,,ii  #aag? ,,congress  #a/ ,session    
,s4 #hba  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,m>* #ah1 #bjba,mr4    
,burr 7= himself & ,mr4 ,k+7 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     
e/abli% a simplifi$ income-driv5        
repaym5t plan1 & = o!r purposes4  #a4   
,%ort title ,?is ,act may be cit$ z !   
,repay ,act ( #bjba4  #b4 ,simplifi$    
income-driv5 repaym5t plan ,"p ,g (     
title ,,iv ( ! ,high] ,education ,act ( 
#aife 7#bj ,u4,s4,c4 #ajhh et seq47 is  
am5d$ by ins]t+ aft] section #dic;,d !  
foll[+3  #dic;,e4 ,simplifi$            
income-driv5 repaym5t plan  7a7         
,def9itions ,9 ?is section3 7#a7 ,cov]$ 
,f$]al ,direct ,loan ,! t]m cov]$ ,f$]al
 ,direct ,loan means a ,f$]al ,direct   
,/af=d ,loan1 a ,f$]al ,direct          
,unsubsidiz$ ,/af=d ,loan1 a ,f$]al     
,direct ,consolidation ,loan 7o!r ?an a 
,f$]al ,direct ,consolidation ,loan ^:  

proce$s 7 us$ to dis*>ge ! liability ( a
 ,f$]al ,direct ,,plus loan made on     
behalf ( a dep5d5t /ud5t or a loan "u   
section #dbh;,b made on behalf ( a      
dep5d5t /ud5t71 or a ,f$]al ,direct     
,,plus ,loan 7o!r ?an a ,f$]al ,direct  
,,plus ,loan made on behalf ( a dep5d5t 
/ud5t7 made "u "p ,d4  7#b7             
,discretion>y income ,! t]m discretion>y
 income means ! am\nt by :i* a borr[]'s 
7& ! borr[]'s sp\se1 if applicable7     
annual adju/$ gross income exce$s #aej  
p]c5t ( ! pov]ty l9e applicable to !    
borr[]'s family size4  7#c7             
,discretion>y income b5d po9t ,! t]m    
discretion>y income b5d po9t means      
#be1jjj1 adju/$ annually = inflation z  
det]m9$ by ! ,consum] ,price ,index 7z  
su* t]m is def9$ 9 section #dgh7;f77 = !
 previ\s cal5d> ye>4  7#d7 ,income-driv5
 calculation  7,a7 ,9 g5]al ,! t]m      
income-driv5 calculation1 :5 us$ )      
respect to a borr[]1 means ! annual     
am\nt due on ! total am\nt ( cov]$      
,f$]al ,direct ,loans1 :i* annual am\nt 

is equival5t to-- 7i7 #aj p]c5t ( !     
borr[]'s discretion>y income t is less  
?an ! discretion>y income b5d po9t1 plus
  7ii7 #ae p]c5t ( ! borr[]'s           
discretion>y income t is equal to or    
great] ?an ! discretion>y income b5d    
po9t4  7,b7 ,annual calculation ,!      
calculation "u subp>agraph 7,a7 %all be 
det]m9$ on an annual basis = ! duration 
( ! repaym5t p]iod describ$ 9 subsection
 7b74  7#e7 ,new borr[] ,! t]m new      
borr[] means a borr[] :o-- 7,a7 z (     
,july #a1 #bjbb1 has no out/&+ balance  
on a /ud5t loan made1 insur$1 or        
gu>ante$ "u "p ,b or ,d2 or  7,b7 has no
 out/&+ balance on a /ud5t loan made1   
insur$1 or gu>ante$ "u "p ,b or ,d on ! 
date ! borr[] receives a loan made "u "p
 ,d on or aft] ,july #a1 #bjbb4  7b7    
,simplifi$ income-,driv5 repaym5t plan  
au?oriz$  7#a7 ,9 g5]al ,! ,secret>y    
%all c>ry out a simplifi$ income-driv5  
repaym5t program = new borr[]s t meets !
 foll[+ requirem5ts3 7,a7 ,a new borr[] 
( any cov]$ ,f$]al ,direct ,loan may    

