordance with subsection (d)) 50 to 74 percent of the payment period or period of enrollment