,i  #aag? ,,congress  #b;d ,session  ,h4
 ,r4 #gecj  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,april #ad1 #bjbb,ms4 
,wilson ( ,florida 7= h]self1 ,mr4      
,br5dan ,f4 ,boyle ( ,p5nsylvania1 ,mr4 
,br[n ( ,m>yl&1 ,ms4 ,br[n ( ,ohio1 ,mr4
 ,butt]field1 ,mr4 ,c>bajal1 ,mr4 ,c>t] 
( ,l\isiana1 ,mrs4 ,*]filus-,mc,cormick1
 ,ms4 ,cl>ke ( ,new ,york1 ,mr4 ,cleav]1
 ,mr4 ,c\rtney1 ,mr4 ,evans1 ,ms4 ,lois 
,frankel ( ,florida1 ,mr4 ,gre5 (       
,texas1 ,mrs4 ,hayes1 ,mr4 ,jones1 ,mr4 
,lawson ( ,florida1 ,mrs4 ,mc,bath1 ,ms4
 ,newman1 ,ms4 ,norton1 ,ms4 ,/rickl&1 &
 ,ms4 ,adams7 introduc$ ! foll[+ bill2  
:i* 0 ref]r$ to ! ,committee on         
,education & ,labor  ,a ,,bill  ,to     
update ! income-driv5 repaym5t plans & !
 public s]vice loan =giv5ess program "u 
! ,high] ,education ,act ( #aife1 & =   
o!r purposes4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,/ud5t ,loan ,borr[]   
,relief ,act4  #b4 ,income-driv5        
repaym5t requirem5ts  7a7               
,income-,cont+5t repaym5t plans ,section

 #dee ( ! ,high] ,education ,act ( #aife
 7#bj ,u4,s4,c4 #ajhg;e7 is am5d$-- 7#a7
 9 subsection 7d77#a77;,d71 by /rik+ #be
 ye>s & ins]t+ #ae ye>s2 &  7#b7 9      
subsection 7e7-- 7,a7 9 ! matt] prec$+  
subp>agraph 7,a71 9 p>agraph 7#g71 by   
/rik+ 9 effect = a borr[]1 & ins]t+ 9   
effect = a borr[]1 n to exce$ #ae ye>s12
 &  7,b7 by add+ at ! end ! foll[+3     
7#a7 ,mon?ly paym5t requirem5ts ,dur+   
any p]iod a borr[] is repay+ a loan made
 "u ?is "p pursuant to an income cont+5t
 repaym5t plan "u ?is subsection1 !     
foll[+ %all apply3 7,a7 7i7 ,! borr[]'s 
aggregate mon?ly paym5t = all su* loans 
%all n exce$ ! result describ$ 9 clause 
7ii7 divid$ by #ab4  7ii7 ,! result     
describ$ 9 ?is clause %all be #aj p]c5t 
( ! result obta9$ by calculat+1 on at   
lea/ an annual basis1 ! am\nt by :i*--  
7,i7 ! borr[]'s1 & ! borr[]'s sp\se's   
7if applicable71 adju/$ gross income2   
exce$s  7,,ii7 #bej p]c5t ( ! pov]ty l9e
 applicable to ! borr[]'s family size z 
det]m9$ "u section #fgc7b7 ( !          

,community ,s]vices ,block ,grant ,act  
7#db ,u4,s4,c4 #iijb7b774  7,b7 7i7     
,subject to clause 7ii71 9 a case 9 :i* 
! borr[]'s aggregate mon?ly paym5t on   
su* loans is n suffici5t to pay ! accru$
 int]e/ on su* loans1 any su* accru$    
int]e/ t is n paid %all be cancel$ by ! 
,secret>y4  7ii7 7,i7 ,not)/&+ clause   
7i71 any int]e/ due & n paid on su*     
loans at a "t describ$ 9 subclause      
7,,ii7 ( ?is clause %all accrue b n be  
capitaliz$4  7,,ii7 ,?is clause %all    
apply at ea* ( ! foll[+ times3 7aa7 ,!  
borr[] no long] has a p>tial f9ancial   
h>d%ip1 z def9$ by ! applicable income  
cont+5t repaym5t plan4  7bb7 ,! borr[]  
beg9s mak+ paym5ts ( n less ?an ! mon?ly
 am\nt calculat$ "u #dee7;d77#a77;,a71  
bas$ on a #aj-ye> repaym5t p]iod1 :5 !  
borr[] fir/ made ! election describ$ 9  
?is subsection4  4  7b7 ,income-,bas$   
repaym5t ,section #dic;,c ( ! ,high]    
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajih;e7 is am5d$-- 7#a7 9 subsection   
7a77#c77;,b7-- 7,a7 9 ! matt] prec$+    

