; or (ii) submit to Congress a request for the enactment of legislation increasing the amount of the aggregate guarantee authority. (i) Purchase of guaranteed obligations by federal financing bank The Federal Financing Bank may not purchase a note or other obligation guaranteed under this section. (j) Imposition of fee or charge The Secretary shall collect fees from borrowers to result in a credit subsidy cost of zero for guaranteeing notes or other obligations under this section. (k) Guarantee of obligations backed by loans (1) Authority The Secretary may, upon such terms and conditions as the Secretary considers appropriate, guarantee the timely payment of the principal of and interest on such trust certificates or other obligations as may be— (A) offered by the Secretary or by any other offeror approved for purposes of this subsection by the Secretary; and (B) based on and backed by a trust or pool composed of notes or other obligations guaranteed or eligible for guarantee by the Secretary under this section. (2) Full faith and credit To the same extent as provided in subsection (g), the full faith and credit of the United States is pledged to the payment of all amounts that may be required to be paid under any guarantee made by the Secretary under this subsection. (3) Subrogation If the Secretary pays a claim under a guarantee made under this section, the Secretary shall be subrogated for all the rights of the holder of the guaranteed certificate or obligation with respect to the certificate or obligation. (4) Effect of other laws No State or local law, and no Federal law, shall preclude or limit the exercise by the Secretary of— (A) the power to contract with respect to public offerings and other sales of notes, trust certificates, and other obligations guaranteed under this section upon such terms and conditions as the Secretary determines appropriate; (B) the right to enforce any contract described in subparagraph (A) by any means determined appropriate by the Secretary