,i  #aah? ,,congress  #a/ ,session  ,h4 
,r4 #dadd  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,june #ae1 #bjbc,mr4  
,ow5s 7= himself1 ,mrs4 ,mc,clain1 &    
,ms4 ,foxx7 introduc$ ! foll[+ bill2 :i*
 0 ref]r$ to ! ,committee on ,education 
& ! ,work=ce  ,a ,,bill  ,to /reaml9e & 
improve ! ,f$]al /ud5t loan repaym5t    
sy/em to protect borr[]s & taxpay]s4    
#a4 ,%ort title2 table ( cont5ts  7a7   
,%ort title ,?is ,act may be cit$ z !   
,f$]al ,assi/ance to ,initiate ,repaym5t
 ,act or ! ,,fair ,act4  7b7 ,table (   
cont5ts ,! table ( cont5ts = ?is ,act is
 z foll[s3 ,sec4 #a4 ,%ort title2 table 
( cont5ts4,sec4 #b4 ,ref]5ces4,sec4 #c4 
,return to repaym5t requirem5ts4,sec4   
#d4 ,repaym5t plans4,sec4 #e4           
,income-driv5 repaym5t assi/ance        
plan4,sec4 #f4 ,def]m5t on loans made on
 or aft] ,july #a1 #bjbd4,sec4 #g4 ,loan
 rehabilitation4,sec4 #h4 ,limitation on
 au?ority ( ,secret>y to propose or     
issue regulations & executive actions4  
#b4 ,ref]5ces ,except z o!rwise         

expressly provid$1 :5ev] 9 ?is ,act an  
am5dm5t or repeal is express$ 9 t]ms (  
an am5dm5t to1 or repeal (1 a section or
 o!r provision1 ! ref]5ce %all be       
consid]$ to be made to a section or o!r 
provision ( ! ,high] ,education ,act (  
#aife 7#bj ,u4,s4,c4 #ajja et seq474    
#c4 ,return to repaym5t requirem5ts  7a7
 ,borr[] notification  7#a7 ,notice to  
,f$]al /ud5t loan borr[]s :o receiv$    
tempor>y relief ,dur+ ! p]iod beg9n+ on 
! date ( ! enactm5t ( ?is ,act & end+ on
 ,augu/ #ca1 #bjbc1 ! ,secret>y (       
,education %all provide1 ?r\gh #b or m  
me?ods ( communication 7includ+ po/al   
mail1 telephone1 & electronic           
communication71 a total ( n few] ?an #ab
 notices to ea* borr[] ( any loan made1 
insur$1 or gu>ante$ "u title ,,iv ( !   
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajgj et seq47 indicat+-- 7,a7
 ! date on :i* su* borr[] is requir$ to 
make mon?ly paym5ts on su* a loan       
pursuant to section #bga ( ! ,fiscal    
,responsibility ,act 7,public ,law      

#aah-e72  7,b7 indicat+ ! borr[]'s      
options = repaym5t1 includ+ t su* borr[]
 may be eligible to enroll1 or may be   
automatically enroll$1 z applicable1 9  
an income driv5 repaym5t assi/ance plan 
"u section #did;,a ( ! ,high] ,education
 ,act ( #aife 7z add$ by section #e (   
?is ,act71 includ+ a brief description (
 ! plan & its associat$ b5efits2 &  7,c7
 ! options available to su* a borr[] :o 
is 9 default1 includ+-- 7i7 ! option to 
consolidate or rehabilitate ! loans "u  
section #dbh;,f7a77#e7 7z am5d$ by      
section #g ( ?is ,act72 &  7ii7 a brief 
description ( ! b5efits & consequ5ces ( 
ea* option4  7#b7 ,additional           
notification  7,a7 ,9 g5]al ,dur+ !     
p]iod describ$ 9 p>agraph 7#a71 & 9     
addition to ! notices requir$ "u su*    
subsection1 ! ,secret>y ( ,education    
%all provide ! in=mation describ$ 9     
subp>agraph 7,b7 to ea* at-risk borr[]4 
7,b7 ,at-risk borr[] outrea* ,9 c>ry+   
out subp>agraph 7,a71 ! ,secret>y (     
,education %all provide1 9 ! mann]      