clause 7i71 by /rik+ #ae p]c5t & ins]t+ 
#aj p]c5t2 &  7,b7 9 clause 7ii71 by    
/rik+ #aej & ins]t+ #bej2 &  7#b7 9     
subsection 7b7-- 7,a7 by /rik+ p>agraph 
7#c7 & ins]t+ ! foll[+3  7#c7 any int]e/
 due & n paid "u p>agraph 7#b7-- 7,a7   
subject to subp>agraph 7,b71 %all be    
cancel$ or paid by ! ,secret>y dur+ !   
p]iod aft] ! date ( ! borr[]'s election 
"u p>agraph 7#a72 &  7,b7 %all accrue b 
n be capitaliz$1 at ! "t ! borr[]-- 7i7 
ends ! election to make income-bas$     
repaym5t "u ?is subsection2 or  7ii7    
beg9s mak+ paym5ts ( n less ?an ! am\nt 
specifi$ 9 p>agraph 7#f77;,a72  2 &     
7,b7 9 p>agraph 7#g77;,b71 by /rik+ #be 
ye>s & ins]t+ #ae ye>s4  7c7            
,application ,! am5dm5ts made by ?is    
section %all apply to ea* borr[] :o--   
7#a7 z ( ! effective date ( su*         
am5dm5ts1 is repay+ loans "u an         
income-cont+5t repaym5t plan "u section 
#dee7;e7 ( ! ,high] ,education ,act (   
#aife 7#bj ,u4,s4,c4 #ajhg;e7e77 or an  
income-bas$ repaym5t plan "u section    

#dic;,c ( su* ,act 7#bj ,u4,s4,c4       
#ajih;e72 or  7#b7 on or aft] su*       
effective date1 selects1 or is requir$  
to repay su* loan pursuant to su* a     
repaym5t plan4  #c4 ,public s]vice loan 
=giv5ess ,section #dee7m7 ( ! ,high]    
,education ,act ( #aife 7#bj ,u4,s4,c4  
#ajhg;e7m77 is am5d$-- 7#a7 9 p>agraph  
7#a7-- 7,a7 9 ! matt] prec$+ subp>agraph
 7,a71 by /rik+ cancel ! balance &      
ins]t+ cancel1 on an annual a basis = n 
m ?an #aj ye>s1 a portion ( ! balance2  
7,b7 9 subp>agraph 7,a71 by /rik+ #abj &
 ins]t+ #ab2 &  7,c7 9 subp>agraph      
7,b77ii71 by /rik+ #abj & ins]t+ #ab2 & 
7#b7 by am5d+ p>agraph 7#b7 to read z   
foll[s3  7#b7 ,loan cancellation am\nt  
7,a7 ,9 g5]al ,a borr[] may submit an   
application = loan cancellation "u ?is  
subsection aft] any employm5t p]iod li/$
 9 subp>agraph 7,b71 & ^u a det]m9ation 
t ! borr[] is eligible = su* loan       
cancellation1 ! ,secret>y %all cancel ! 
portion ( ! balance due on ! pr9cipal & 
int]e/ on ! eligible ,f$]al ,direct     

,loans made to ! borr[] "u ?is "p = :i* 
! borr[] is eligible "u subp>agraph     
7,b74  7,b7 ,employm5t p]iods ,!        
employm5t p]iods li/$ 9 ?is subp>agraph 
are z foll[s3 7i7 ,fir/ #ab-mon?        
employm5t p]iod ,aft] ! conclusion ( !  
fir/ #ab-mon? employm5t p]iod describ$ 9
 p>agraph 7#a71 ! ,secret>y %all cancel 
#e p]c5t ( ! obligation to repay !      
balance ( pr9cipal & int]e/ due z ( ! "t
 ( su* cancellation1 on ! eligible      
,f$]al ,direct ,loans made to ! borr[]  
"u ?is "p4  7ii7 ,second #ab-mon?       
employm5t p]iod ,aft] ! conclusion ( !  
second #ab-mon? employm5t p]iod describ$
 9 p>agraph 7#a71 ! ,secret>y %all      
cancel #e p]c5t ( ! obligation to repay 
! balance ( pr9cipal & int]e/ due z ( ! 
"t ( su* cancellation1 on ! eligible    
,f$]al ,direct ,loans made to ! borr[]  
"u ?is "p4  7iii7 ,?ird #ab-mon?        
employm5t p]iod ,aft] ! conclusion ( !  
?ird #ab-mon? employm5t p]iod describ$ 9
 p>agraph 7#a71 ! ,secret>y %all cancel 
#aj p]c5t ( ! obligation to repay !     