elect to h ! borr[]'s aggregate mon?ly  
paym5t = all su* loans equal to !       
income-driv5 calculation1 divid$ by #ab4
  7,b7 ,! hold] ( su* a loan %all apply 
! borr[]'s mon?ly paym5t "u ?is         
subsection fir/ t[>d int]e/ due on !    
loan1 next t[>d any fees due on ! loan1 
& !n t[>d ! pr9cipal ( ! loan4  7,c7    
,any int]e/ due & n paid "u subp>agraph 
7,b7-- 7i7 %all1 on ,f$]al ,direct      
,/af=d ,loans1 be paid by ! ,secret>y = 
a p]iod ( n m ?an #c ye>s aft] ! date ( 
! borr[]'s election "u subp>agraph 7,a71
 except t su* p]iod %all n include any  
p]iod dur+ :i* ! borr[] is 9 def]m5t due
 to an economic h>d%ip describ$ 9       
section #dce7o72 &  7ii7 %all be        
capitaliz$-- 7,i7 9 ! case ( a ,f$]al   
,direct ,/af=d ,loan1 subject to clause 
7i7-- 7aa7 at ! "t ! borr[] ends !      
election to make simplifi$ income-driv5 
repaym5t "u ?is subsection2 or  7bb7 at 
! "t ! borr[]'s mon?ly paym5t           
calculation "u subp>agraph 7,a7 exce$s !
 mon?ly paym5t calculation "u ! fix$    

repaym5t plan1 bas$ on a #aj-ye>        
repaym5t p]iod1 :5 ! borr[] fir/ made ! 
election "u subp>agraph 7,a72 &  7,,ii7 
9 ! case ( a ,f$]al ,direct ,unsubsidiz$
 ,/af=d ,loan-- 7aa7 at ! "t ! borr[]   
ends ! election to make simplifi$       
income-driv5 repaym5t "u ?is subsection2
 or  7bb7 at ! "t ! borr[]'s mon?ly     
paym5t calculation "u subp>agraph 7,a7  
exce$s ! mon?ly paym5t calculation "u ! 
fix$ repaym5t plan1 bas$ on a #aj-ye>   
repaym5t p]iod1 :5 ! borr[] fir/ made ! 
election "u subp>agraph 7,a74  7,d7 ,any
 pr9cipal due & n paid "u subp>agraph   
7,b7 %all be def]r$4  7,e7 ,! am\nt ( "t
 a new borr[] %all make mon?ly paym5ts  
"u subp>agraph 7,a7 may exce$ #aj ye>s4 
7,f7 ,if ! borr[] no long] wi%es to     
cont9ue ! election "u ?is subsection1   
!n-- 7i7 ! maximum mon?ly paym5t requir$
 to be paid = all cov]$ ,f$]al ,direct  
,loans %all be equal to ! mon?ly am\nt  
calculat$ "u section                    
#dbh7;b77#i77;,a77i7 or                 
#dee7;d77#a77;,a71 bas$ on a #aj-ye>    

repaym5t p]iod1 :5 ! borr[] fir/ made ! 
election describ$ 9 ?is subsection2 &   
7ii7 ! am\nt ( "t ! borr[] is p]mitt$ to
 repay su* loans may exce$ #aj ye>s4    
7,g7 ,! ,secret>y %all cancel ! out/&+  
balance ( pr9cipal & int]e/ due = a new 
borr[] ^: balance ( pr9cipal ( cov]$    
,f$]al ,direct ,loans did n exce$       
#eg1ejj on ! date ! borr[]'s repaym5t   
p]iod began1 or ^: balance ( pr9cipal ( 
cov]$ ,f$]al ,direct ,loans did n exce$ 
! maximum aggregate am\nt ( loans an    
indep5d5t und]graduate /ud5t c\ld borr[1
 pursuant to section                    
#dbh;,h7d77#d77;,b71 on ! date !        
borr[]'s f9al cov]$ ,f$]al ,direct ,loan
 0 disburs$1 :i*ev] am\nt is great]1 if 
! borr[]-- 7i7 at any "t1 elect$ to     
p>ticipate "u subp>agraph 7,a72 &  7ii7 
= #bj ye>s-- 7,i7 made mon?ly paym5ts   
pursuant to subp>agraph 7,a72 or  7,,ii7
 0 9 def]m5t due to an economic h>d%ip  
describ$ 9 section #dce7o74  7,h7 ,!    
,secret>y %all cancel ! out/&+ balance (
 pr9cipal & int]e/ due = a new borr[] ^:

