Secretary in accordance with paragraph (4), the institution shall be ineligible to participate in any program under this title for a period of not less than 10 years. (6) Relief for voluntary cessation of federal direct loans for a program of study The Secretary shall, upon the request of an institution that voluntarily ceases to make Federal direct loans to students enrolled in a specific program of study, reduce the amount of the annual risk-sharing payment owed by the institution for each student cohort associated with such program by 50 percent if the institution assures the Secretary that the institution will not make Federal direct loans to any student enrolled in such program of study (or any substantially similar program of study) for a period of not less than 10 award years, beginning with the first award year that begins after the date on which the Secretary reduces such risk-sharing payment. (7) Reservation of funds for promise grants Notwithstanding any other provision of law, the Secretary shall reserve the funds remitted to the Secretary as risk-sharing payments in accordance with this subsection, and such funds shall be made available to the Secretary only for the purpose of awarding PROMISE grants in accordance with subpart 4 of part A of this title. . 302. Regulatory relief (a) 90/10 (1) Regulation repealed Section 668.28 of title 34, Code of Federal Regulations (relating to the 90/10 rule), as added or amended by the final regulations published by the Department of Education in the Federal Register on October 28, 2022 (87 Fed. Reg. 65426 et seq.), is repealed and will have no force or effect. (2) Amendments Section 487 of the Higher Education Act of 1965 ( 20 U.S.C. 1094 ) is amended— (A) in subsection (a), by striking paragraph (24)