,i #aadth ,,congress #b;d ,session ,h4 ,r4 #fbci ,,in ,,the ,,house ,,of ,,representatives ,september #bh1 #bjaf,mr4 ,de,fazio introduced the following bill2 which was referred to the ,committee on ,education and the ,workforce1 and in addition to the ,committee on the ,judiciary1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to amend the ,higher ,education ,act of #aife to improve ,federal ,pell ,grants and loans1 and for other purposes4 #a4 ,short title2 table of contents 7a7 ,short title ,this ,act may be cited as the ,helping ,improve ,grants for ,higher ,education ,repayment of ,expensive ,debt ,act or the ,,higher ,,ed ,act4 7b7 ,table of contents ,the table of contents of this ,act is as follows3 ,sec4 #a4 ,short title2 table of contents4 ,sec4 #b4 ,federal ,pell ,grants4 ,sec4 #c4 ,reinstatement of authority to make ,federal ,direct ,stafford ,loans to graduate and professional students4 ,sec4 #d4 ,discharge student loans in bankruptcy4 ,sec4 #e4 ,refinancing programs4 ,sec4 #f4 ,loan forgiveness for adjunct faculty4 ,sec4 #g4 ,revised income-driven repayment plans for new borrowers on or after ,july #a1 #bjag4 #b4 ,federal ,pell ,grants 7a7 ,increase in the maximum amount of a ,federal pell grant ,section #dja7;b77#g77;,c7 of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajgj;a7b77#g77;,c77 is amended by striking clauses 7ii7 and 7iii7 and inserting the following3 7ii7 ,award year #bjag-bjah ,for award year #bjag-bjah1 the amount determined under this subparagraph for purposes of subparagraph 7,b77iii7 shall be increased to #i1daj4 7iii7 ,subsequent award years ,for award year #bjah-bjai and each subsequent award year1 the amount determined under this subparagraph for purposes of subparagraph 7,b77iii7 shall be equal to-- 7,i7 the amount determined under this subparagraph for the preceding award year2 increased by 7,,ii7 a percentage equal to the annual adjustment percentage for the award year for which the amount under this subparagraph is being determined2 and 7,,iii7 rounded to the nearest #e4 4 7b7 ,year-,round ,federal ,pell ,grant ,students 7#a7 ,in general ,section #dja7;b7 of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajgj;a7b77 is amended by adding at the end the following3 7#h7 ,year-round ,federal ,pell ,grant ,students 7,a7 ,in general ,notwithstanding any other provision of this subsection1 the ,secretary shall award1 to an eligible student who meets the requirements in subparagraph 7,b7 who has received a ,federal ,pell ,grant for an award year and is enrolled in a program of study for one or more additional payment periods during the same award year that are not otherwise covered by the student's ,federal ,pell ,grant1 an additional ,federal ,pell ,grant for the additional payment periods4 7,b7 ,eligibility ,in order to be eligible to receive the additional ,federal ,pell ,grant for an award year that is described in subparagraph 7,a71 a student shall1 in addition to meeting all eligibility requirements for the receipt of a ,federal ,pell ,grant-- 7i7 be enrolled at least on a part-time basis in an institution of higher education2 and 7ii7 have successfully completed at least a full-time course load 7as determined by the institution7 prior to receiving an additional ,federal ,pell ,grant award as described in subparagraph 7,a74 7,c7 ,amounts ,in the case of a student receiving more than one ,federal ,pell ,grant in a single award year under subparagraph 7,a71 the total amount of the ,federal ,pell ,grants awarded to such student for the award year shall not exceed an amount equal to #aej percent of the total maximum ,federal ,pell ,grant for such award year calculated in accordance with paragraph 7#g77;,c77iv77,,ii74 7,d7 ,inclusion in duration limit ,any period of study covered by a ,federal ,pell ,grant awarded under subparagraph 7,a7 shall be included in determining a student's duration limit under subsection 7c77#e74 7#i7 ,crossover period ,in any case where an eligible student is receiving