,i  #aad? ,,congress  #a/ ,session  ,h4 
,r4 #fdi  ,,9 ,,! ,,h\se ,,(            
,,repres5tatives  ,febru>y #b1 #bjae    
,mr4 ,pocan 7= himself1 ,mr4 ,l[5?al1   
,ms4 ,s*ak[sky1 ,mr4 ,c>twright1 ,mr4   
,s*rad]1 ,ms4 ,wilson ( ,florida1 ,ms4  
,*u ( ,cali=nia1 ,mr4 ,ellison1 ,mr4    
,k9d1 ,mr4 ,coh51 & ,ms4 ,br[nley (     
,cali=nia7 introduc$ ! foll[+ bill2 :i* 
0 ref]r$ to ! ,committee on ,education &
 ! ,work=ce  ,a ,,bill  ,to au?orize    
borr[]s ( loans "u ! ,william ,d4 ,=d   
,f$]al ,direct ,loan ,program to modify 
! int]e/ rate ( su* loans to be equal to
 ! int]e/ rate = su* loans at ! "t (    
modification4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,/ud5t ,loan ,ref9anc+ 
,act4  #b4 ,borr[] modification ( int]e/
 rates "u ! ,william ,d4 ,=d ,f$]al     
,direct ,loan ,program ,section #dee7;b7
 ( ! ,high] ,education ,act ( #aife 7#bj
 ,u4,s4,c4 #ajhg;e7b77 is am5d$ by add+ 
at ! end ! foll[+ new p>agraph3  7#aa7  
,borr[] modification ( int]e/ rate  7,a7
 ,modification ,not)/&+ ! prec$+        

p>agraphs ( ?is subsection1 ! borr[] ( a
 ,f$]al ,direct ,/af=d ,loan1 a ,f$]al  
,direct ,unsubsidiz$ ,/af=d ,loan1 a    
,f$]al ,direct ,,plus ,loan1 or a ,f$]al
 ,direct ,consolidation ,loan may elect 
to modify ! int]e/ rate ( ! loan to be  
equal to ! int]e/ rate t w\ld be        
applicable to su* loan if su* loan 7    
fir/ disburs$ 7or 9 ! case ( a ,f$]al   
,direct ,consolidation ,loan1 fir/      
appli$ =7 on ! date on :i* su* borr[]   
elects to modify ! int]e/ rate ( su*    
loan4  7,b7 ,fix$ rate ,except z provid$
 9 subp>agraph 7,c71 an int]e/ rate     
elect$ "u subp>agraph 7,a7 = a loan %all
 be fix$ = ! life ( ! loan4  7,c7       
,cont9u+ au?ority to modify ,a borr[]   
may elect to modify ! int]e/ rate ( a   
loan 9 accordance ) subp>agraph 7,a7 at 
any "t dur+ ! life ( ! loan4  4