participating institution
(1) In general (A) If an institution of higher education returns to the Secretary any portion of the sums allocated to such institution under this section for any fiscal year, the Secretary shall reallocate 80 percent of such returned portions to participating institutions in an amount not to exceed such participating institution’s excess eligible amounts as determined under paragraph (2). (B) For the purpose of this subsection, the term “participating institution” means an institution of higher education that— (i) was a participant in the program assisted under this part in fiscal year 1999; and (ii) did not receive an allocation under subsection (a) in the fiscal year for which the reallocation determination is made.