 balance ( pr9cipal ( cov]$ ,f$]al      
,direct ,loans exce$$ #eg1ejj on ! date 
! borr[]'s repaym5t p]iod began1 or ^:  
balance ( pr9cipal ( cov]$ ,f$]al       
,direct ,loans exce$$ ! maximum         
aggregate am\nt ( loans an indep5d5t    
und]graduate /ud5t c\ld borr[1 pursuant 
to section #dbh;,h7d77#d77;,b71 on !    
date ! borr[]'s f9al cov]$ ,f$]al       
,direct ,loan 0 disburs$1 :i*ev] am\nt  
is great]1 if ! borr[]-- 7i7 at any "t1 
elect$ to p>ticipate "u subp>agraph     
7,a72 &  7ii7 = #be ye>s-- 7,i7 made    
mon?ly paym5ts pursuant to subp>agraph  
7,a72 or  7,,ii7 0 9 def]m5t due to an  
economic h>d%ip describ$ 9 section      
#dce7o74  7,i7 ,a borr[] may elect to   
discont9ue repaym5t pursuant to ?is     
subsection1 at any "t1 & ent] into      
repaym5t pursuant to section            
#dee7;d77#b77;,a74  7#b7 ,mon?ly paym5ts
 ,only mon?ly paym5ts made pursuant to  
p>agraph 7#a77;,a7 %all be consid]$     
eligible paym5ts t[>d ! =giv5ess (      
out/&+ loan pr9cipal & int]e/ "u        

subp>agraphs 7,g7 & 7,h7 ( p>agraph     
7#a74  7c7 ,eligibility det]m9ations ,! 
,secret>y %all annually det]m9e a       
borr[]'s eligibility = ! simplifi$      
income-driv5 repaym5t plan "u ?is       
section ?r\gh-- 7#a7 v]ification ( a    
borr[]'s annual adju/$ gross income2    
7#b7 ! annual am\nt due on ! total am\nt
 ( cov]$ ,f$]al ,direct ,loans2 &  7#c7 
su* o!r proc$ures z are necess>y to     
effectively implem5t ! simplifi$        
income-driv5 repaym5t plan "u ?is       
section4  7d7 ,special rule = m>ri$     
borr[]s fil+ sep>ately ,9 ! case ( a    
m>ri$ borr[] :o files a sep>ate ,f$]al  
income tax return1 ! ,secret>y %all     
calculate ! borr[]'s income-driv5       
calculation on ! basis ( ! borr[]'s     
total am\nt due on cov]$ ,f$]al ,direct 
,loans & ! m>ri$ c\ple's comb9$ adju/$  
gross income4 ,9 ! case ( a m>ri$ c\ple 
9 :i* bo? individuals repay _! loans "u 
?is section1 ! ,secret>y %all calculate 
ea* borr[]'s income-driv5 calculation on
 ! basis ( ea* borr[]'s total am\nt due 