a ,federal ,pell ,grant for a payment period that spans #b award years1 the ,secretary shall allow the eligible institution in which the student is enrolled to determine the award year to which the additional period shall be assigned4 4 7#b7 ,effective date ,the amendment made by paragraph 7#a7 shall take effect on ,july #a1 #bjag4 #c4 ,reinstatement of authority to make ,federal ,direct ,stafford ,loans to graduate and professional students 7a7 ,amendments ,section #dee7;a77#c7 of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhg;e7a77#c77 is amended-- 7#a7 in the paragraph heading1 by inserting ,temporary before ,termination2 and 7#b7 in subparagraph 7,a71 in the matter preceding clause 7i71 by inserting 1 and ending on or before ,june #cj1 #bjaf after #bjab4 7b7 ,inapplicability of rulemaking requirements ,sections #dhb7;c7 and #dib of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhi7;c72 #ajih;a7 shall not apply to the regulations under this section4 #d4 ,discharge student loans in bankruptcy 7a7 ,exception to discharge ,section #ebc7;a7 of title #aa1 ,united ,states ,code1 is amended-- 7#a7 by striking paragraph 7#h71 and 7#b7 by redesignating paragraphs 7#i7 through 7#ad;,b7 as paragraphs 7#h7 through 7#ad;,a71 respectively4 7b7 ,conforming amendments ,title #aa1 ,united ,states ,code1 is amended-- 7#a7 in section #gjd7;c77#a77;,c77iv77,i7 by striking 7#ad;,a7 and inserting 7#ad71 7#b7 in section #aajf7;c77#a77;,c77iv77,i7 by striking 7#ad;,a7 and inserting 7#ad71 7#c7 in section #abjb7;c77#a77;,c77iv77,i7 by striking 7#ad;,a7 and inserting 7#ad71 and 7#d7 in section #acbh7;a77#b7 by striking 7#h71 or 7#i7 and inserting or 7#h74 7c7 ,effective date2 application of amendments 7#a7 ,effective date ,except as provided in subsection 7b71 this section and the amendments made by this section shall take effect on the date of the enactment of this ,act4 7#b7 ,application of amendments ,the amendments made by this section shall apply only with respect to cases commenced under title #aa of the ,united ,states ,code on or after the date of the enactment of this ,act4 #e4 ,refinancing programs 7a7 ,program authority ,section #dea7;a7 of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhg;a7a77 is amended-- 7#a7 by striking and 7#b7 and inserting 7#b72 and 7#b7 by inserting 2 and 7#c7 to make loans under section #dfj;,a and section #dfj;,b after section #dei;,a4 7b7 ,refinancing ,program ,part ,d of title ,,iv of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhg;a et seq47 is amended by adding at the end the following3 #dfj;,a4 ,refinancing ,,ffel and ,federal ,direct ,loans 7a7 ,in general ,beginning not later than #ahj days after the date of enactment of the ,helping ,improve ,grants for ,higher ,education ,repayment of ,expensive ,debt ,act1 the ,secretary shall establish a program under which the ,secretary1 upon the receipt of an application from a qualified borrower1 makes a loan under this part1 in accordance with the provisions of this section1 in order to permit the borrower to obtain the interest rate provided under subsection 7c74 7b7 ,refinancing ,direct ,loans 7#a7 ,federal ,direct ,loans ,upon application of a qualified borrower1 the ,secretary shall repay a ,federal ,direct ,stafford ,loan1 a ,federal ,direct ,unsubsidized ,stafford ,loan1 a ,federal ,direct ,,plus ,loan1 or a ,federal ,direct ,consolidation ,loan of the qualified borrower1 for which the first disbursement was made1 or the application for the consolidation loan was received1 before ,july #a1 #bjaf1 with the proceeds of a refinanced ,federal ,direct ,stafford ,loan1 a ,federal ,direct ,unsubsidized ,stafford ,loan1 a ,federal ,direct ,,plus ,loan1 or a ,federal ,direct ,consolidation ,loan1 respectively1 issued to the borrower in an amount equal to the sum of the unpaid principal1 accrued unpaid interest1 and late charges of the original loan4 7#b7 ,refinancing ,,ffel program loans as refinanced ,federal ,direct ,loans ,upon application of a qualified