,i  #aag? ,,congress  #a/ ,session  ,h4 
,r4 #cid  ,,9 ,,! ,,h\se ,,(            
,,repres5tatives  ,janu>y #ba1 #bjba,mr4
 ,c\rtney 7= himself1 ,mrs4 ,hayes1 ,ms4
 ,wild1 ,ms4 ,williams ( ,georgia1 ,mr4 
,coh51 ,mr4 ,p]lmutt]1 ,mr4 ,himes1 ,mr4
 ,l>son ( ,connecticut1 ,mr4 ,swalwell1 
,mr4 ,kilm]1 ,ms4 ,del,bene1 ,mr4 ,wel*1
 ,ms4 ,und]wood1 & ,mr4 ,mi*ael ,f4     
,doyle ( ,p5nsylvania7 introduc$ !      
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,education & ,labor  ,a   
,,bill  ,to exp& loan relief to all     
,f$]al /ud5t loan borr[]s1 & = o!r      
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,,covid-#ai ,/ud5t ,loan   
,relief ,ext5sion ,act4  #b4 ,exp&+ loan
 relief to all f$]al /ud5t loan borr[]s 
,section #cejb7;a7 ( division ,a ( !    
,coronavirus ,aid1 ,relief1 & ,economic 
,security ,act 7,public ,law #aaf-acf7  
is am5d$-- 7#a7 by r$esignat+ p>agraphs 
7#b7 ?r\gh 7#e7 z p>agraphs 7#c7 ?r\gh  
7#f71 respectively2 &  7#b7 by ins]t+   
aft] p>agraph 7#a7 ! foll[+3  7#b7      

,f$]al /ud5t loan ,! t]m ,f$]al /ud5t   
loan means a loan-- 7,a7 made "u "p ,d1 
"p ,b1 or "p ,e ( title ,,iv ( ! ,high] 
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajgj et seq471 & held by ! ,dep>tm5t ( 
,education2  7,b7 made1 insur$1 or      
gu>ante$ "u "p ,b ( su* title1 or made  
"u "p ,e ( su* title1 & n held by !     
,dep>tm5t ( ,education2 or  7,c7 made   
"u-- 7i7 subp>t ,,ii ( "p ,a ( title    
,,vii ( ! ,public ,heal? ,s]vice ,act   
7#db ,u4,s4,c4 #bibq et seq472 or  7ii7 
"p ,e ( title ,,viii ( ! ,public ,heal? 
,s]vice ,act 7#db ,u4,s4,c4 #big;a et   
seq474  4  #c4 ,ext5d+ ! l5g? ( borr[]  
relief due to ! coronavirus em]g5cy     
,section #ceac ( division ,a ( !        
,coronavirus ,aid1 ,relief1 & ,economic 
,security ,act 7,public ,law #aaf-acf7  
is am5d$-- 7#a7 by am5d+ subsection 7a7 
to read z foll[s3  7a7 ,susp5sion (     
paym5ts  7#a7 ,9 g5]al ,dur+ ! p]iod    
beg9n+ on ,m>* #ac1 #bjbj1 & end+ #cj   
days aft] ! t]m9ation date ( ! public   
heal? em]g5cy decl>$ by ! ,secret>y (   

,heal? & ,human ,s]vices on ,janu>y #ca1
 #bjbj1 "u section #cai ( ! ,public     
,heal? ,s]vices ,act 7#db ,u4,s4,c4     
#bdg;d7 9 response to ,,covid-#ai1 !    
,secret>y or1 z applicable1 ! ,secret>y 
( ,heal? & ,human ,s]vices1 %all susp5d 
all paym5ts due on ,f$]al /ud5t loans4  
7#b7 ,transition p]iod ,= "o additional 
#cj-;day p]iod beg9n+ on ! day aft] !   
la/ day ( ! susp5sion p]iod describ$ 9  
subsection 7a71 ! ,secret>y or1 z       
applicable1 ! ,secret>y ( ,heal? &      
,human ,s]vices1 %all ensure t any miss$
 paym5ts on a ,f$]al /ud5t loan by a    
borr[] dur+ su* additional #cj-;day     
p]iod-- 7,a7 d n result 9 collection    
fees or p5alties associat$ ) late       
paym5ts2 &  7,b7 are n report$ to any   
consum] report+ ag5cy or o!rwise impact 
! borr[]'s cr$it hi/ory4  7#c7          
,det]m9ation ( comp5sation ,! ,secret>y 
or1 z applicable1 ! ,secret>y ( ,heal? &
 ,human ,s]vices %all-- 7,a7 ) respect  
to a hold] ( a ,f$]al /ud5t loan def9$ 9
 subp>agraph 7,b7 or 7,c7 ( section     

