; (C) proposes changes in the administrative practices of the PBO to mitigate problems experienced by borrowers; and (D) identifies potential legislative changes which may be appropriate to mitigate such problems. ; (7) by redesignating subsection (i) as subsection (j); and (8) by inserting after subsection (h) the following: (i) Third party servicer defined In this section, the term third party servicer has the meaning given that term in section 481(c). . (b) Definition of third-Party servicer Section 481(c) of the Higher Education Act of 1965 ( 20 U.S.C. 1088(c) ) is amended— (1) in the matter preceding paragraph (1), by striking contract and inserting contract or other agreement, including a revenue sharing arrangement, ; and (2) in paragraph (1), by striking , through either manual or automated processing, any aspect of such institution's student assistance programs and inserting services on behalf of the institution receiving student assistance funds . (c) Conforming amendments (1) Section 433(b)(13) of the Higher Education Act of 1965 ( 20 U.S.C. 1083(b)(13) ) is amended by striking Student Loan Ombudsman and inserting Borrower Advocate . (2) Section 433(e)(3)(E) of the Higher Education Act of 1965 ( 20 U.S.C. 1083(e)(3)(E) ) is amended by striking Student Loan Ombudsman and inserting Borrower Advocate .