borrower for any loan that was made1 insured1 or guaranteed under part ,b and for which the first disbursement was made1 or the application for the consolidation loan was received1 before ,july #a1 #bjaj1 the ,secretary shall make a loan under this part1 in an amount equal to the sum of the unpaid principal1 accrued unpaid interest1 and late charges of the original loan to the borrower in accordance with the following3 7,a7 ,the ,secretary shall pay the proceeds of such loan to the eligible lender of the loan made1 insured1 or guaranteed under part ,b1 in order to discharge the borrower from any remaining obligation to the lender with respect to the original loan4 7,b7 ,a loan made under this section that was originally-- 7i7 a loan originally made1 insured1 or guaranteed under section #dbh shall be a ,federal ,direct ,stafford ,loan2 7ii7 a loan originally made1 insured1 or guaranteed under section #dbh;,b shall be a ,federal ,direct ,,plus ,loan2 7iii7 a loan originally made1 insured1 or guaranteed under section #dbh;,h shall be a ,federal ,direct ,unsubsidized ,stafford ,loan2 and 7iv7 a loan originally made1 insured1 or guaranteed under section #dbh;,c shall be a ,federal ,direct ,consolidation ,loan4 7,c7 ,the interest rate for each loan made by the ,secretary under this paragraph shall be the rate provided under subsection 7c74 7c7 ,interest rates 7#a7 ,in general ,the interest rate for the refinanced ,federal ,direct ,stafford ,loans1 ,federal ,direct ,unsubsidized ,stafford ,loans1 ,federal ,direct ,,plus ,loans1 and ,federal ,direct ,consolidation ,loans1 shall be a rate equal to-- 7,a7 in any case where the original loan was a loan under section #dbh or #dbh;,h1 a ,federal ,direct ,stafford loan1 or a ,federal ,direct ,unsubsidized ,stafford ,loan1 that was issued to an undergraduate student1 a rate equal to the rate for ,federal ,direct ,stafford ,loans and ,federal ,direct ,unsubsidized ,stafford ,loans issued to undergraduate students for the #ab-month period beginning on ,july #a1 #bjaf1 and ending on ,june #cj1 #bjag2 7,b7 in any case where the original loan was a loan under section #dbh or #dbh;,h1 a ,federal ,direct ,stafford ,loan1 or a ,federal ,direct ,unsubsidized ,stafford ,loan1 that was issued to a graduate or professional student1 a rate equal to the rate for ,federal ,direct ,unsubsidized ,stafford ,loans issued to graduate or professional students for the #ab-month period beginning on ,july #a1 #bjaf1 and ending on ,june #cj1 #bjag2 7,c7 in any case where the original loan was a loan under section #dbh;,b or a ,federal ,direct ,,plus ,loan1 a rate equal to the rate for ,federal ,direct ,,plus ,loans for the #ab-month period beginning on ,july #a1 #bjaf1 and ending on ,june #cj1 #bjag2 and 7,d7 in any case where the original loan was a loan under section #dbh;,c or a ,federal ,direct ,consolidation ,loan1 a rate calculated in accordance with paragraph 7#b74 7#b7 ,interest ,rates for ,consolidation ,loans 7,a7 ,method of calculation ,in order to determine the interest rate for any refinanced ,federal ,direct ,consolidation ,loan under paragraph 7#a77;,d71 the ,secretary shall-- 7i7 determine each of the component loans that were originally consolidated in the loan under section #dbh;,c or the ,federal ,direct ,consolidation ,loan1 and calculate the proportion of the unpaid principal balance of the loan under section #dbh;,c or the ,federal ,direct ,consolidation ,loan that each component loan represents2 7ii7 use the proportions determined in accordance with clause 7i7 and the interest rate applicable for each component loan1 as determined under subparagraph 7,b71 to calculate the weighted average of the interest rates on the loans consolidated into the loan under section #dbh;,c or the ,federal ,direct ,consolidation ,loan2 and 7iii7 apply the weighted average calculated under clause 7ii7 as the interest rate for the refinanced ,federal ,direct ,consolidation ,loan4 7,b7 ,interest rates for component loans ,the