,i  #aag? ,,congress  #a/ ,session  ,h4 
,r4 #dgig  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #bi1 #bjba ,mr4 
,c>t] ( ,l\isiana introduc$ ! foll[+    
bill2 :i* 0 ref]r$ to ! ,committee on   
,education & ,labor1 & 9 addition to !  
,committees on ,ways & ,means1 & !      
,judici>y1 = a p]iod to be subsequ5tly  
det]m9$ by ! ,speak]1 9 ea* case =      
consid]ation ( su* provisions z fall )9 
! jurisdiction ( ! committee conc]n$  ,a
 ,,bill  ,to direct ! ,secret>y (       
,education to dis*>ge up to #ej1jjj (   
,f$]al /ud5t loan debt = ea* borr[]1 & =
 o!r purposes4  #a4 ,%ort title ,?is    
,act may be cit$ z ! ,/ud5t ,loan       
,relief ,act4  #b4 ,loan dis*>ge  7a7 ,9
 g5]al ,subject to subsection 7f71 n    
lat] ?an ! date t is #ab mon?s aft] !   
date ( enactm5t ( ?is ,act1 ! ,secret>y 
( ,education %all dis*>ge ! qualifi$    
loan am\nt ( ea* individual1 )\t reg>d  
to ! repaym5t /atus ( ! loan or :e!r !  
loan is 9 default4  7b7 ,qualifi$ loan  
am\nt ,! qualifi$ loan am\nt ( an       

individual is an am\nt equal to ! less] 
(-- 7#a7 #ej1jjj2 &  7#b7 ! aggregate   
loan obligation on ! eligible ,f$]al    
loans ( ! taxpay] t is out/&+ on ! date 
( enactm5t ( ?is ,act4  7c7 ,me?od (    
loan dis*>ge  7#a7 ,9 g5]al ,to provide 
! loan dis*>ge requir$ "u subsection    
7a71 ! ,secret>y is au?oriz$ to c>ry out
 a program--  7,a7 ?r\gh ! hold] ( !    
loan1 to assume ! obligation to repay ! 
qualifi$ loan am\nt = a loan made1      
insur$1 or gu>ante$ "u "p ,b ( title    
,,iv ( ! ,high] ,education ,act ( #aife 
7#bj ,u4,s4,c4 #ajga et seq472  7,b7 to 
cancel ! qualifi$ loan am\nt = a loan   
made "u "p ,d ( title ,,iv ( ! ,high]   
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajhg;a et seq471 or assign$1 ref]r$1 or
 transf]r$ to1 or pur*as$ by1 !         
,secret>y "u su* title ,,iv 7#bj        
,u4,s4,c4 #ajgj et seq472 &  7,c7 ?r\gh 
! in/itution ( high] education t made ! 
loan f its /ud5t loan fund e/abli%$ "u  
"p ,e ( su* title 7#bj ,u4,s4,c4        
#ajhg;aa et seq471 to assume !          

obligation to repay ! qualifi$ loan     
am\nt = su* loan4  7#b7 ,ord] ( loan    
dis*>ge ,) respect to an individual ) at
 lea/ #b eligible ,f$]al loans1 !       
,secret>y %all dis*>ge ! loans ( !      
individual z foll[s 7except z o!rwise   
indicat$ by ! individual73  7,a7 ,9 !   
case 9 :i* ! individual has loans )     
diff]5t rates ( int]e/1 ! loans %\ld be 
dis*>g$ 9 desc5d+ ord] by rate ( int]e/4
  7,b7 ,9 ! case 9 :i* ! individual has 
loans ) ! same rates ( int]e/1 ! loans  
%\ld be dis*>g$ 9 desc5d+ ord] by am\nt 
( out/&+ pr9cipal4  7d7 ,exclusion f    
taxable income ,= purposes ( ! ,int]nal 
,rev5ue ,code ( #aihf1 9 ! case ( an    
individual1 gross income does n include 
any am\nt :i* 7b = ?is subsection7 w\ld 
be includible 9 gross income by reason (
 ! dis*>ge 79 :ole or 9 "p7 ( any loan  
if su* dis*>ge 0 pursuant to ?is ,act4  
7e7 ,taxpay] in=mation  7#a7 ,9 g5]al ,!
 ,secret>y ( ! ,treasury may1 ^u writt5 
reque/ f ! ,secret>y ( ,education1      
disclose to (fic]s & employees ( !      

