,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #bcdi  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,june #ac1 #bjac ,mrs4
 ,negrete ,mc,leod 7= h]self & ,ms4     
,hahn7 introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,education & !
 ,work=ce  ,a ,,bill  ,to re/ore & ext5d
 ! grace p]iod ( ,f$]al ,direct ,/af=d  
,loans & ,f$]al ,direct ,unsubsidiz$    
,/af=d ,loans4  #a4 ,%ort title ,?is    
,act may be cit$ z ! ,get ,relief f     
,academic ,debt ,act ( #bjac or ! ,,grad
 ,act ( #bjac4  #b4 ,re/oration &       
ext5sion ( ! />t ( ! repaym5t p]iod (   
c]ta9 ,f$]al direct loans  7a7          
,re/oration ( int]e/ subsidy dur+ fir/  
#f-,mon? grace p]iod ,section           
#dbh7;a77#c77;,a77i77,i7 ( ! ,high]     
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajgh7;a77#c77;,a77i77,i77 is am5d$ by  
ins]t+ or1 = a ,f$]al ,direct ,/af=d    
,loan = :i* ! fir/ disbursem5t is made  
on or aft] ,july #a1 #bjac1 :i* accrues 
prior to ! beg9n+ ( ! repaym5t p]iod ( !
 loan 7except = int]e/ :i* accrues dur+ 

! la/ #f-mon?s prior to ! beg9n+ ( su*  
p]iod1 9 ! case ( a /ud5t :o makes an   
election "u section #c7;b77#b7 ( ! ,get 
,relief f ,academic ,debt ,act ( #bjac71
 be=e 1 or4  7b7 ,grace-,p]iod ext5sion 
7#a7 ,am5dm5t ,section #dbh7;b77#g7 ( ! 
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajgh7;b77#g77 is am5d$--     
7,a7 9 subp>agraph 7,a71 by ins]t+ or1 9
 ! case ( a /ud5t :o makes an election  
"u section #c7;b77#b7 ( ! ,get ,relief f
 ,academic ,debt ,act ( #bjac1 #ab mon?s
 aft] #f mon?s2 &  7,b7 9 subp>agraph   
7,d71 by ins]t+ or1 9 ! case ( a /ud5t  
:o makes an election "u section         
#c7;b77#b7 ( ! ,get ,relief f ,academic 
,debt ,act ( #bjac1 ! #ab-mon? p]iod    
aft] #f-mon? p]iod4  7#b7 ,election (   
ext5d$ grace p]iod = c]ta9 ,,fdsl &     
,,fdus ,loans ,! ,secret>y ( ,education 
%all provide an opportunity = ea* borr[]
 :o has a ,f$]al ,direct ,/af=d ,loan or
 ,f$]al ,direct ,unsubsidiz$ ,/af=d     
,loan = :i* ! fir/ disbursem5t is made  
on or aft] ,july #a1 #bjac1 to elect a  

#ab-mon? grace p]iod1 9 accordance )    
section #dbh7;b77#g7 ( ! ,high]         
,education ,act ( #aife1 z am5d$ by ?is 
subsection1 be=e beg9n+ repaym5t4 ,!    
,secret>y %all--  7,a7 notify ea* su*   
borr[] ( ! opportunity = su* an election
 n lat] ?an #de days be=e ! />t ( !     
borr[]'s repaym5t p]iod1 z det]m9$ "u   
section #dbh7;b77#g7 ( ! ,high]         
,education ,act ( #aife z 9 effect on ! 
day be=e ! date ( enactm5t ( ?is ,act2  
7,b7 advise ea* su* borr[] ( ! f9ancial 
consequ5ces ( elect+ su* #ab-mon? grace 
p]iod2 &  7,c7 n require su* a borr[] to
 accept a #ab-mon? grace p]iod 9        
accordance ) section #dbh7;b77#g7 ( !   
,high] ,education ,act ( #aife 7z am5d$ 
by ?is subsection71 unless ! borr[]     
specifically elects su* #ab-mon? grace  
p]iod n lat] ?an #ad days be=e ! />t ( !
 borr[]'s repaym5t p]iod1 z det]m9$ "u  
section #dbh7;b77#g7 ( ! ,high]         
,education ,act ( #aife z 9 effect on ! 
day be=e ! date ( enactm5t ( ?is ,act4