describ$ 9 p>agraph 7#a71 a total ( n   
few] ?an #f notices to ea* at-risk      
borr[] indicat+-- 7i7 ! in=mation       
describ$ 9 subp>agraphs 7,a7 ?r\gh 7,c7 
( p>agraph 7#a72 &  7ii7 in=mation      
specific to su* borr[] detail+-- 7,i7 :y
 su* borr[] is receiv+ ! notice2 &      
7,,ii7 ! /eps su* borr[] may take to    
avoid del9qu5cy & default4  7#c7 ,return
 to repaym5t portal ,n lat] ?an #cj days
 aft] ! date ( ! enactm5t ( ?is ,act1 ! 
,secret>y ( ,education %all-- 7,a7      
publi%1 on a publicly accessible website
 ( ! ,dep>tm5t1 an electronic res\rce   
portal2 &  7,b7 ?r\gh ! use ( su*       
portal-- 7i7 disclose1 9 an easily      
se>*able =mat1 ! date or dates ^u :i* ! 
,secret>y c>ri$ out ! borr[]            
notifications requir$ "u p>agraphs 7#a7 
& 7#b72  7ii7 disclose copies ( any f9al
 contract modifications 7z su* t]m is   
def9$ 9 section #b4aja ( title #dh1     
,code ( ,f$]al ,regulations7 ! ,secret>y
 provid$ to ,f$]al /ud5t loan s]vic]s "u
 contract dur+ ! p]iod beg9n+ ,m>* #a1  

#bjbj & end+ ,septemb] #cj1 #bjbd1      
except t propriet>y or confid5tial      
in=mation relat$ to su* contracts or    
contract modifications1 includ+ s\rce   
selection in=mation 7z su* t]m is def9$ 
9 section #b4aja ( title #dh1 ,code (   
,f$]al ,regulations7 & any in=mation    
treat$ z confid5tial by su* a loan      
s]vic] & obta9$ by ! ,secret>y =        
purposes ( su* a f9al contract          
modification1 %all be deem$ confid5tial 
& exempt f disclosure "u ?is clause &   
section #eeb ( title #e1 ,unit$ ,/ates  
,code1 relat+ to fre$om ( in=mation2    
7iii7 provide template examples ( !     
language ! ,secret>y us$ to c>ry out !  
borr[] notifications requir$ "u         
p>agraphs 7#a7 & 7#b72 &  7iv7 provide  
examples ( social m$ia po/s = public    
/akehold]s :o wi% to amplify !          
,secret>y's communications & provide    
borr[]s ) accurate in=mation4  7#d7     
,at-risk borr[] def9$ ,9 ?is subsection1
 ! t]m at-risk borr[] means a borr[] ( a
 loan describ$ 9 p>agraph 7#a7 t is held

 by ! ,secret>y ( ,education :o1 )      
respect to any su* loan-- 7,a7 on or    
aft] ,m>* #a1 #bjbj1 0 assign$ a new    
/ud5t loan s]vic]2  7,b7 on or aft] ,m>*
 #a1 #bjbj1 ent]$ repaym5t = ! fir/ "t2 
7,c7 on or aft] ,m>* #a1 #bjbj1 0 9     
default2  7,d7 dur+ ! #b-ye> p]iod      
prec$+ ,m>* #a1 #bjbj1 miss$ a paym5t or
 paym5ts = a p]iod ( n less ?an #fj     
days2  7,e7 submitt$ an application =   
"o-"t /ud5t debt cancellation 7z        
describ$ by ! ,dep>tm5t ( ,education 9 !
 ,f$]al ,regi/] on ,octob] #ab1 #bjbb   
7#hg ,f$4 ,reg4 #faeac et seq4772 or    
7,f7 receiv$ a refund f ! ,dep>tm5t (   
,education = any paym5t made dur+ !     
p]iod beg9n+ on ,m>* #a1 #bjbj1 & end+  
on ,augu/ #ca1 #bjbc1 t1 pursuant to a  
waiv] or modification describ$ by !     
,dep>tm5t ( ,education 9 ! ,f$]al       
,regi/] on ,octob] #ab1 #bjbb 7#hg ,f$4 
,reg4 #faeac et seq471 0 n requir$4  7b7
 ,f$]al preemption ,section #def 7#bj   
,u4,s4,c4 #ajhg;f7 is am5d$ by add+ at !
 end ! foll[+3  7c7 ,f$]al ,preemption  