on cov]$ ,f$]al ,direct ,loans & ! m>ri$
 c\ple's comb9$ adju/$ gross income     
divid$ by #b4  7e7 ,annual income       
v]ification  7#a7 ,9 g5]al ,a borr[] :o 
elects to p>ticipate 9 ! simplifi$      
income-driv5 repaym5t plan "u ?is       
section %all submit to ! ,secret>y1 on  
an annual basis1 v]ification ( !        
borr[]'s annual adju/$ gross income4    
7#b7 ,consequ5ce ( failure to submit ,) 
respect to a borr[] :o fails to submit  
to ! ,secret>y v]ification ( ! borr[]'s 
annual adju/$ gross income z requir$ "u 
p>agraph 7#a71 any mon?ly paym5ts made  
dur+ ! p]iod ! borr[] is 9 violation ( !
 requirem5t ( p>agraph 7#a7 %all n be   
consid]$ eligible paym5ts t[>d !        
=giv5ess ( out/&+ loan pr9cipal & int]e/
 "u subp>agraphs 7,g7 & 7,h7 (          
subsection 7b77#a74  4  #c4 ,/reaml9+   
repaym5t plans = new borr[]s ,section   
#dee ( ! ,high] ,education ,act ( #aife 
7#bj ,u4,s4,c4 #ajhg;e7 is am5d$-- 7#a7 
by /rik+ subsection 7d7 & ins]t+ !      
foll[+3  7d7 ,repaym5t plans  7#a7      

,design & selection = borr[]s be=e ,july
 #a1 #bjbb ,) respect to a borr[] ( a   
loan made "u ?is "p be=e ,july #a1      
#bjbb1 & consi/5t ) crit]ia e/abli%$ by 
! ,secret>y1 ! ,secret>y %all (f] su*   
borr[] a v>iety ( plans = repaym5t ( su*
 loan1 includ+ pr9cipal & int]e/ on !   
loan4 ,! borr[] %all be entitl$ to      
accel]ate1 )\t p5alty1 repaym5t on !    
borr[]'s loans "u ?is "p4 ,! borr[] may 
*oose-- 7,a7 a fix$ repaym5t plan1      
consi/5t ) subsection 7a77#a7 ( ?is     
section & ) section                     
#dbh7;b77#i77;,a77i72  7,b7 a graduat$  
repaym5t plan1 consi/5t ) section       
#dbh7;b77#i77;,a77ii72  7,c7 an ext5d$  
repaym5t plan1 consi/5t ) section       
#dbh7;b77#i77;,a77iv71 except t ! borr[]
 %all annually repay a m9imum am\nt     
det]m9$ by ! ,secret>y 9 accordance )   
section #dbh7;b77#a77,l72  7,d7 an      
income cont+5t repaym5t plan1 ) v>y+    
annual repaym5t am\nts bas$ on ! income 
( ! borr[]1 paid ov] an ext5d$ p]iod (  
"t prescrib$ by ! ,secret>y1 n to exce$ 

#be ye>s1 except t ! plan describ$ 9 ?is
 subp>agraph %all n be available to !   
borr[] ( a ,f$]al ,direct ,,plus loan   
made on behalf ( a dep5d5t /ud5t2 &     
7,e7 an income-bas$ repaym5t plan t     
enables borr[]s :o h a p>tial f9ancial  
h>d%ip to make a l[] mon?ly paym5t 9    
accordance ) section #dic;,c1 except t !
 plan describ$ 9 ?is subp>agraph %all n 
be available to ! borr[] ( a ,f$]al     
,direct ,,plus ,loan made on behalf ( a 
dep5d5t /ud5t or a ,f$]al ,direct       
,consolidation ,loan1 if ! proce$s ( su*
 loan 7 us$ to dis*>ge ! liability on   
su* ,f$]al ,direct ,,plus ,loan or a    
loan "u section #dbh;,b made on behalf (
 a dep5d5t /ud5t4  7#b7 ,design &       
selection = new borr[]s on or aft] ,july
 #a1 #bjbb ,! ,secret>y %all (f] a      
borr[] ( a loan made "u ?is "p on or    
aft] ,july #a1 #bjbb1 ! foll[+ plans =  
repaym5t ( su* loan1 includ+ pr9cipal & 
int]e/ on ! loan4 ,! borr[] %all be     
entitl$ to accel]ate1 )\t p5alty1       
repaym5t on ! borr[]'s loans "u ?is "p4 