#cejb7;a77#b7-- 7i7 det]m9e any losses =
 su* hold] due to ! susp5sion ( paym5ts 
on su* loan "u p>agraph 7#a72 &  7ii7   
e/abli% reasonable comp5sation = su*    
losses2 &  7,b7 n lat] ?an #fj days aft]
 ! date ( enactm5t ( ! ,,covid-#ai      
,/ud5t ,loan ,relief ,ext5sion ,act1 )  
respect to a borr[] :o made a paym5t on 
a ,f$]al /ud5t loan def9$ 9 subp>agraph 
7,b7 or 7,c7 ( section #cejb7;a77#b7    
dur+ ! p]iod beg9n+ on ,m>* #ac1 #bjbj1 
& end+ on su* date ( enactm5t1 !        
,secret>y %all pay to ! borr[]1 an am\nt
 equal to ! l[] (-- 7i7 ! am\nt paid by 
! borr[] on su* loan dur+ su* p]iod2 or 
7ii7 ! am\nt t 0 due on su* loan dur+   
su* p]iod4  7#d7 ,rec]tification ,a     
borr[] :o is repay+ a ,f$]al /ud5t loan 
pursuant to an income-cont+5t repaym5t  
plan "u section #dee7;d77#a77;,d7 ( !   
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajhg;e7d77#a77;,d77 or an    
income-bas$ repaym5t plan "u section    
#dic;,c ( su* ,act 7#bj ,u4,s4,c4       
#ajih;e7 %all n be requir$ to rec]tify !

 income or family size ( ! borr[] "u su*
 plan prior to ,decemb] #ca1 #bjba4  2  
7#b7 9 subsection 7c71 by /rik+ "p ,d or
 ,b ( title ,,iv ( ! ,high] ,education  
,act ( #aife 7#bj ,u4,s4,c4 #ajhg;a et  
seq42 #ajga et seq47 & ins]t+ "p ,b1 ,d1
 or ,e ( title ,,iv ( ! ,high]          
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajhg;a et seq42 #ajga et seq42 #ajhg;aa
 et seq472  7#c7 9 subsection 7d71 by   
/rik+ ,dur+ ! p]iod 9 :i* ! ,secret>y   
susp5ds paym5ts on a loan "u subsection 
7a71 ! ,secret>y & ins]t+ ,dur+ ! p]iod 
9 :i* paym5ts on a ,f$]al /ud5t loan are
 susp5d$ "u subsection 7a71 ! ,secret>y 
or1 z applicable1 ! ,secret>y ( ,heal? &
 ,human ,s]vices2  7#d7 9 subsection    
7e71 by /rik+ ,dur+ ! p]iod 9 :i* !     
,secret>y susp5ds paym5ts on a loan "u  
subsection 7a71 ! ,secret>y & ins]t+    
,dur+ ! p]iod 9 :i* paym5ts on a ,f$]al 
/ud5t loan are susp5d$ "u subsection    
7a71 ! ,secret>y or1 z applicable1 !    
,secret>y ( ,heal? & ,human ,s]vices2 & 
7#e7 9 subsection 7f71 by /rik+ !       

,secret>y & ins]t+ ! ,secret>y or1 z    
applicable1 ! ,secret>y ( ,heal? &      
,human ,s]vices14  #d4 ,no int]e/       
accrual ,section #ceac7;b7 ( division ,a
 ( ! ,coronavirus ,aid1 ,relief1 &      
,economic ,security ,act 7,public ,law  
#aaf-acf7 is am5d$ to read z foll[s3    
7b7 ,provid+ int]e/ relief  7#a7 ,no    
accrual ( int]e/  7,a7 ,9 g5]al ,dur+ ! 
p]iod describ$ 9 subp>agraph 7,d71      
int]e/ on a ,f$]al /ud5t loan %all n    
accrue or %all be paid by ! ,secret>y   
7or ! ,secret>y ( ,heal? & ,human       
,s]vices7 dur+-- 7i7 ! repaym5t p]iod ( 
su* loan2  7ii7 any p]iod exclud$ f !   
repaym5t p]iod ( su* loan 7includ+ any  
p]iod ( def]m5t or =be>ance72  7iii7 any
 p]iod 9 :i* ! borr[] ( su* loan is 9 a 
grace p]iod2 or  7iv7 any p]iod 9 :i* ! 
borr[] ( su* loan is 9 default on su*   
loan4  7,b7 ,direct loans & dep>tm5t (  
education held ,,ffel & p]k9s loans ,=  
purposes ( subp>agraph 7,a71 int]e/ %all
 n accrue on a ,f$]al /ud5t loan def9$ 9
 section #cejb7;a77#b77;,a74  7,c7      