,dep>tm5t ( ,education return in=mation 
) respect to a taxpay] :o has receiv$   
eligible ,f$]al loans t are out/&+ on ! 
date ( enactm5t ( ?is ,act4 ,su* return 
in=mation %all be limit$ to--  7,a7     
taxpay] id5tity in=mation ) respect to  
su* taxpay]2  7,b7 ! fil+ /atus ( su*   
taxpay]2 &  7,c7 ! adju/$ gross income (
 su* taxpay]4  7#b7 ,re/riction on use (
 disclos$ in=mation ,return in=mation   
disclos$ "u p>agraph 7#a7 may be us$ by 
(fic]s & employees ( ! ,dep>tm5t (      
,education only = ! purposes (1 & to !  
ext5t necess>y 91 e/abli%+ ! appropriate
 qualifi$ loan am\nt ( a taxpay]4  7f7  
,long-,t]m settle & compromise dis*>ge  
au?ority ,n lat] ?an ! date t is #bd    
mon?s aft] ! date ( enactm5t ( ?is ,act1
 ! ,secret>y ( ,education may use !     
au?ority "u sections #dcb7;a77#f7 &     
#dfh7b7 ( ! ,high] ,education ,act (    
#aife 7#bj ,u4,s4,c4 #ajhb7;a77#f72     
#ajhg;hh7#b77 to dis*>ge loans "u ?is   
section beyond ! p]iod describ$ 9       
subsection 7a7 =-- 7#a7 an individual   

:o1 ?r\gh an appeals process e/abli%$ by
 ! ,secret>y1 successfully appeals a    
loan dis*>ge det]m9ation by ! ,secret>y 
"u ?is section2  7#b7 an individual :o1 
due to special circum/ances1 misses a   
deadl9e e/abli%$ by ! ,secret>y 9 !     
adm9i/ration ( loan dis*>ges "u ?is     
section2 or  7#c7 an individual 7or a   
gr\p ( individuals7 :o ! ,secret>y      
det]m9es %\ld h receiv$ a loan dis*>ge  
or a dis*>ge am\nt t is diff]5t f !     
am\nt ( loan dis*>ge receiv$ "u ?is     
section1 except t a loan dis*>ge am\nt  
receiv$ "u ?is subsection may n exce$ ! 
qualifi$ loan am\nt det]m9$ = !         
individual 7or ! gr\p ( individuals7 "u 
subsection 7b74  7g7 ,cr$it report+ ,9 !
 case ( a borr[] ( an eligible ,f$]al   
loan t 0 9 default prior to be+ dis*>g$ 
"u ?is section & on :i*1 z a result (   
su* loan dis*>ge1 !re is no out/&+      
balance ( pr9cipal or int]e/1 !         
,secret>y1 gu>anty ag5cy or o!r hold] ( 
! loan %all reque/ any consum] report+  
ag5cy to :i* ! ,secret>y1 gu>anty ag5cy 

or hold]1 z applicable1 report$ !       
default ( ! loan1 to remove ! record ( !
 default f ! borr[]'s cr$it hi/ory4  7h7
 ,memb]s ( ,congress ,9 ?is section1 !  
t]ms individual & taxpay] d n include a 
,memb] ( ,congress4  #c4 ,automatic     
adm9i/rative =be>ance2 halt+ ( wage     
g>ni%m5t ,dur+ ! p]iod beg9n+ on ! date 
( enactm5t ( ?is ,act & end+ on ! date t
 is #ab mon?s aft] su* date ( enactm5t1 
! ,secret>y ( ,education-- 7#a7 %all    
place ea* borr[] ( an eligible ,f$]al   
loan ) an out/&+ balance1 )\t any fur!r 
action requir$ by ! borr[] 7except t !  
borr[] may opt-out ( ?is section71 on an
 adm9i/rative =be>ance dur+ :i* p]iodic 
in/allm5ts ( pr9cipal ne$ n be paid1 &  
int]e/ %all n accrue1 on su* loan2 &    
7#b7 may n issue an ord] = wage g>ni%m5t
 or )hold+ "u section #dhh;,a ( ! ,high]
 ,education ,act ( #aife 7#bj ,u4,s4,c4 
#ajie;a7 or section #cgbj;,d ( title    
#ca1 ,unit$ ,/ates ,code1 initiate      
proce$+s to collect debt ?r\gh d$uctions
 f pay "u su* section #dhh;,a or        

#cgbj;,d1 or en=ce or o!rwise require   
compliance ) a wage g>ni%m5t or )hold+  
ord] issu$ "u su* section #dhh;,a or    
#cgbj;,d be=e ! date ( enactm5t ( ?is   
,act 7:i* %all include /ay+ any relat$  
proce$+s74  #d4 ,/ay+ & prohibition on  
comm5cem5t ( actions = collection ,until
 #ab mon?s aft] ! date ( enactm5t ( ?is 
,act1 no eligible ,f$]al loan may be    
ref]r$ to ! ,attorney ,g5]al = any      
action seek+ collection ( any am\nt ow$ 
on t loan & any action p5d+ z ( ! date (
 enactm5t ( ?is ,act %all be /ay$4  #e4 
,ineligibility = ,treasury ,(fset ,until
 #ab mon?s aft] ! date ( enactm5t ( ?is 
,act1 no claim p]ta9+ to an eligible    
,f$]al loan may be c]tifi$ "u section   
#cgaf7;c77#a7 ( title #ca1 ,unit$ ,/ates
 ,code4