7#a7 ,9 g5]al ,cov]$ activities %all n  
be subject to any law or o!r requirem5t 
( any ,/ate or political subdivision ( a
 ,/ate ) respect to-- 7,a7 disclosure   
requirem5ts2  7,b7 requirem5ts or       
re/rictions on ! cont5t1 "t1 quantity1  
or frequ5cy ( communications ) borr[]s1 
endors]s1 or ref]5ces ) respect to su*  
loans2 or  7,c7 any o!r requirem5t      
relat+ to ! s]vic+ or collection ( a    
loan made "u ?is title4  7#b7 ,cov]$    
activities def9$ ,9 ?is subsection1 !   
t]m cov]$ activities means any ( !      
foll[+ activities1 z c>ri$ out by a     
qualifi$ entity3 7,a7 ,orig9ation ( a   
loan made "u ?is title4  7,b7 ,s]vic+ ( 
a loan made "u ?is title4  7,c7         
,collection ( a loan made "u ?is title4 
7,d7 ,any o!r activity relat$ to !      
activities describ$ 9 subp>agraphs 7,a7 
?r\gh 7,c74  4  7c7 ,procurem5t         
flexibility ,section #adb 7#bj ,u4,s4,c4
 #ajah;a7 is am5d$-- 7#a7 by r$esignat+ 
subsection 7l7 z subsection 7m72 &  7#b7
 by ins]t+ aft] subsection 7k7 ! foll[+3

  7l7 ,guidance to /ud5t loan s]vic]s   
7#a7 ,9 g5]al ,9 notify+ a /ud5t loan   
s]vic] ( a f9al contract modification 7z
 su* t]m is def9$ 9 section #b4aja (    
title #dh1 ,code ( ,f$]al ,regulations7 
t in/ructs su* loan s]vic] to p]=m a    
function t is new or diff]5t f a        
function su* s]vic] p]=ms pursuant to an
 exi/+ contract1 ! ,,pbo %all1 n lat]   
?an #cj days be=e su* contract *ange    
takes effect1 provide su* s]vic]s )     
writt5 guidance 9 ! =m (-- 7,a7 a *ange 
ord] 7z su* t]m is def9$ 9 section      
#b4aja ( title #dh1 ,code ( ,f$]al      
,regulations72  7,b7 a de> colleague    
lett]2 or  7,c7 an electronic           
ann\ncem5t4  7#b7 ,non-b9d+ directives  
,a /ud5t loan s]vic] t is notifi$ ( a   
f9al contract modification describ$ 9   
p>agraph 7#a7 & receives guidance 9 a =m
 o!r ?an a =m describ$ 9 p>agraph 7#a7  
7includ+ ?r\gh emails or phone calls7   
%all n be subject to su* contract       
modification4  4  7d7 ,requirem5ts      
relat+ to annual bonuses (              

