; or (bb) if such student is enrolled in such a program that is less than one academic year, the maximum annual loan amount that such student may receive may not exceed the amount that bears the same ratio to the amount specified in item (aa) as the length of such program measured in semester, trimester, quarter, or clock hours bears to one academic year; (III) in the case of a student at an eligible institution who has successfully completed the first year and second years of an eligible undergraduate flight education and training program but has not yet successfully completed the remainder of such program— (aa) $37,500; or (bb) if such student is enrolled in such a program that is less than one academic year, the maximum annual loan amount that such student may receive may not exceed the amount that bears the same ratio to the amount specified in item (aa) as the length of such program measured in semester, trimester, quarter, or clock hours bears to one academic year; and (IV) in the case of a student at an eligible institution who has successfully completed the first, second, and third years of an eligible undergraduate flight education and training program but has not yet successfully completed the remainder of such program— (aa) $27,500