balance ( pr9cipal & int]e/ due z ( ! "t
 ( su* cancellation1 on ! eligible      
,f$]al ,direct ,loans made to ! borr[]  
"u ?is "p4  7iv7 ,f\r? #ab-mon?         
employm5t p]iod ,aft] ! conclusion ( !  
f\r? #ab-mon? employm5t p]iod describ$ 9
 p>agraph 7#a71 ! ,secret>y %all cancel 
#aj p]c5t ( ! obligation to repay !     
balance ( pr9cipal & int]e/ due z ( ! "t
 ( su* cancellation1 on ! eligible      
,f$]al ,direct ,loans made to ! borr[]  
"u ?is "p4  7v7 ,fif? #ab-mon? employm5t
 p]iod ,aft] ! conclusion ( ! fif?      
#ab-mon? employm5t p]iod describ$ 9     
p>agraph 7#a71 ! ,secret>y %all cancel  
#ae p]c5t ( ! obligation to repay !     
balance ( pr9cipal & int]e/ due z ( ! "t
 ( su* cancellation1 on ! eligible      
,f$]al ,direct ,loans made to ! borr[]  
"u ?is "p4  7vi7 ,six? #ab-mon?         
employm5t p]iod ,aft] ! conclusion ( !  
six? #ab-mon? employm5t p]iod describ$ 9
 p>agraph 7#a71 ! ,secret>y %all cancel 
#ae p]c5t ( ! obligation to repay !     
balance ( pr9cipal & int]e/ due z ( ! "t

 ( su* cancellation1 on ! eligible      
,f$]al ,direct ,loans made to ! borr[]  
"u ?is "p4  7vii7 ,sev5? #ab-mon?       
employm5t p]iod ,aft] ! conclusion ( !  
sev5? #ab-mon? employm5t p]iod describ$ 
9 p>agraph 7#a71 ! ,secret>y %all cancel
 #bj p]c5t ( ! obligation to repay !    
balance ( pr9cipal & int]e/ due z ( ! "t
 ( su* cancellation1 on ! eligible      
,f$]al ,direct ,loans made to ! borr[]  
"u ?is "p4  7viii7 ,eigh? #ab-mon?      
employm5t p]iod ,aft] ! conclusion ( !  
eigh? #ab-mon? employm5t p]iod describ$ 
9 p>agraph 7#a71 ! ,secret>y %all cancel
 #bj p]c5t ( ! obligation to repay !    
balance ( pr9cipal & int]e/ due z ( ! "t
 ( su* cancellation1 on ! eligible      
,f$]al ,direct ,loans made to ! borr[]  
"u ?is "p4  7ix7 ,n9? #ab-mon? employm5t
 p]iod ,aft] ! conclusion ( ! n9?       
#ab-mon? employm5t p]iod describ$ 9     
p>agraph 7#a71 ! ,secret>y %all cancel  
#cj p]c5t ( ! obligation to repay !     
balance ( pr9cipal & int]e/ due z ( ! "t
 ( su* cancellation1 on ! eligible      

,f$]al ,direct ,loans made to ! borr[]  
"u ?is "p4  7x7 ,t5? #ab-mon? employm5t 
p]iod ,aft] ! conclusion ( ! t5?        
#ab-mon? employm5t p]iod describ$ 9     
p>agraph 7#a71 ! ,secret>y %all cancel !
 rema9+ obligation to repay ! balance ( 
pr9cipal & int]e/ due z ( ! "t ( su*    
cancellation4  4  #d4 ,effective date   
7a7 ,9 g5]al ,! am5dm5ts made by ?is    
,act %all take effect on a date t is #b 
ye>s aft] ! date ( enactm5t ( ?is ,act4 
7b7 ,e>ly effective date p]mitt$ ,!     
,secret>y ( ,education may implem5t !   
am5dm5ts made by ?is ,act be=e 7b n lat]
 ?an7 ! date t is #b ye>s aft] ! date ( 
enactm5t ( ?is ,act4 ,! ,secret>y %all  
specify 9 a designation on :at date1 &  
"u :at conditions ! ,secret>y w implem5t
 su* am5dm5ts prior to a date t is #b   
ye>s aft] ! date ( enactm5t ( ?is ,act4 
,! ,secret>y %all publi% any designation
 "u ?is p>agraph 9 ! ,f$]al ,regi/] at  
lea/ #fj days be=e implem5tation4