p]=mance-,bas$ organization (fic]s      
,section #ada 7#bj ,u4,s4,c4 #ajah7 is  
am5d$-- 7#a7 9 subsection 7c77#d7-- 7,a7
 9 subp>agraph 7,a71 by /rik+ & at !    
end2  7,b7 9 subp>agraph 7,b71 by /rik+ 
! p]iod at ! end & ins]t+ 2 &2 &  7,c7  
by add+ at ! end ! foll[+3  7,c7 t !    
,dep>tm5t has c>ri$ out ! borr[]        
notifications requir$ "u section #c7;a7 
( ! ,,fair ,act4  2  7#b7 by am5d+      
subsection 7d77#e77;,b7 to read z       
foll[s3  7,b7 ,bonus  7i7 ,9 g5]al ,9   
addition1 subject to clause 7ii71 !     
,*ief ,op]at+ ,(fic] may receive a bonus
 9 an am\nt t does n exce$ #ej p]c5t (  
su* annual rate ( basic pay1 bas$ ^u !  
,secret>y's evaluation ( ! ,*ief ,op]at+
 ,(fic]'s p]=mance 9 relation to ! goals
 set =? 9 ! p]=mance agreem5t describ$ 9
 p>agraph 7#d74  7ii7 ,exception ,9 !   
case ( a ye> 9 :i* ! ,dep>tm5t does n   
c>ry out ! activities requir$ "u section
 #c7;a7 ( ! ,,fair ,act or comply ) !   
requirem5ts ( sections #adb7l7 or       
#def7;c71 ! ,*ief ,op]at+ ,(fic] may n  

receive a bonus describ$ 9 clause 7i74  
2 &  7#c7 by am5d+ subsection           
7e77#c77;,b7 to read z foll[s3  7,b7    
,bonus  7i7 ,9 g5]al ,9 addition1       
subject to clause 7ii71 a s5ior manag]  
may receive a bonus 9 an am\nt su* t !  
manag]'s total annual comp5sation does n
 exce$ #abe p]c5t ( ! maximum rate (    
basic pay = ! ,s5ior ,executive ,s]vice1
 includ+ any applicable locality-bas$   
comp>ability paym5t1 bas$ ^u ! ,*ief    
,op]at+ ,(fic]'s evaluation ( ! manag]'s
 p]=mance 9 relation to ! goals set =? 9
 ! p]=mance agreem5t describ$ 9 p>agraph
 7#b74  7ii7 ,exception ,9 ! case ( a   
ye> 9 :i* ! ,dep>tm5t does n c>ry out ! 
activities requir$ "u section #c7;a7 ( !
 ,,fair ,act or comply ) ! requirem5ts (
 sections #adb7l7 or #def7;c71 ! s5ior  
manag] may n receive a bonus describ$ 9 
clause 7i74  4  #d4 ,repaym5t plans  7a7
 ,direct ,loans ,section #dee7;d7 7#bj  
,u4,s4,c4 #ajhg;e7d77 is am5d$ by add+  
at ! end ! foll[+3  7#f7 ,repaym5t plans
 = loans 9 repaym5t on or aft] ,july #a1

 #bjbc  7,a7 ,design & selection        
,not)/&+ p>agraph 7#a71 & subject to    
subp>agraph 7,e71 beg9n+ on ,july #a1   
#bjbc1 ! ,secret>y %all (f] a borr[] ( a
 loan made "u ?is "p two plans =        
repaym5t ( su* loan1 includ+ pr9cipal & 
int]e/ on ! loan4 ,! borr[] %all be     
entitl$ to accel]ate1 )\t p5alty1       
repaym5t on su* loans4 ,! borr[] may    
*oose-- 7i7 a /&>d repaym5t plan ) a    
fix$ mon?ly repaym5t am\nt paid ov] a   
fix$ p]iod ( "t1 n to exce$ #aj ye>s2 or
  7ii7 an income-driv5 repaym5t         
assi/ance plan "u section #did;,a4  7,b7
 ,selection by ,secret>y ,if su* borr[] 
does n select a repaym5t plan describ$ 9
 subp>agraph 7,a71 ! ,secret>y %all     
provide ! borr[] ) ! repaym5t plan      
describ$ 9 subp>agraph 7,a77i74  7,c7   
,*anges 9 selection  7i7 ,9 g5]al       
,subject to clause 7ii71 a borr[] may   
*ange ! borr[]'s selection ( a repaym5t 
plan "u subp>agraph 7,a71 or !          
,secret>y's selection ( a plan = !      
borr[] "u subp>agraph 7,b71 z ! case may

