,,ii  #aae? ,,congress  #b;d ,session   
,s4 #cbjg  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #ab1 #bjah,mr4   
,nelson introduc$ ! foll[+ bill2 :i* 0  
read twice & ref]r$ to ! ,committee on  
,heal?1 ,education1 ,labor1 & ,p5sions  
,a ,,bill  ,to am5d ! ,high] ,education 
,act ( #aife to all[ = ! def]m5t ( c]ta9
 /ud5t loans dur+ a p]iod 9 :i* a borr[]
 is receiv+ treatm5t = canc]4  #a4 ,%ort
 title ,?is ,act may be cit$ z !        
,def]m5t = ,active ,canc] ,treatm5t ,act
 ( #bjah4  #b4 ,/ud5t loan def]m5t =    
borr[]s receiv+ canc] treatm5t  7a7     
,direct ,loans ,section #dee7;f7 ( !    
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajhg;e7f77 is am5d$--  7#a7  
by r$esignat+ p>agraphs 7#c7 & 7#d7 z   
p>agraphs 7#d7 & 7#e71 respectively2 &  
7#b7 by ins]t+ aft] p>agraph 7#b7 !     
foll[+3  7#c7 ,def]m5t = borr[]s receiv+
 canc] treatm5t  7,a7 ,effect on        
pr9cipal & int]e/ ,a borr[] ( a loan    
made "u ?is "p :o meets ! requirem5ts ( 
subp>agraph 7,b7 %all be eligible = a   

def]m5t1 dur+ :i* p]iodic in/allm5ts (  
pr9cipal ne$ n be paid1 & int]e/ %all n 
accrue4  7,b7 ,eligibility ,a borr[] ( a
 loan made "u ?is "p %all be eligible = 
a def]m5t dur+-- 7i7 any p]iod 9 :i* su*
 borr[] is receiv+ treatm5t = canc]2 &  
7ii7 ! #f mon?s aft] su* p]iod4  7,c7   
,applicability ,?is p>agraph %all apply 
) respect to loans--  7i7 made on or    
aft] ! date ( ! enactm5t ( ?is p>agraph2
 or  7ii7 9 repaym5t on ! date ( !      
enactm5t ( ?is p>agraph4  4  7b7 ,t]ms (
 f$]ally insur$ /ud5t loans ,section    
#dbg7;a77#b77;,c7 ( ! ,high] ,education 
,act ( #aife 7#bj ,u4,s4,c4             
#ajgg7;a77#b77;,c77 is am5d$-- 7#a7 9   
clause 7ii71 by /rik+ 2 or & ins]t+ a   
semicolon2  7#b7 9 clause 7iii71 by     
ins]t+ or aft] ! semicolon2 &  7#c7 by  
ins]t+ aft] clause 7iii7 ! foll[+3  7iv7
 9 :i* ! borr[] is receiv+ treatm5t =   
canc] & ! #f mon?s aft] su* p]iod2  4   
7c7 ,,ffel program ,section             
#dbh7;b77#a77,m7 ( ! ,high] ,education  
,act ( #aife 7#bj ,u4,s4,c4             

#ajgh7;b77#a77,m77 is am5d$--  7#a7 9   
clause 7iii71 by /rik+ or 7,,ii72 or &  
ins]t+ a or 7,,ii722  7#b7 9 clause     
7iv71 by ins]t+ or aft] ! semicolon2 &  
7#c7 by add+ at ! end ! foll[+3  7v7    
dur+ :i* ! borr[] is receiv+ treatm5t = 
canc] & ! #f mon?s aft] su* p]iod2  4   
7d7 ,f$]al ,p]k9s loans ,section        
#dfd7;c77#b7 ( ! ,high] ,education ,act 
( #aife 7#bj ,u4,s4,c4 #ajhg;dd7c77#b77 
is am5d$-- 7#a7 9 subp>agraph 7,a7--    
7,a7 9 clause 7iv71 by /rik+ 2 or &     
ins]t+ a semicolon2  7,b7 9 clause 7v71 
by ins]t+ or aft] ! semicolon2 &  7,c7  
by ins]t+ aft] clause 7v7 ! foll[+3     
7vi7 dur+ :i* ! borr[] is receiv+       
treatm5t = canc] & ! #f mon?s aft] su*  
p]iod2  4  7e7 ,int]e/ on unsubsidiz$   
,/af=d loans ,section #dbh;,h7e77#b7 ( !
 ,high] ,education ,act ( #aife 7#bj    
,u4,s4,c4 #ajgh-h7;e77#b77 is am5d$--   
7#a7 9 subp>agraph 7,a71 by /rik+       
,int]e/ & ins]t+ ,except z provid$ 9    
subp>agraph 7,c71 int]e/2 &  7#b7 by    
add+ at ! end ! foll[+3  7,c7 ,int]e/   

%all n accrue on a loan def]r$ "u       
section #dbh7;b77#a77,m77v7 or          
#dbg7;a77#b77;,c77iv74  4  7f7          
,applicability ,! am5dm5ts made by ?is  
,act %all apply ) respect to loans--    
7#a7 made on or aft] ! date ( ! enactm5t
 ( ?is ,act2 or  7#b7 9 repaym5t on !   
date ( ! enactm5t ( ?is ,act4