interest rates for the component loans of a loan made under section #dbh;,c or a ,federal ,direct ,consolidation ,loan shall be the following3 7i7 ,the interest rate for any loan under section #dbh or #dbh;,h1 ,federal ,direct ,stafford ,loan1 or ,federal ,direct ,unsubsidized ,stafford ,loan issued to an undergraduate student shall be a rate equal to the lesser of-- 7,i7 the rate for ,federal ,direct ,stafford ,loans and ,federal ,direct ,unsubsidized ,stafford ,loans issued to undergraduate students for the #ab-month period beginning on ,july #a1 #bjaf1 and ending on ,june #cj1 #bjag2 or 7,,ii7 the original interest rate of the component loan4 7ii7 ,the interest rate for any loan under section #dbh or #dbh;,h1 ,federal ,direct ,stafford ,loan1 or ,federal ,direct ,unsubsidized ,stafford ,loan issued to a graduate or professional student shall be a rate equal to the lesser of-- 7,i7 the rate for ,federal ,direct ,unsubsidized ,stafford ,loans issued to graduate or professional students for the #ab-month period beginning on ,july #a1 #bjaf1 and ending on ,june #cj1 #bjag2 or 7,,ii7 the original interest rate of the component loan4 7iii7 ,the interest rate for any loan under section #dbh;,b or ,federal ,direct ,,plus ,loan shall be a rate equal to the lesser of-- 7,i7 the rate for ,federal ,direct ,,plus ,loans for the #ab-month period beginning on ,july #a1 #bjaf1 and ending on ,june #cj1 #bjag2 or 7,,ii7 the original interest rate of the component loan4 7iv7 ,the interest rate for any component loan that is a loan under section #dbh;,c or a ,federal ,direct ,consolidation ,loan shall be the weighted average of the interest rates that would apply under this subparagraph for each loan comprising the component consolidation loan4 7v7 ,the interest rate for any eligible loan that is a component of a loan made under section #dbh;,c or a ,federal ,direct ,consolidation ,loan and is not described in clauses 7i7 through 7iv7 shall be the interest rate on the original component loan4 7#c7 ,fixed ,rate ,the applicable rate of interest determined under paragraph 7#a7 for a refinanced loan under this section shall be fixed for the period of the loan4 7d7 ,terms and conditions of loans 7#a7 ,in general ,a loan that is refinanced under this section shall have the same terms and conditions as the original loan1 except as otherwise provided in this section4 7#b7 ,no automatic extension of repayment period ,refinancing a loan under this section shall not result in the extension of the duration of the repayment period of the loan1 and the borrower shall retain the same repayment term that was in effect on the original loan4 ,nothing in this paragraph shall be construed to prevent a borrower from electing a different repayment plan at any time in accordance with section #dee7;d77#c74 7e7 ,definition of qualified borrower 7#a7 ,in ,general ,for purposes of this section1 the term qualified borrower means a borrower-- 7,a7 of a loan under this part or part ,b for which the first disbursement was made1 or the application for a consolidation loan was received1 before ,july #a1 #bjaf2 and 7,b7 who meets the eligibility requirements based on income or debt-to-income ratio established by the ,secretary4 7#b7 ,income requirements ,not later than #ahj days after the date of enactment of the ,helping ,improve ,grants for ,higher ,education ,repayment of ,expensive ,debt ,act1 the ,secretary shall establish eligibility requirements based on income or debt-to-income ratio that take into consideration providing access to refinancing under this section for borrowers with the greatest financial need4 7f7 ,notification to borrowers ,the ,secretary1 in coordination with the ,director of the ,bureau of ,consumer ,financial ,protection1 shall undertake a campaign to alert borrowers of loans that are eligible for refinancing under this section that the borrowers are eligible to apply for such refinancing4 ,the campaign shall include the following activities3 7#a7 ,developing