; and (B) does not include an extension of credit under an open-end consumer credit plan, a reverse mortgage transaction, a residential mortgage transaction, or any other loan that is secured by real property or a dwelling. (7) Proprietary institution of higher education The term proprietary institution of higher education has the meaning given the term in section 102(b) of the Higher Education Act of 1965 ( 20 U.S.C. 1002(b) ). (8) Recruiting and marketing activities (A) In general Except as provided in subparagraph (B), the term recruiting and marketing activities means activities that include any of the following: (i) Advertising and promotional activities, including paid announcements in newspapers, magazines, radio, television, billboards, electronic media, naming rights, or any other public medium of communication, including paying for displays or promotions at job fairs, military installations, or college recruiting events, that are made directly or indirectly to a student, a prospective student, the public, an accrediting agency, a State agency, or to the Secretary by a proprietary institution of higher education, one of its representatives, or any person with whom the institution has an agreement to provide educational programs, advertising, or admissions services. (ii) Misleading statement, misrepresentation, and substantial misrepresentation (as defined in section 668.71(c) of title 34, Code of Federal Regulations, or any successor regulation). (iii) Efforts to identify and attract prospective students, either directly or through a contractor or other third party, including contact concerning a prospective student’s potential enrollment or application for a grant, a loan, or work assistance under title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070 et seq. ) or participation in preadmission or advising activities, including soliciting an individual to provide contact information to a proprietary institution of higher education, including through websites established for that purpose and funds