,,ffel & p]k9s loans n held by !        
dep>tm5t ( education & hhs loans ,=     
purposes ( subp>agraph 7,a7-- 7i7 9 !   
case ( a ,f$]al /ud5t loan def9$ 9      
section #cejb7;a77#b77;,b71 ! ,secret>y 
%all pay1 on a mon?ly basis1 ! am\nt (  
int]e/ due on ! unpaid pr9cipal ( su*   
loan to ! hold] ( su* loan1 except t any
 paym5ts made "u ?is clause %all n      
affect paym5t calculations "u section   
#dch ( ! ,high] ,education ,act ( #aife 
7#bj ,u4,s4,c4 #ajhg-a72 &  7ii7 9 !    
case ( a ,f$]al /ud5t loan def9$ 9      
section #cejb7;a77#b77;,c71 ! ,secret>y 
( ,heal? & ,human ,s]vices %all pay1 on 
a mon?ly basis1 ! am\nt ( int]e/ due on 
! unpaid pr9cipal ( su* loan to ! hold] 
( su* loan4  7,d7 ,p]iod describ$  7i7  
,9 g5]al ,! p]iod describ$ 9 ?is        
subp>agraph is ! p]iod beg9n+ on ,m>*   
#ac1 #bjbj1 & end+ ! day foll[+ ! date (
 ! enactm5t ( ! ,,covid-#ai ,/ud5t ,loan
 ,relief ,ext5sion ,act t is #b mon?s   
aft] ! national ,u-#e measure ( labor   
und]utilization %[s initial signs (     

recov]y4  7ii7 ,def9itions ,9 ?is       
subp>agraph3 7,i7 ,national u-#e measure
 ( labor und]utilization ,! t]m national
 ,u-#e measure ( labor und]utilization  
means ! seasonally-adju/$1 mon?ly ,u-#e 
measure ( labor und]utilization publi%$ 
by ! ,bureau ( ,labor ,/ati/ics4  7,,ii7
 ,initial signs ( recov]y ,! t]m initial
 signs ( recov]y means t ! av]age       
national ,u-#e measure ( labor          
und]utilization = mon?s 9 ! mo/ rec5t   
#c-;consecutive-mon? p]iod = :i* data   
are available-- 7aa7 is l[] ?an ! highe/
 value ( ! av]age national ,u-#e measure
 ( labor und]utilization = a            
#c-;consecutive-mon? p]iod dur+ ! p]iod 
beg9n+ 9 ,m>* #bjbj & ! mo/ rec5t mon? =
 :i* data f ! ,bureau ( ,labor ,/ati/ics
 are available by an am\nt t is equal to
 or great] ?an "o-?ird ( ! diff]5ce     
betwe5-- 7,,aa7 ! highe/ value ( !      
av]age national ,u-#e measure ( labor   
und]utilization = a #c-;consecutive-mon?
 p]iod dur+ su* p]iod2 & 7,,bb7 ! value 
( ! av]age national ,u-#e measure (     

labor und]utilization = !               
#c-;consecutive-mon? p]iod end+ 9       
,febru>y #bjbj2 &  7bb7 has decreas$ =  
ea* mon? dur+ ! mo/ rec5t #b consecutive
 mon?s = :i* data f ! ,bureau ( ,labor  
,/ati/ics are available4  7,e7 ,o!r     
def9itions ,9 ?is p>agraph3 7i7 ,default
 ,! t]m default-- 7,i7 9 ! case ( a     
,f$]al /ud5t loan made1 insur$1 or      
gu>ante$ "u "p ,b or ,d ( ! ,high]      
,education ,act ( #aife1 has ! mean+    
giv5 su* t]m 9 section #dce7l7 ( !      
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajhe72  7,,ii7 9 ! case ( a  
,f$]al /ud5t loan made "u "p ,e ( !     
,high] ,education ,act ( #aife1 has !   
mean+ giv5 su* t]m 9 section #fgd4b (   
title #cd1 ,code ( ,f$]al ,regulations  
7or successor regulations72 or  7,,iii7 
9 ! case ( a ,f$]al /ud5t loan def9$ 9  
section #cejb7;a77#b77;,c71 has ! mean+ 
giv5 su* t]m 9 section #gba or #hce ( ! 
,public ,heal? ,s]vice ,act 7#db        
,u4,s4,c4 #bibq1 #big;a71 z applicable4 
7ii7 ,grace p]iod ,! t]m grace p]iod    