 be4 ,no?+ 9 ?is subsection %all        
prohibit ! ,secret>y f enc\rag+ di/ress$
 borr[]s f enroll+ 9 ! income-driv5     
repaym5t assi/ance plan "u section      
#did;,a4  7ii7 ,same repaym5t plan      
requir$ ,all loans made "u ?is "p on or 
aft] ,july #a1 #bjbc1 to a borr[] %all  
be repaid "u ! same repaym5t plan "u    
subp>agraph 7,a71 except t ! borr[] may 
repay an except$ ,,plus loan or an      
except$ consolidation loan 7z su* t]ms  
are def9$ 9 section #did;,a7 sep>ately f
 o!r loans made "u ?is "p to ! borr[]4  
7,d7 ,repaym5t aft] default ,! ,secret>y
 may require a borr[] :o has default$ on
 a loan made "u ?is "p to-- 7i7 pay all 
reasonable collection co/s associat$ )  
su* loan2 &  7ii7 repay ! loan pursuant 
to ! income-driv5 repaym5t assi/ance    
plan "u section #did;,a4  7,e7 ,rules = 
exi/+ borr[]s  7i7 ,exi/+ borr[]s 9 /&>d
 or graduat$ plans ,a borr[] :o1 z ( !  
day be=e ! date ( enactm5t ( ,,fair     
,act1 0 repay+ a loan made "u ?is "p    
pursuant to a plan describ$ 9           

subp>agraph 7,a71 7,b71 or 7,c7 (       
p>agraph 7#a7 may-- 7,i7 cont9ue to     
repay su* loan pursuant to su* plan2 or 
7,,ii7 *oose to repay su* loan pursuant 
to a plan describ$ 9 clause 7i7 or 7ii7 
( subp>agraph 7,a74  7ii7 ,o!r exi/+    
borr[]s ,) respect to a borr[] :o1 z ( !
 day be=e ! date ( enactm5t ( ,,fair    
,act1 0 repay+ a loan made "u ?is "p    
pursuant to a plan describ$ 9           
subp>agraph 7,d7 or 7,e7 ( p>agraph     
7#a71 ! ,secret>y %all1 pursuant to     
section #did;,a7b71 enroll su* borr[]   
into ! income-driv5 repaym5t assi/ance  
plan "u section #did;,a4  7,f7          
,prohibition ,except z provid$ 9        
subp>agraph 7,e71 ! ,secret>y may n--   
7i7 au?orize a borr[] ( a loan made "u  
?is "p to repay su* loan pursuant to a  
repaym5t plan t is n describ$ 9 clause  
7i7 or 7ii7 ( subp>agraph 7,a72 or  7ii7
 c>ry out or modify a repaym5t plan t is
 n describ$ 9 su* clause 7i7 or 7ii74  4
  7b7 ,,ffel ,loans ,section            
#dbh7;b77#i7 is am5d$-- 7#a7 9          

subp>agraph 7,a7-- 7,a7 9 clause 7iv71  
by /rik+ & at ! end2  7,b7 9 clause 7v71
 by /rik+ ! p]iod at ! end & ins]t+ 2 &2
  7,c7 by add+ at ! end ! foll[+3  7vi7 
= any borr[] repay+1 on or aft] ,july   
#a1 #bjbc1 a loan made1 insur$1 or      
gu>ante$ "u ?is "p-- 7,i7 9 ! case ( a  
borr[] :o1 z ( ! day be=e ! date (      
enactm5t ( ,,fair ,act1 0 repay+ su*    
loan pursuant to a plan describ$ 9      
clause 7i71 7ii71 7iii71 or 7iv71       
cont9u+ to repay su* loan pursuant to   
su* plan2 or  7,,ii7 7aa7 an            
income-driv5 repaym5t assi/ance plan "u 
section #did;,a2 or  7bb7 ! /&>d        
repaym5t plan describ$ 9 clause 7i74  2 
7#b7 by add+ at ! end ! foll[+3  7,c7   
,repaym5t plans = loans 9 repaym5t on or
 aft] ,july #a1 #bjbc  7i7 ,*anges 9    
selection ,9 ! case ( any borr[] n      
describ$ 9 subp>agraph 7,a77vi77,i71 !  
borr[] may *ange ! borr[]'s selection ( 
a repaym5t plan "u subp>agraph          
7,a77vi77,,ii74 ,no?+ 9 ?is subsection  
%all prohibit ! l5d] f enc\rag+ di/ress$