consumer information materials about the availability of ,federal student loan refinancing4 7#b7 ,requiring servicers of loans under this part or part ,b to provide such consumer information to borrowers in a manner determined appropriate by the ,secretary1 in consultation with the ,director of the ,bureau of ,consumer ,financial ,protection4 #dfj;,b4 ,federal ,direct ,refinanced ,private ,loan program 7a7 ,definitions ,in this section3 7#a7 ,eligible private education loan ,the term eligible private education loan means a private education loan1 as defined in section #adj7;a7 of the ,truth in ,lending ,act 7#ae ,u4,s4,c4 #afej7;a771 that-- 7,a7 was disbursed to the borrower before ,july #a1 #bjaf2 and 7,b7 was for the borrower's own postsecondary educational expenses for an eligible program at an institution of higher education participating in the loan program under this part1 as of the date that the loan was disbursed4 7#b7 ,federal ,direct ,refinanced ,private ,loan ,the term ,federal ,direct ,refinanced ,private ,loan means a loan issued under subsection 7b77#a74 7#c7 ,private educational lender ,the term private educational lender has the meaning given the term in section #adj7;a7 of the ,truth in ,lending ,act 7#ae ,u4,s4,c4 #afej7;a774 7#d7 ,qualified borrower ,the term qualified borrower means an individual who-- 7,a7 has an eligible private education loan2 7,b7 has been current on payments on the eligible private education loan for the #f months prior to the date of the qualified borrower's application for refinancing under this section1 and is in good standing on the loan at the time of such application2 7,c7 is not in default on the eligible private education loan or on any loan made1 insured1 or guaranteed under this part or part ,b or ,e2 and 7,d7 meets the eligibility requirements described in subsection 7b77#b74 7b7 ,program authorized 7#a7 ,in general ,the ,secretary1 in consultation with the ,secretary of the ,treasury1 shall carry out a program under which the ,secretary1 upon application by a qualified borrower who has an eligible private education loan1 shall issue such borrower a loan under this part in accordance with the following3 7,a7 ,the loan issued under this program shall be in an amount equal to the sum of the unpaid principal1 accrued unpaid interest1 and late charges of the private education loan4 7,b7 ,the ,secretary shall pay the proceeds of the loan issued under this program to the private educational lender of the private education loan1 in order to discharge the qualified borrower from any remaining obligation to the lender with respect to the original loan4 7,c7 ,the ,secretary shall require that the qualified borrower undergo loan counseling that provides all of the information and counseling required under clauses 7i7 through 7viii7 of section #dhe7;b77#a77;,a7 before the loan is refinanced in accordance with this section1 and before the proceeds of such loan are paid to the private educational lender4 7,d7 ,the ,secretary shall issue the loan as a ,federal ,direct ,refinanced ,private ,loan1 which shall have the same terms1 conditions1 and benefits as a ,federal ,direct ,unsubsidized ,stafford ,loan1 except as otherwise provided in this section4 7#b7 ,borrower eligibility ,not later than #ahj days after the date of enactment of the ,helping ,improve ,grants for ,higher ,education ,repayment of ,expensive ,debt ,act1 the ,secretary1 in consultation with the ,secretary of the ,treasury and the ,director of the ,bureau of ,consumer ,financial ,protection1 shall establish eligibility requirements-- 7,a7 based on income or debt-to-income ratio that take into consideration providing access to refinancing under this section for borrowers with the greatest financial need2 7,b7 to ensure eligibility only for borrowers in good standing2 7,c7 to minimize inequities between ,federal ,direct ,refinanced ,private ,loans and other ,federal student loans2 7,d7 to preclude windfall profits for private educational