means-- 7,i7 9 ! case ( a ,f$]al /ud5t  
loan made1 insur$1 or gu>ante$ "u "p ,b 
or ,d ( ! ,high] ,education ,act (      
#aife1 ! #f-mon? p]iod aft] ! date !    
/ud5t ceases to c>ry at lea/ "o-half !  
normal full-"t academic workload1 z     
describ$ 9 section #dbh7;b77#g7 ( !     
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajgh7;b77#g772  7,,ii7 9 !   
case ( a ,f$]al /ud5t loan made "u "p ,e
 ( ! ,high] ,education ,act ( #aife1 !  
#i-mon? p]iod aft] ! date on :i* a /ud5t
 ceases to c>ry at lea/ "o-half ! normal
 full-"t academic workload1 z describ$ 9
 section #dfd7;c77#a77;,a7 ( ! ,high]   
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajhg;dd7c77#a77;,a772 &  7,,iii7 9 !   
case ( a ,f$]al /ud5t loan def9$ 9      
section #cejb7;a77#b77;,c71 ! #a-ye>    
p]iod describ$ 9 section #gbb7;c7 ( !   
,public ,heal? ,s]vice ,act 7#db        
,u4,s4,c4 #bibr7c77 or ! #i-mon? p]iod  
describ$ 9 section #hcf7;b77#b7 ( su*   
,act 7#db ,u4,s4,c4 #big;b7b77#b771 z   
applicable4  7iii7 ,repaym5t p]iod ,!   

t]m repaym5t p]iod means-- 7,i7 9 ! case
 ( a ,f$]al /ud5t loan made1 insur$1 or 
gu>ante$ "u "p ,b or ,d ( ! ,high]      
,education ,act ( #aife1 ! repaym5t     
p]iod describ$ 9 section #dbh7;b77#g7 ( 
! ,high] ,education ,act ( #aife 7#bj   
,u4,s4,c4 #ajgh7;b77#g772  7,,ii7 9 !   
case ( a ,f$]al /ud5t loan made "u "p ,e
 ( ! ,high] ,education ,act ( #aife1 !  
repaym5t p]iod describ$ 9 section       
#dfd7;c77#d7 ( ! ,high] ,education ,act 
( #aife 7#bj ,u4,s4,c4 #ajhg;dd7c77#d772
 or  7,,iii7 9 ! case ( a ,f$]al /ud5t  
loan def9$ 9 section #cejb7;a77#b77;,c71
 ! repaym5t p]iod describ$ 9 section    
#gbb7;c7 or #hcf7;b77#b7 ( ! ,public    
,heal? ,s]vice ,act 7#db ,u4,s4,c4      
#bibr7c71 #big;b7b77#b771 z applicable4 
7#b7 ,int]e/ refund 9 lieu ( retroactive
 applicability ,by n lat] ?an #fj days  
aft] ! date ( enactm5t ( ! ,,covid-#ai  
,/ud5t ,loan ,relief ,ext5sion ,act1 !  
,secret>y or1 z applicable1 ! ,secret>y 
( ,heal? & ,human ,s]vices1 %all1 = ea* 
,f$]al /ud5t loan def9$ 9 subp>agraph   

7,b7 or 7,c7 ( section #cejb7;a77#b7 =  
:i* int]e/ 0 n paid by su* ,secret>y    
pursuant to p>agraph 7#a7 dur+ ! p]iod  
beg9n+ on ,m>* #ac1 #bjbj & end+ on su* 
date ( enactm5t-- 7,a7 det]m9e ! am\nt (
 int]e/ due 7or t w\ld h be5 due 9 !    
abs5ce ( be+ volunt>ily paid by ! hold] 
( su* loan7 on su* loan dur+ ! p]iod    
beg9n+ ,m>* #ac1 #bjbj1 & end+ on su*   
date ( enactm5t2 &  7,b7 refund ! am\nt 
( int]e/ calculat$ "u subp>agraph 7,a71 
by-- 7i7 pay+ ! hold] ( ! loan ! am\nt (
 ! int]e/ calculat$ "u subp>agraph 7,a71
 to be appli$ to ! loan balance = !     
borr[] ( su* loan2 or  7ii7 if !re is no
 out/&+ balance or paym5t due on ! loan 
z ( ! date on :i* ! refund is to be     
provid$1 provid+ a paym5t 9 ! am\nt ( ! 
int]e/ calculat$ "u subp>agraph 7,a7    
directly to ! borr[]4  7#c7 ,susp5sion (
 int]e/ capitalization  7,a7 ,9 g5]al ,)
 respect to any ,f$]al /ud5t loan1      
int]e/ t accru$ b _h n be5 paid prior to
 ,m>* #ac1 #bjbj1 & _h n be5 capitaliz$ 
z ( su* date1 %all n be capitaliz$4     