 borr[]s f enroll+ 9 ! income-driv5     
repaym5t assi/ance plan "u section      
#did;,a4  7ii7 ,treatm5t ( c]ta9 borr[]s
 ,) respect to a borr[] :o1 z ( ! day   
be=e ! date ( enactm5t ( ! ,,fair ,act 0
 repay+ a loan made1 insur$1 or gu>ante$
 "u ?is "p pursuant to a plan describ$ 9
 subp>agraph 7,a77v71 ! ,secret>y %all1 
pursuant to section #did;,a7b71 enroll  
su* borr[] into an income-driv5 repaym5t
 assi/ance plan "u section #did;,a4     
7iii7 ,repaym5t aft] default ,!         
,secret>y may require a borr[] :o has   
default$ on a loan made1 insur$1 or     
gu>ante$ "u ?is "p to-- 7,i7 pay all    
reasonable collection co/s associat$ )  
su* loan2 &  7,,ii7 repay ! loan        
pursuant to ! income-driv5 repaym5t     
assi/ance plan "u section #did;,a4  7iv7
 ,prohibition ,! ,secret>y may n-- 7,i7 
au?orize a borr[] ( a loan made1 insur$1
 or gu>ante$ "u ?is "p to repay su* loan
 pursuant to a repaym5t plan t is n     
describ$ 9 subp>agraph 7,a77vi72 or     
7,,ii7 c>ry out or modify a repaym5t    

plan t is n describ$ 9 subp>agraph      
7,a77vi74  4  7c7 ,f$]al ,direct        
,consolidation ,loans ,section #dbh;,c  
7#bj ,u4,s4,c4 #ajgh-c7 is am5d$-- 7#a7 
9 subsection 7a77#c77;,b77i77,v77aa71 by
 /rik+ or income-bas$ repaym5t & ins]t+ 
1 income-bas$ repaym5t1 or income-driv5 
repaym5t assi/ance "u section #did;,a2 &
  7#b7 9 subsection 7c7-- 7,a7 9        
p>agraph 7#b77;,a7-- 7i7 9 ! fir/       
s5t5ce1 by ins]t+ 1 or a s*$ule =       
income-driv5 repaym5t assi/ance "u      
section #did;,a1 aft] s*$ules2 &  7ii7 9
 ! second s5t5ce1 by ins]t+ or by ! t]ms
 ( repaym5t pursuant to income-driv5    
repaym5t assi/ance "u section #did;,a1  
aft] subsection 7b77#e72 &  7,b7 9      
p>agraph 7#c7-- 7i7 9 subp>agraph 7,a71 
by ins]t+ or an income-driv5 repaym5t   
assi/ance s*$ule "u section #did;,a aft]
 section #dic;,c2 &  7ii7 9 subp>agraph 
7,c71 by ins]t+ or an income-bas$       
repaym5t assi/ance s*$ule "u section    
#did;,a aft] section #dic;,c4  7d7      
,repaym5t inc5tives  7#a7 ,am5dm5t      

