; and (III) that has had, for the previous three award years— (aa) a verified completion rate of at least 70 percent, within 150 percent of the program length of such program of study; and (bb) a verified job placement rate of at least 70 percent, measured 180 days after completion. (C) All students The maximum aggregate amount of loans made, insured, or guaranteed under this title to a student shall be $200,000. . (3) Institutionally determined limits Section 455(a) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(a) ) is further amended by adding at the end the following: (5) Institutionally determined limits (A) In general Notwithstanding any other provision of this subsection, an eligible institution (at the discretion of a financial aid administrator at the institution) may prorate or limit the amount of a loan any student who is enrolled in a program of study for a period of instruction beginning on or after July 1, 2024, at that institution, may borrow under this part for an academic year— (i) if the institution can reasonably demonstrate that outstanding amounts owed of loans made under this title are or would be excessive for students who complete such program, based on the most recently available data from the College Scorecard (or successor website of the Department) on— (I) the median of the value-added earnings of students who complete such program; and (II) the median debt owed, and the repayment rate, on loans made under this part, of such students; (ii) in a case in which the student is enrolled on a less than full-time basis or the student is enrolled for less than the period of enrollment to which the annual loan limit applies under this subsection, based on the student’s enrollment status