,! borr[] may *oose-- 7,a7 a fix$       
repaym5t plan1 consi/5t ) subsection    
7a77#a7 ( ?is section & ) section       
#dbh7;b77#i77;,a77i72 or  7,b7 a        
simplifi$ income-driv5 repaym5t plan1   
consi/5t ) section #dic;,e1 except !    
plan describ$ 9 ?is subp>agraph %all n  
be available to a borr[] ( a ,f$]al     
,direct ,,plus ,loan made on behalf ( a 
dep5d5t /ud5t1 a ,f$]al ,direct         
,consolidation ,loan1 if ! proce$s ( su*
 loan 7 us$ to dis*>ge ! liability on   
su* ,f$]al ,direct ,,plus ,loan or a    
loan "u section #dbh;,b made on behalf (
 a dep5d5t /ud5t4  7#c7 ,borr[]         
non-selection ,if a borr[] ( a loan made
 "u ?is "p does n select a repaym5t plan
 describ$ 9 p>agraph 7#a7 or 7#b71 !    
,secret>y may provide ! borr[] ) a      
repaym5t plan describ$ 9 subp>agraph    
7,a71 7,b71 or 7,c7 ( p>agraph 7#a7 =   
borr[]s be=e ,july #a1 #bjbb1 or a      
repaym5t plan describ$ 9 p>agraph       
7#b77;,a7 = new borr[]s on or aft] ,july
 #a1 #bjbb4  7#d7 ,*anges 9 selections  

,! borr[] ( a loan made "u ?is "p may   
*ange ! borr[]'s selection ( a repaym5t 
plan "u p>agraph 7#a7 or 7#b71 or !     
,secret>y's selection ( a plan = !      
borr[] "u p>agraph 7#c71 z ! case may   
be1 "u su* t]ms & conditions z may be   
e/abli%$ by ! ,secret>y4  7#e7          
,alt]native repaym5t plans ,! ,secret>y 
may provide1 on a case-by-case basis1 an
 alt]native repaym5t plan to a borr[] ( 
a loan made "u ?is "p on or aft] ,july  
#a1 #bjbb1 :o demon/rates to !          
satisfaction ( ! ,secret>y t ! t]ms &   
conditions ( ! repaym5t plans available 
"u p>agraph 7#b7 are n adequate to      
accommodate ! borr[]'s exceptional      
circum/ances4 ,^u reque/1 ! ,secret>y   
%all make available = su* borr[]'s      
repaym5t plans describ$ 9 subp>agraphs  
7,b7 & 7,c7 ( p>agraph 7#a74 ,9 design+ 
su* alt]native repaym5t plans1 !        
,secret>y %all ensure t su* plans d n   
exce$ ! co/ to ! ,f$]al ,gov]nm5t1 z    
det]m9$ on ! basis ( ! pres5t value (   
future paym5ts by su* borr[]s1 ( loans  

made us+ ! plans available "u p>agraph  
7#b74  7#f7 ,repaym5t aft] default ,=   
any borr[] :o has default$ on a loan    
made "u ?is "p1 ! ,secret>y-- 7,a7 may  
require ! borr[] to pay all reasonable  
collection co/s associat$ ) su* loan2 & 
7,b7 if su* loan 0 made-- 7i7 to any    
borr[] :o1 be=e ,july #a1 #bjbb1 _h an  
out/&+ balance on a /ud5t loan made1    
insur$1 or gu>ante$ "u ?is "p or "p ,b1 
may require ! borr[] to repay ! loan    
pursuant to an income cont+5t repaym5t  
plan1 z describ$ 9 p>agraph 7#a77;,d71  
or an income-bas$ repaym5t plan1 z      
describ$ 9 p>agraph 7#a77;,e72 or  7ii7 
to a new borr[] 7z def9$ 9 section      
#dic;,e7a77#e771 may provide ! borr[] ! 
option to enroll 9 ! repaym5t plan      
describ$ 9 p>agraph 7#b77;,b74  7#g7    
,applicability provision  7,a7 ,9 g5]al 
,except z provid$ 9 p>agraph 7#e7 &     
subp>agraph 7,b71 ! repaym5t plans "u   
subp>agraphs 7,b71 7,c71 7,d71 & 7,e7 ( 
p>agraph 7#a7 are n available = a borr[]
 :o receiv$ ! borr[]'s fir/ disbursem5t 

