; and (2) the Secretary shall deposit any sums collected on such notes or obligations (less an amount not to exceed 30 percent of any such sums collected to cover that Secretary’s collection costs) into the Treasury of the United States. (e) Closed school discharge The amendments made by section 427 to section 437(c) of the Higher Education Act of 1965 ( 20 U.S.C. 1087 ), relating to closed school discharge, shall apply with respect to any loans discharged on or after the date of enactment of this Act under section 464(g) of such Act ( 20 U.S.C. 10877dd(g) ), as in effect pursuant to subsection (a)). 462. Federal ONE Loan program Part E of title IV ( 20 U.S.C. 1087aa et seq.) is amended to read as follows: 461. Program authority (a) In general There are hereby made available, in accordance with the provisions of this part, such sums as may be necessary to make loans to all eligible students (and the eligible parents of such students) in attendance at participating institutions of higher education selected by the Secretary to enable such students to pursue their courses of study at such institutions during the period beginning July 1, 2019. Loans made under this part shall be made by participating institutions that have agreements with the Secretary to originate loans. (b) Designation The program established under this part shall be referred to as the Federal ONE Loan Program . (c) ONE Loans Except as otherwise specified in this part, loans made to borrowers under this part shall be known as Federal ONE Loans . 462. Funds for the origination of ONE loans (a) In general The Secretary shall provide, on the basis of eligibility of students at each participating institution, and parents of such students, for such loans, funds for student and Parent Loans under this part directly to an institution of higher education that has an agreement with the Secretary under section 464(a) to participate in the Federal ONE Loan Program under this part and that also has an agreement with the Secretary under section 464(b) to