; and (C) by adding at the end the following new paragraphs: (30) (A) The institution— (i) shall not include a predispute arbitration agreement in any contract with a student or prospective student for enrollment at the institution; and (ii) shall agree that, in any case where a contract for enrollment at the institution entered into by a student before the date of enactment of the Protections and Regulation for Our Students Act included a predispute arbitration agreement, such agreement shall be invalid and unenforceable by the institution. (B) In this paragraph, the term predispute arbitration agreement means any agreement to arbitrate a dispute that had not yet arisen at the time of the making of the agreement. (31) (A) If the institution has a student default risk for a fiscal year, as calculated by the Secretary, of 0.1 or greater, the institution will, for such year— (i) provide an individual accepted for enrollment at the institution with a waiting period, beginning on the date that the individual receives notification of the acceptance and lasting for not less than 2 weeks, before the individual is required to enroll in the institution, pay tuition charges, or sign a master promissory note for a loan under this title, in order to give the individual time to consider, and compare among postsecondary options, program costs at the institution and employment prospects upon completion of a program of study; (ii) ensure that the receipt of financial aid, incentives, or other benefits is not made contingent on an individual confirming enrollment before the end of the individual's waiting period; (iii) inform the individual, in writing and in a manner determined by the Secretary at the time of the acceptance notification, of— (I) the individual's right to the 2-week waiting period under clause (i) beginning on the date that the individual receives notification of the acceptance; and (II) the reason why the institution is required to provide such waiting period