,i  #aad? ,,congress  #b;d ,session  ,h4
 ,r4 #fddf  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,decemb] #f1 #bjaf,mr4
 ,pallone 7= himself1 ,mr4 ,coh51 ,ms4  
,moore1 ,mr4 ,payne1 & ,mrs4 ,watson    
,coleman7 introduc$ ! foll[+ bill2 :i* 0
 ref]r$ to ! ,committee on ,f9ancial    
,s]vices1 & 9 addition to ! ,committee  
on ,ways & ,means1 = a p]iod to be      
subsequ5tly det]m9$ by ! ,speak]1 9 ea* 
case = consid]ation ( su* provisions z  
fall )9 ! jurisdiction ( ! committee    
conc]n$  ,a ,,bill  ,to am5d ! ,tru? 9  
,l5d+ ,act to provide private education 
loan =giv5ess = c]ta9 borr[]s1 to       
require disclosures relat$ to private   
education loan default rates1 & = o!r   
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,/ud5t ,borr[] ,high]      
,education ,l5d+ ,protection ,act (     
#bjaf or ! ,/ud5t ,borr[] ,,help ,act ( 
#bjaf4  #b4 ,private education loan     
=giv5ess = deceas$ or disabl$ /ud5ts    
7a7 ,am5dm5ts to ,,tila ,section #adj ( 
! ,tru? 9 ,l5d+ ,act 7#ae ,u4,s4,c4     

#afej7 is am5d$ by add+ at ! end !      
foll[+ new subsection3  7g7 ,def]m5t or 
dis*>ge ( private education loan  7#a7  
,tempor>y ,disability ,a /ud5t borr[] ( 
a private education loan %all n be      
obligat$ to make paym5ts on ! loan1 &   
int]e/ %all n accrue on ! loan1 dur+ !  
p]iod 9 :i* ! /ud5t borr[] is det]m9$ to
 be "u a disability 7z def9$ 9 section  
#baf7;i7 or #bbc7;d7 ( ! ,social        
,security ,act 7#db ,u4,s4,c4           
#daf7;i7774  7#b7 ,dea? or total &      
p]man5t disability ,if a /ud5t borr[] ( 
a private education loan dies or becomes
 totally or p]man5tly disabl$ 7z det]m9$
 by ! ,secret>y ( ,education 9          
accordance ) section #dcg7;a77#a7 ( !   
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajhg7;a77#a7771 any out/&+   
balance on ! loan %all be deem$ to be   
dis*>g$1 & ! /ud5t borr[]1 any cosignor 
on ! loan1 or ! e/ate ( ei!r ! /ud5t    
borr[] or ! cosignor %all n be obligat$ 
to make any additional paym5ts on !     
loan4  4  7b7 ,exclusion f gross income 

,section #ajh7;f77#a7 ( ! ,int]nal      
,rev5ue ,code ( #aihf is am5d$-- 7#a7 by
 /rik+ ! p]iod at ! end & ins]t+ 1 or1  
7#b7 by /rik+ if su* dis*>ge 0 pursuant 
to a provision & ins]t+ ! foll[+3 if su*
 dis*>ge 0 pursuant to--  7,a7 a        
provision  1 &  7#c7 by add+ at ! end ! 
foll[+3  7,b7 section #adj7;g77#b7 ( !  
,tru? 9 ,l5d+ ,act4  4  #c4 ,requir$    
disclosures ( default rates = private   
education loans ,section #abh7;e7 ( !   
,tru? 9 ,l5d+ ,act 7#ae ,u4,s4,c4       
#afch7;e77 is am5d$--  7#a7 9 p>agraph  
7#a7-- 7,a7 9 subp>agraph 7,q71 by /rik+
 & at ! end2  7,b7 by r$esignat+        
subp>agraph 7,r7 z subp>agraph 7,s72 &  
7,c7 by ins]t+ aft] subp>agraph 7,q7 !  
foll[+ new subp>agraph3  7,r7 ! numb] ( 
private education loans (f]$ by !       
private educational l5d] & ! numb] &    
rate ( default on su* loans made by !   
l5d]2 &  2  7#b7 9 p>agraph 7#b7--  7,a7
 9 subp>agraph 7,o71 by /rik+ & at !    
end2  7,b7 by r$esignat+ subp>agraph    
7,p7 z subp>agraph 7,q72 &  7,c7 by     

ins]t+ aft] subp>agraph 7,o7 ! foll[+   
new subp>agraph3  7,p7 ! numb] ( private
 education loans (f]$ by ! private      
educational l5d] & ! numb] & rate (     
default on su* loans made by ! l5d]2 &  
2 &  7#c7 9 p>agraph 7#d71 by /rik+ 7,m7
 ?r\gh 7,p7 & ins]t+ 7,m7 ?r\gh 7,q74   
#d4 ,effective date2 applicability ,?is 
,act & ! am5dm5ts made by ?is ,act--    
7#a7 %all take effect on ! date t is #a 
ye> aft] ! date ( ! enactm5t ( ?is ,act2
 &  7#b7 %all only apply to private     
education loans 7z def9$ 9 section      
#adj7;a7 ( ! ,tru? 9 ,l5d+ ,act 7#ae    
,u4,s4,c4 #afej7;a777 ent]$ into on or  
aft] ! effective date describ$ 9        
p>agraph 7#a74