lenders2 and 7,e7 to ensure full access to the program authorized in this subsection for borrowers with private loans who otherwise meet the criteria established in accordance with subparagraphs 7,a7 and 7,b74 7c7 ,interest rate 7#a7 ,in general ,the interest rate for a ,federal ,direct ,refinanced ,private ,loan is-- 7,a7 in the case of a ,federal ,direct ,refinanced ,private ,loan for a private education loan originally issued for undergraduate postsecondary educational expenses1 a rate equal to the rate for ,federal ,direct ,stafford ,loans and ,federal ,direct ,unsubsidized ,stafford ,loans issued to undergraduate students for the #ab-month period beginning on ,july #a1 #bjaf1 and ending on ,june #cj1 #bjag2 and 7,b7 in the case of a ,federal ,direct ,refinanced ,private ,loan for a private education loan originally issued for graduate or professional degree postsecondary educational expenses1 a rate equal to the rate for ,federal ,direct ,unsubsidized ,stafford ,loans issued to graduate or professional students for the #ab-month period beginning on ,july #a1 #bjaf1 and ending on ,june #cj1 #bjag4 7#b7 ,combined undergraduate and graduate study loans ,if a ,federal ,direct ,refinanced ,private ,loan is for a private education loan originally issued for both undergraduate and graduate or professional postsecondary educational expenses1 the interest rate shall be a rate equal to the rate for ,federal ,direct ,,plus ,loans for the #ab-month period beginning on ,july #a1 #bjaf1 and ending on ,june #cj1 #bjag4 7#c7 ,fixed ,rate ,the applicable rate of interest determined under this subsection for a ,federal ,direct ,refinanced ,private ,loan shall be fixed for the period of the loan4 7d7 ,no inclusion in aggregate limits ,the amount of a ,federal ,direct ,refinanced ,private ,loan1 or a ,federal ,direct ,consolidated ,loan to the extent such loan was used to repay a ,federal ,direct ,refinanced ,private ,loan1 shall not be included in calculating a borrower's annual or aggregate loan limits under section #dbh or #dbh;,h4 7e7 ,no eligibility for service-,related repayment ,notwithstanding sections #dbh,k7a77#b77;,a71 #dbh,l7b77#b71 #dee7m77#c77;,a71 and #dfj7;b71 a ,federal ,direct ,refinanced ,private ,loan1 or any ,federal ,direct ,consolidation ,loan to the extent such loan was used to repay a ,federal ,direct ,refinanced ,private ,loan1 shall not be eligible for any loan repayment or loan forgiveness program under section #dbh,k1 #dbh,l1 or #dfj or for the repayment plan for public service employees under section #dee7m74 7f7 ,private educational lender reporting requirement 7#a7 ,reporting required ,not later than #ahj days after the date of enactment of the ,helping ,improve ,grants for ,higher ,education ,repayment of ,expensive ,debt ,act1 the ,secretary1 in consultation with the ,secretary of the ,treasury and the ,director of the ,bureau of ,consumer ,financial ,protection1 shall establish a requirement that private educational lenders report the data described in paragraph 7#b7 to the ,secretary1 to ,congress1 to the ,secretary of the ,treasury1 and to the ,director of the ,bureau of ,consumer ,financial ,protection1 in order to allow for an assessment of the private education loan market4 7#b7 ,contents of reporting ,the data that private educational lenders shall report in accordance with paragraph 7#a7 shall include each of the following about private education loans 7as defined in section #adj7;a7 of the ,truth in ,lending ,act 7#ae ,u4,s4,c4 #afej7;a7773 7,a7 ,the total amount of private education loan debt the lender holds4 7,b7 ,the total number of private education loan borrowers the lender serves4 7,c7 ,the average interest rate on the outstanding private education loan debt held by the lender4 7,d7 ,the proportion of private education loan borrowers who are in default on a loan held by the lender4 7,e7 ,the proportion of the outstanding private education loan volume held by the lender that is in default4 7,f7 ,the proportions