,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #bahf  ,,in ,,the ,,house ,,of  
,,representatives  ,april #i1 #bjai,mr4 
,pocan 7for himself1 ,mr4 ,grothman1    
,mr4 ,payne1 ,ms4 ,jayapal1 ,ms4 ,lee of
 ,california1 ,mr4 ,thompson of         
,mississippi1 ,mr4 ,beyer1 ,mr4 ,schiff1
 ,mr4 ,khanna1 ,mr4 ,cohen1 ,mr4 ,rush1 
,ms4 ,brownley of ,california1 ,mr4     
,schrader1 ,mr4 ,brendan ,f4 ,boyle of  
,pennsylvania1 ,ms4 ,meng1 ,mr4 ,welch1 
,mr4 ,loebsack1 ,mr4 ,peters1 ,mr4      
,lowenthal1 ,ms4 ,moore1 ,mr4 ,raskin1  
,mr4 ,malinowski1 and ,ms4 ,wasserman   
,schultz7 introduced the following bill2
 which was referred to the ,committee on
 ,education and ,labor  ,a ,,bill  ,to  
authorize borrowers of loans under the  
,william ,d4 ,ford ,federal ,direct     
,loan ,program to modify the interest   
rate of such loans to be equal to the   
interest rate for such loans at the time
 of modification4  #a4 ,short title     
,this ,act may be cited as the ,student 
,loan ,refinancing ,act4  #b4 ,borrower 

modification of interest rates under the
 ,william ,d4 ,ford ,federal ,direct    
,loan ,program ,section #dee7;b7 of the 
,higher ,education ,act of #aife 7#bj   
,u4,s4,c4 #ajhg;e7b77 is amended by     
adding at the end the following new     
paragraph3  7#aa7 ,borrower modification
 of interest rate  7,a7 ,modification   
,notwithstanding the preceding          
paragraphs of this subsection1 the      
borrower of a ,federal ,direct ,stafford
 ,loan1 a ,federal ,direct ,unsubsidized
 ,stafford ,loan1 a ,federal ,direct    
,,plus ,loan1 or a ,federal ,direct     
,consolidation ,loan may elect to modify
 the interest rate of the loan to be    
equal to the interest rate that would be
 applicable to such loan if such loan   
were first disbursed 7or in the case of 
a ,federal ,direct ,consolidation ,loan1
 first applied for7 on the date on which
 such borrower elects to modify the     
interest rate of such loan4  7,b7 ,fixed
 rate ,except as provided in            
subparagraph 7,c71 an interest rate     

elected under subparagraph 7,a7 for a   
loan shall be fixed for the life of the 
loan4  7,c7 ,continuing authority to    
modify ,a borrower may elect to modify  
the interest rate of a loan in          
accordance with subparagraph 7,a7-- 7i7 
at any time during the life of the loan2
 and  7ii7 any number of times during   
the life of the loan1 except that a     
borrower may not modify the interest    
rate of the loan more than once in a    
six-month period4  4