,section #dee7;b77#i77;,c7 7#bj         
,u4,s4,c4 #ajhg;e7b77#i77;,c77 is am5d$ 
by ins]t+ 7:i* 9 ! case ( a loan = :i* !
 fir/ disbursem5t ( pr9cipal is made on 
or aft] ,july #a1 #bjbc1 may n exce$ ?an
 #j4be p]c5tage po9ts7 aft] int]e/ rate 
r$uction4  7#b7 ,application ( am5dm5t  
,! am5dm5t made by ?is section %all n   
apply to any borr[] :o is a /ud5t       
enroll$ 9 a program ( /udy at an        
in/itution ( high] education 7z def9$ 9 
section #ajb ( ! ,high] ,education ,act 
( #aife 7#bj ,u4,s4,c4 #ajjb77 z ( ,june
 #cj1 #bjbc1 or any loans made "u "p ,d 
( title ,,iv ( ! ,high] ,education ,act 
( #aife 7#bj ,u4,s4,c4 #ajhg;a et seq47 
to 7or on behalf (7 su* /ud5t1 dur+ !   
p]iod requir$ = ! completion ( su*      
program4  7e7 ,o!r con=m+ am5dm5ts  7#a7
 ,dep>tm5tal publication ( descriptions 
( assi/ance programs ,! ?ird s5t5ce (   
section #dhe7;d77#a7 is am5d$-- 7,a7 by 
/rik+ income-s5sitive & income-bas$     
repaym5t plans = loans made1 insur$ or  
gu>ante$ "u "p ,b & ins]t+              

income-s5sitive repaym5t plans & an     
income-driv5 repaym5t plan "u section   
#did;,a = loans made1 insur$ or gu>ante$
 "u "p ,b2 &  7,b7 by /rik+ &           
income-cont+5t & all t foll[s ?r\gh "u  
"p ,d & ins]t+ & an income-driv5        
repaym5t assi/ance plan "u section      
#did;,a = loans made "u "p ,d4  7#b7    
,,pslf ,section #dee7m77#a77;,a7 7#bj   
,u4,s4,c4 #ajhg;e7m77#a77;,a77 is       
am5d$-- 7,a7 by /rik+ or at ! end (     
clause 7iii72  7,b7 9 clause 7iv71 by   
/rik+ & & ins]t+ or2 &  7,c7 by ins]t+  
at ! end ! foll[+3  7v7 paym5ts "u an   
income-driv5 repaym5t assi/ance plan "u 
section #did;,a2 &  4  #e4 ,income-driv5
 repaym5t assi/ance plan  7a7           
,e/abli%m5t ( new plan ,"p ,g ( title   
,,iv 7#bj ,u4,s4,c4 #ajhh et seq47 is   
am5d$ by add+ at ! end ! foll[+3        
#did;,a4 ,income-driv5 repaym5t         
assi/ance program  7a7 ,9 g5]al ,not)/&+
 any o!r provision ( ?is ,act1 !        
,secret>y %all c>ry out a program "u    
:i*-- 7#a7 a borr[] ( any loan made1    

insur$1 or gu>ante$ "u "p ,b or ,d 7o!r 
?an an except$ ,,plus loan or except$   
consolidation loan71 may elect to h !   
borr[]'s aggregate mon?ly paym5t = all  
su* loans n exce$ ! applicable mon?ly   
paym5t = ! borr[]1 except t a borr[] may
 n be preclud$ f repay+ an am\nt t      
exce$s su* applicable mon?ly paym5t =   
any mon?2  7#b7 ! ,secret>y %all apply !
 borr[]'s mon?ly paym5t "u ?is section  
fir/ t[>d int]e/ due on su* a loan1 next
 t[>d any fees due on ! loan1 & !n t[>d 
! pr9cipal ( ! loan2  7#c7 any pr9cipal 
due & n paid "u p>agraph 7#b7 %all be   
def]r$2  7#d7 ! am\nt ( "t ! borr[]     
makes mon?ly paym5ts "u p>agraph 7#a7   
may exce$ #aj ye>s2  7#e7 ! ,secret>y   
provides ! repaym5t assi/ance = di/ress$
 borr[]s describ$ 9 subsection 7c72     
7#f7 ! ,secret>y %all repay or cancel   
any out/&+ balance ( pr9cipal & int]e/  
due on all loans made "u "p ,b or ,d    
7o!r ?an except$ ,,plus loans or except$
 consolidation loans7 to a borr[]-- 7,a7
 :o1 at any "t1 elect$ to p>ticipate 9  