of outstanding private education loan borrowers who are #cj1 #fj1 and #ij days delinquent4 7,g7 ,the proportions of outstanding private education loan volume that is #cj1 #fj1 and #ij days delinquent4 7g7 ,notification to borrowers ,the ,secretary1 in coordination with the ,secretary of the ,treasury and the ,director of the ,bureau of ,consumer ,financial ,protection1 shall undertake a campaign to alert borrowers about the availability of private student loan refinancing under this section4 4 7c7 ,amendments to public service repayment plan provisions ,section #dee7m7 of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhg;e7m77 is amended-- 7#a7 by redesignating paragraphs 7#c7 and 7#d7 as paragraphs 7#d7 and 7#e71 respectively2 7#b7 by inserting after paragraph 7#b7 the following3 7#c7 ,special rules for section #dfj;,a loans 7,a7 ,refinanced ,federal ,direct loans ,notwithstanding paragraph 7#a71 in determining the number of monthly payments that meet the requirements of such paragraph for an eligible ,federal ,direct ,loan refinanced under section #dfj;,a that was originally a loan under this part1 the ,secretary shall include all monthly payments made on the original loan that meet the requirements of such paragraph4 7,b7 ,refinanced ,,ffel loans ,in the case of an eligible ,federal ,direct ,loan refinanced under section #dfj;,a that was originally a loan under part ,b1 only monthly payments made after the date on which the loan was refinanced may be included for purposes of paragraph 7#a74 2 and 7#c7 in paragraph 7#d77;,a7 7as redesignated by paragraph 7#a771 by inserting 7including any ,federal ,direct ,stafford ,loan1 ,federal ,direct ,,plus ,loan1 ,federal ,direct ,unsubsidized ,stafford ,loan1 or ,federal ,direct ,consolidation ,loan refinanced under section #dfj;,a7 before the period at the end4 7d7 ,income-,based repayment ,section #dic;,c of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajih;e7 is amended by adding at the end the following3 7f7 ,special rule for refinanced loans 7#a7 ,refinanced ,federal ,direct and ,,ffel loans ,in calculating the period of time during which a borrower of a loan that is refinanced under section #dfj;,a has made monthly payments for purposes of subsection 7b77#g71 the ,secretary shall deem the period to include all monthly payments made for the original loan1 and all monthly payments made for the refinanced loan1 that otherwise meet the requirements of this section4 7#b7 ,federal ,direct ,refinanced ,private ,loans ,in calculating the period of time during which a borrower of a ,federal ,direct ,refinanced ,private ,loan under section #dfj;,b has made monthly payments for purposes of subsection 7b77#g71 the ,secretary shall include only payments-- 7,a7 that are made after the date of the issuance of the ,federal ,direct ,refinanced ,private ,loan2 and 7,b7 that otherwise meet the requirements of this section4 4 #f4 ,loan forgiveness for adjunct faculty ,section #dee7m77#c77;,b77ii7 of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhg;e7m77#c77;,b77ii77 is amended-- 7#a7 by striking teaching as and inserting the following3 teaching-- 7,i7 as 2 7#b7 by striking 1 foreign language faculty1 and part-time faculty at community colleges71 as determined by the ,secretary4 and inserting and foreign language faculty71 as determined by the ,secretary2 or2 and 7#c7 by adding at the end the following3 7,,ii7 as a part-time faculty member or instructor who-- 7aa7 teaches not less than #a course at an institution of higher education 7as defined in section #aja7;a771 a postsecondary vocational institution 7as defined in section #ajb7;c771 or a ,tribal ,college or ,university 7as defined in section #caf7;b772 and 7bb7 is not employed on a full-time basis by any other employer4 4 #g4 ,revised income-driven repayment plans for new borrowers on or after ,july #a1 #bjag 7a7 ,income-,contingent repayment ,section #dee of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhg;e7 is amended-- 7#a7 