,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #cefj  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #bh1 #bjag,mr4  
,aguil> introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ,education & !
 ,work=ce  ,a ,,bill  ,to am5d ! ,high] 
,education ,act ( #aife to give borr[]s 
an option to ext5d ! grace p]iod prior  
to ! beg9n+ ( ! repaym5t p]iod1 & = o!r 
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,grace ,p]iod ,alleviation 
,act or ! ,,gpa ,act4  #b4 ,grace p]iod 
adju/m5ts ,section #dee ( ! ,high]      
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajhg;e7 is am5d$--  7#a7 9 subsection  
7b71 by add+ at ! end ! foll[+3  7#aa7  
,repaym5t ( int]e/ ,! ,secret>y1 ?r\gh a
 loan modification process1 %all pay to 
ea* borr[] :o receiv$ a ,f$]al ,direct  
,/af=d ,loan = :i* ! fir/ disbursem5t 0 
made dur+ ! p]iod betwe5 ,july #a1      
#bjab1 & ,july #a1 #bjad1 an am\nt equal
 to ! am\nt ( int]e/ t accru$ on su*    
loan prior to ! beg9n+ ( ! repaym5t     
p]iod4  2 &  7#b7 by add+ at ! end !    

foll[+3  7r7 ,election ( ext5d$ grace   
p]iod  7#a7 ,9 g5]al ,! ,secret>y %all  
provide an opportunity = ea* borr[] :o  
receives a ,f$]al ,direct ,/af=d ,loan  
or ,f$]al ,direct ,unsubsidiz$ ,/af=d   
,loan to elect a #ab-mon? grace p]iod   
be=e beg9n+ repaym5t on ! loan4 ,!      
,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]iod on ! loan2  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]iod1 unless !
 borr[] specifically elects su* #ab-mon?
 grace p]iod n lat] ?an #ad days be=e ! 
/>t ( ! borr[]'s repaym5t p]iod on !    
loan4  7#b7 ,application ( section      
#dbh7;b77#g7 ,) respect to ea* borr[] :o
 makes an election = a #ab-mon? grace   
p]iod "u p>agraph 7#a7 ( ?is subsection1
 section #dbh7;b77#g7 %all be appli$--  
7,a7 9 subp>agraph 7,a71 z if or1 9 !   
case ( a /ud5t :o makes an election "u  

section #dee7r77#a71 #ab mon?s 7 ins]t$ 
aft] #f mon?s2 &  7,b7 9 subp>agraph    
7,d71 z if or1 9 ! case ( a /ud5t :o    
makes an election "u section            
#dee7r77#a71 ! #ab-mon? p]iod 7 ins]t$  
aft] #f-mon? p]iod4  4