( a ,f$]al ,direct ,loan on or aft]     
,july #a1 #bjbb4  7,b7 ,exception ,!    
repaym5t plans available to a borr[] ( a
 ,f$]al ,direct ,,plus ,loan made on    
behalf ( a dep5d5t /ud5t or a ,f$]al    
,direct ,consolidation ,loan ^: proce$s 
7 us$ to dis*>ge ! liability ( a ,f$]al 
,direct ,,plus ,loan made on behalf ( a 
dep5d5t /ud5t or a loan "u section      
#dbh;,b made on behalf ( a dep5d5t /ud5t
 on or aft] ,july #a1 #bjbb1 %all be ^? 
describ$ "u subp>agraphs 7,a71 7,b71 &  
7,c7 ( p>agraph 7#a74  2 &  7#b7 9      
subsection 7m7-- 7,a7 9 p>agraph 7#a7-- 
7i7 9 ! p>agraph head+1 by /rik+ ,9     
g5]al & ins]t+ ,borr[]s be=e ,july #a1  
#bjbb2 &  7ii7 9 ! matt] prec$+         
subp>agraph 7,a71 by /rik+ ,! ,secret>y 
& ins]t+ ,except z provid$ 9 p>agraph   
7#e71 ! ,secret>y2  7,b7 9 p>agraph     
7#b71 by ins]t+ or 7#e7 aft] p>agraph   
7#a72 &  7,c7 by add+ at ! end ! foll[+3
  7#e7 ,simplifi$ income-driv5 repaym5t 
= new borr[]s on or aft] ,july #a1 #bjbb
  7,a7 ,9 g5]al ,) respect to an        

eligible ,f$]al ,direct ,loan n 9       
default made "u ?is "p on or aft] ,july 
#a1 #bjbb1 ! ,secret>y %all cancel !    
balance ( int]e/ & pr9cipal due1 aft] ! 
conclusion ( ! employm5t p]iod describ$ 
9 p>agraph clause 7iv71 z ( ! "t ( su*  
cancellation1 on any su* loan = a borr[]
 :o-- 7i7 z ( ,july #a1 #bjbb1 _h no    
out/&+ balance on a /ud5t loan made1    
insur$1 or gu>ante$ "u ?is "p or "p ,b  
or _h no out/&+ balance on a /ud5t loan 
made1 insur$1 or gu>ante$ "u ?is "p or  
"p ,b on ! date ! borr[] receiv$ ! loan 
made "u ?is "p on or aft] ,july #a1     
#bjbb2  7ii7 has made #abj mon?ly       
paym5ts on ! eligible ,f$]al ,direct    
,loan "u a simplifi$ income-driv5       
repaym5t plan "u subsection             
7d77#b77;,b72  7iii7 is employ$ 9 a     
public s]vice job at ! "t ( su*         
=giv5ess2 &  7iv7 has be5 employ$ 9 a   
public s]vice job dur+ ! p]iod 9 :i* !  
borr[] makes ea* ( ! #abj paym5ts       
describ$ 9 clause 7ii74  7,b7 ,annual   
income v]ification ,) respect to a      

borr[] :o fails to submit to ! ,secret>y
 v]ification ( ! borr[]'s annual adju/$ 
gross income z requir$ "u section       
#dic;,e7e71 any mon?ly paym5ts made dur+
 ! p]iod ! borr[] is 9 violation ( su*  
requirem5t %all n be consid]$ eligible  
paym5ts "u subp>agraph 7,a77ii7 t[>d !  
cancellation pursuant to ?is p>agraph ( 
! balance ( int]e/ & pr9cipal due on !  
borr[]'s loan4  4  #d4 ,fix$ repaym5t   
plan ,! ,high] ,education ,act ( #aife  
7#bj ,u4,s4,c4 #ajja et seq47 is am5d$--
 7#a7 9 section                         
#aec7;a77#a77;,b77iii77,v71 by /rik+    
/&>d repaym5t plan & ins]t+ fix$        
repaym5t plan2  7#b7 9 section          
#dbh7;b77#i77;,a77i71 by /rik+ /&>d     
repaym5t plan & ins]t+ fix$ repaym5t    
plan2  7#c7 9 section #dcc7;b77#g77;,b71
 by /rik+ /&>d repaym5t plan & ins]t+   
fix$ repaym5t plan2  7#d7 9 section     
#dee-- 7,a7 9 subsection                
7e77#g77;,b77iv71 by /rik+ /&>d repaym5t
 plan & ins]t+ fix$ repaym5t plan2 &    
7,b7 9 subsection 7m77#a77;,a77ii71 by  