in subsection 7d77#a77;,d71 by adding at the end before the semicolon the following3 1 and such plan shall meet the requirements of subsection 7e77#h7 with respect to any loan made under this part to a new borrower on or after ,july #a1 #bjag2 and 7#b7 in subsection 7e71 by adding at the end the following3 7#h7 ,special terms for new borrowers on or after ,july #a1 #bjag ,with respect to any loan made under this part to a new borrower on or after ,july #a1 #bjag1 and eligible to be repaid pursuant to income contingent repayment1 such borrower may repay such loan pursuant to an income contingent repayment plan under the following conditions3 7,a7 ,notwithstanding any partial hardship requirement for the income contingent repayment plan-- 7i7 during any period during which the borrower's 7and the borrower's spouse1 if applicable7 adjusted gross income is equal to or less than #bbe percent of the poverty line applicable to the borrower's family size as determined under section #fgc7b7 of the ,community ,services ,block ,grant ,act 7#db ,u4,s4,c4 #iijb7b771 the borrower's aggregate monthly payment for all such loans shall be equal to #j2 and 7ii7 during any period during which the borrower's 7and the borrower's spouse1 if applicable7 adjusted gross income exceeds #bbe percent of such poverty line1 the borrower's aggregate monthly payment for all such loans shall be determined in accordance with the terms and conditions1 and borrower benefits1 of such plan4 7,b7 ,the interest on any such loan shall not accrue1 or if accrued1 shall be paid by the ,secretary for the following periods3 7i7 ,the period described in subparagraph 7,a77i74 7ii7 ,the #f-month period after the date the borrower ceases to carry at least one-half the normal full-time academic workload at an institution of higher education1 as determined by the institution1 and during which the borrower is not earning any income4 4 7b7 ,income-,based repayment ,section #dic;,c7b7 of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajih;e7b77 is amended-- 7#a7 in paragraph 7#a7-- 7,a7 by striking 7#a7 a borrower and inserting the following3 7#a7 7,a7 a borrower 2 7,b7 by adding or at the end of subparagraph 7,a72 and 7,c7 by adding at the end the following3 7,b7 with respect to any loan made under part ,d 7other than an excepted ,,plus loan or excepted consolidation loan7 to a new borrower on or after ,july #a1 #bjag1 such borrower may elect-- 7i7 during any period during which the borrower's 7and the borrower's spouse1 if applicable7 adjusted gross income is equal to or less than #bbe percent of the poverty line applicable to the borrower's family size as determined under section #fgc7b7 of the ,community ,services ,block ,grant ,act 7#db ,u4,s4,c4 #iijb7b771 to have the borrower's aggregate monthly payment for all such loans equal to #j2 and 7ii7 during any period during which the borrower's 7and the borrower's spouse1 if applicable7 adjusted gross income exceeds #bbe percent of such poverty line1 to have the borrower's aggregate monthly payment for all such loans not exceed1 the lesser of-- 7,i7 the result described in subsection 7a77#c77;,b7 divided by #ab2 or 7,,ii7 the monthly amount calculated under section #dee7;d77#a77;,a71 based on a #aj-year repayment period1 when the borrower first made the election described in this subsection2 2 and 7#b7 in paragraph 7#c7-- 7,a7 at the end of subparagraph 7,a71 by striking and2 7,b7 by adding and at the end of subparagraph 7,b72 and 7,c7 by adding at the end the following3 7,c7 shall1 on any loan for which payments may be made under paragraph 7#a77;,b71 be paid1 or be treated as if no interest has accrued1 by the ,secretary-- 7i7 for any period described in paragraph 7#a77;,b77i72 and 7ii7 for the #f-month period after the date the borrower ceases to carry at least one-half the normal full-time academic workload at an institution of higher education1 as determined by the institution1 and during which the borrower is not earning any income2 4