; multiplied by (ii) the non-repayment balance for the cohort for the award year, determined in accordance with subparagraph (C). (B) Risk-sharing percentage The risk-sharing percentage of a student cohort of an institution shall be determined by the Secretary when the cohort is established, shall remain constant for the life of the student cohort, and shall be determined as follows: (i) Completing student cohorts The risk-sharing percentage of a completing student cohort shall be equal to the percentage determined by— (I) subtracting from one the quotient of— (aa) the median value-added earnings (as defined in section 103) of students who completed such program of study in the most recent award year for which data is available, as reported on the College Scorecard at the time the cohort was established; divided by (bb) the median total price charged to students included in such cohort