; minus (ii) the average rate of total unemployment in the United States, as determined by the Secretary of Labor. (C) Outstanding loans In this paragraph the term outstanding loans means the total amount of loans issued to students for attendance at the institution, for which regular on-time payments are not being made. (D) Regular on-time payments In this paragraph the term regular on-time payments means payments that are, at a minimum, equal to the fixed monthly amount necessary to pay off the total amount of Federal student loans of the borrower within the allotted repayment time based on the borrower's repayment plan. (3) Credit for certain institutions Each institution shall receive a $400 credit for a fiscal year for each graduate of the institution who received a Federal Pell Grant while enrolled at the institution during such fiscal year. (4) Flexibility in counsel and advice Notwithstanding any other provision of the Act, the Secretary shall grant institutions of higher education flexibility under this Act to counsel and advise students on Federal financial aid, including granting flexibility for institutions to award less than the maximum amount of Federal student aid for which an individual is eligible if the cost of tuition, room, and board at the institution is less than such maximum amount. . (b) Flexibility in counseling and advice Section 485(l) of the Higher Education Act of 1965 ( 20 U.S.C. 1092(l) ) is amended by adding at the end the following: (3) Flexibility in counseling and advice In addition to the entrance counseling under paragraph (1), an eligible institution may require any borrower, at or prior to the time of a disbursement to the borrower of a loan made under part D, to receive the information described in paragraph (2) with respect to such loan, or any other financial counseling, including financial literacy counseling. .