/rik+ /&>d repaym5t plan & ins]t+ fix$  
repaym5t plan2 &  7#e7 9 section        
#dic;,c-- 7,a7 9 subsection             
7a77#c77;,a71 by /rik+ /&>d repaym5t    
plan & ins]t+ fix$ repaym5t plan2 &     
7,b7 9 subsection 7b7-- 7i7 9 p>agraph  
7#g77;,b77iii71 by /rik+ /&>d repaym5t  
plan & ins]t+ fix$ repaym5t plan2 &     
7ii7 9 p>agraph 7#h71 by /rik+ /&>d     
repaym5t plan & ins]t+ fix$ repaym5t    
plan4  #e4 ,notification to borr[]s ab\t
 repaym5t options & alt]natives to      
default ,n lat] ?an #a ye> aft] ! date (
 enactm5t ( ?is ,act1 ! ,secret>y (     
,education %all require s]vic]s ( loans 
made1 insur$1 or gu>ante$ "u "p ,b or ,d
 ( title ,,iv ( ! ,high] ,education ,act
 ( #aife 7#bj ,u4,s4,c4 #ajga et seq4 & 
#ajhg;a et seq47 to-- 7#a7 notify       
borr[]s1 9 writ+ & ?r\gh electronic     
=mat1 ab\t all repaym5t options = :i* ! 
borr[] may qualify2  7#b7 provide       
borr[]s1 9 writ+ & ?r\gh electronic     
=mat1 in=mation ab\t alt]native repaym5t
 plans1 includ+ ! borr[]'s e/imat$      

mon?ly paym5t1 expect$ numb] ( ye>s to  
repay1 expect$ am\nt ( loan =giv5ess1   
expect$ total loan =giv5ess1 & expect$  
total pr9cipal & int]e/ paid1 associat$ 
) ea* repaym5t plan 9 a =mat t p]mits ! 
borr[] to comp>e ! curr5t repaym5t plan 
) alt]native repaym5t plans2 &  7#c7 (f]
 to enroll su* borr[]s 9 alt]native     
plans1 if eligible4  #f4 ,,gao /udy on  
improv+ enrollm5t & v]ification         
associat$ ) income-driv5 repaym5t ,n    
lat] ?an #b ye>s aft] ! date ( enactm5t 
( ?is ,act1 ! ,comptroll] ,g5]al ( !    
,unit$ ,/ates1 9 consultation ) !       
,secret>y ( ! ,treasury1 %all-- 7#a7    
complete a /udy t-- 7,a7 exam9es !      
feasibility ( simplify+ ! process =     
enroll+ 91 & v]ify+ annual eligibility  
=1 ! simplifi$ income-driv5 repaym5t    
program au?oriz$ "u ! am5dm5ts made by  
?is ,act2 &  7,b7 provides              
recomm5dations1 includ+ ^? relat+ to    
/reaml9$ income & employm5t v]ification 
& simplifi$ me?ods ( repaym5t1 =        
effici5t adm9i/ration ( income-bas$     

repaym5t programs1 includ+ ^? au?oriz$  
"u ! am5dm5ts made by ?is ,act2 &  7#b7 
prep>e & submit a report to ! ,committee
 on ,heal?1 ,education1 ,labor1 &       
,p5sions ( ! ,s5ate & ! ,committee on   
,education & ! ,work=ce ( ! ,h\se (     
,repres5tatives sett+ =? ! conclusions (
 ! /udy describ$ 9 p>agraph 7#a7 9 su* a
 mann] t ! recomm5dations includ$ 9 !   
report c in=m future reau?orizations ( !
 ,high] ,education ,act ( #aife 7#bj    
,u4,s4,c4 #ajja et seq474