; and (B) require the institution to remit such payments within 90 days of such notification. (5) Penalty for late payments (A) Three-month delinquency If an institution fails to remit to the Secretary a risk-sharing payment for a student cohort as required under this subsection within 90 days of receiving notification from the Secretary in accordance with paragraph (4), the institution shall pay to the Secretary, in addition to such risk-sharing payment, interest on such payment, at a rate that is the average rate applicable to the loans in such student cohort. (B) Twelve-month delinquency If an institution fails to remit to the Secretary a risk-sharing payment for a student cohort as required under this subsection, plus interest owed in under subparagraph (A), within 12 months of receiving notification from the Secretary in accordance with paragraph (4), the institution shall be ineligible to make direct loans to any student enrolled in the program of study for which the institution has failed to make the risk-sharing payments until such payment is made. (C) Eighteen-month delinquency If an institution fails to remit to the Secretary a risk-sharing payment for a student cohort as required under this subsection, plus interest owed under subparagraph (A), within 18 months of receiving notification from the Secretary in accordance with paragraph (4), the institution shall be ineligible to make direct loans or award Federal Pell grants under section 401 to any student enrolled in the institution until such payment is made. (D) Two-year delinquency If an institution fails to remit to the Secretary a risk-sharing payment for a student cohort as required under this subsection, plus interest owed under subparagraph (A), within 2 years of receiving notification from the 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