7,b7 ,transition ,! ,secret>y or1 z     
applicable1 ! ,secret>y ( ,heal? &      
,human ,s]vices1 %all ensure t any      
int]e/ on a ,f$]al /ud5t loan t is      
capitaliz$ 9 violation ( subp>agraph    
7,a7 is correct$ & ! balance ( pr9cipal 
& int]e/ due = ! ,f$]al /ud5t loan is   
adju/$ accord+ly4  4  #e4 ,notice to    
borr[]s ,section #ceac7;g7 ( division ,a
 ( ! ,coronavirus ,aid1 ,relief1 &      
,economic ,security ,act 7,public ,law  
#aaf-acf7 is am5d$-- 7#a7 9 ! matt]     
prec$+ p>agraph 7#a71 by /rik+ !        
,secret>y & ins]t+ ! ,secret>y or1 z    
applicable1 ! ,secret>y ( ,heal? &      
,human ,s]vices12  7#b7 9 p>agraph      
7#a77;,d71 by /rik+ ! p]iod & ins]t+ a  
semicolon2  7#c7 9 p>agraph 7#b7-- 7,a7 
9 ! matt] prec$+ subp>agraph 7,a71 by   
/rik+ ,augu/ #a1 #bjbj & ins]t+ ,augu/  
#a1 #bjba2  7,b7 by am5d+ subp>agraph   
7,b7 to read z foll[s3  7,b7 t-- 7i7 a  
borr[] ( a ,f$]al /ud5t loan made1      
insur$1 or gu>ante$ "u "p ,b or ,d (    
title ,,iv ( ! ,high] ,education ,act ( 

#aife may be eligible to enroll 9 an    
income-cont+5t repaym5t plan "u section 
#dee7;d77#a77;,d7 ( ! ,high] ,education 
,act ( #aife 7#bj ,u4,s4,c4             
#ajhg;e7d77#a77;,d77 or an income-bas$  
repaym5t plan "u section #dic;,c ( su*  
,act 7#bj ,u4,s4,c4 #ajih;e71 includ+ a 
brief description ( su* repaym5t plans2 
&  7ii7 9 ! case ( a borr[] ( a ,f$]al  
/ud5t loan def9$ 9 section              
#cejb7;a77#b77;,c7 or made "u "p ,e (   
title ,,iv ( ! ,high] ,education (      
#aife1 ! borr[] may be eligible to      
enroll 9 su* a repaym5t plan if ! borr[]
 consolidates su* loan ) a loan describ$
 9 clause 7i7 ( ?is subp>agraph1 &      
receives a ,f$]al ,direct ,consolidation
 ,loan "u "p ,d ( ! ,high] ,education ( 
#aife 7#bj ,u4,s4,c4 #ajhg;a et seq472 &
  2 &  7,c7 by add+ at ! end ! foll[+3  
7#c7 9 a case 9 :i* ! accrual ( int]e/  
on ,f$]al /ud5t loans is susp5d$ "u     
subsection 7b77#a7 beyond ,septemb] #cj1
 #bjba1 dur+ ! #b-mon? p]iod beg9n+ on !
 date on :i* ! national ,u-#e measure ( 

labor und]utilization %[s initial signs 
( recov]y 7z su* t]ms are def9$ 9       
subsection 7b77#a77;,d77 c>ry out a     
program to provide n less ?an #f notices
 by po/al mail1 telephone1 or electronic
 communication to borr[]s-- 7,a7        
indicat+ :5 ! int]e/ on ,f$]al /ud5t    
loans ( ! borr[] w resume accrual &     
capitalization2 &  7,b7 ! in=mation     
describ$ 9 p>agraph 7#b77;,b74  4