income-driv5 repaym5t assi/ance "u      
p>agraph 7#a72  7,b7 ^: f9al mon?ly     
paym5t = su* loans prior to ! loan      
cancellation "u ?is p>agraph 0 made "u  
su* income-driv5 repaym5t assi/ance2 &  
7,c7 :o has repaid on su* loans         
7pursuant to income-driv5 repaym5t      
assi/ance "u p>agraph 7#a71 a /&>d      
repaym5t plan "u section                
#dbh7;b77#i77;,a77i7 or                 
#dee7;d77#f77;,a77i71 or a comb9ation ( 
any su* plan or any ( ! repaym5t plans  
li/$ 9 clauses 7i7 ?r\gh 7iv7 ( section 
#dic;,c7b77#g77;,b71 or 9 ! case ( a    
consolidation loan1 pursuant to a       
repaym5t s*$ule describ$ clause         
7i77,,ii7 ( ?is subp>agraph7 an am\nt t 
is equal to-- 7i7 7,i7 ! total am\nt (  
pr9cipal & int]e/ t ! borr[] w\ld h     
repaid "u a /&>d repaym5t plan "u       
section #dbh7;b77#i77;,a77i71 or        
p>agraph 7#a77;,a7 or 7#f77;,a77i7 (    
section #dee7;d71 bas$ on a #aj-ye>     
repaym5t p]iod1 :5 ! borr[] ent]$       
repaym5t on su* loans2 or  7,,ii7 9 !   

case ( a ,f$]al ,direct ,consolidation  
,loan or loans made "u section #dbh;,c1 
! total am\nt ( pr9cipal & int]e/ t !   
borr[] w\ld h repaid "u ! repaym5t      
s*$ule e/abli%$ = ! loan "u section     
#dbh;,c7c77#b7 on ! date on :i* su* loan
 0 made2 plus  7ii7 an am\nt equal to ! 
am\nt ( any unpaid int]e/ t has accru$1 
b 0 n includ$ 9 ! calculation ( ! total 
am\nt ( pr9cipal & int]e/ t w\ld h be5  
repaid "u ! /&>d repaym5t plan or s*$ule
 describ$ 9 clause 7i7-- 7,i7 dur+ any  
def]m5t p]iod describ$ 9 clause 7i7 or  
7ii7 ( section #dee7;f77#b77;,a7 or dur+
 any p]iod ( def]m5t "u subp>agraph 7,a7
 or 7,b7 ( section #dfj;,a7b77#a72 &    
7,,ii7 dur+ any =be>ance p]iod :ile s]v+
 9 a m$ical or d5tal int]n%ip or        
resid5cy program z describ$ 9 section   
#dbh7;c77#c77;,a77i77,i7 or subp>agraph 
7,f7 ( section #dfj;,a7b77#a72  7#g7 9  
repay+ "u p>agraph 7#f7 ! out/&+ balance
 ( pr9cipal & int]e/ due on a loan made 
"u "p ,b to a borr[] :o meets !         
requirem5ts ( p>agraph 7#f71 ! ,secret>y

 %all-- 7,a7 ent] into an agreem5t ) !  
hold] ( su* loan 7or1 if ! hold] acts z 
an eligible l5d] tru/ee = ! b5eficial   
own] ( ! loan1 ! b5eficial own] ( !     
loan7 = ! purpose ( assum+ ! repaym5t   
obligations ( ! borr[] 9 accordance )   
subp>agraph 7,b71 except t ! ,secret>y  
%all n assign to ! ,unit$ ,/ates ! "r to
 su* loan2  7,b7 assume ! obligation ( !
 borr[] to repay ! hold] ( su* loan 7or1
 if ! hold] acts z an eligible l5d]     
tru/ee = ! b5eficial own] ( ! loan1 !   
b5eficial own] ( ! loan7 ! total am\nt (
 pr9cipal & int]e/ rema9+ to be repaid  
on su* loan 7aft] tak+ into acc\nt !    
am\nts repaid by ! borr[] pursuant to   
p>agraph 7#f7 & ! ,secret>y "u          
subsection 7c71 if applicable7 accord+  
to ! t]ms & conditions1 includ+ !       
repaym5t s*$ule1 t 7 9 effect ) respect 
to su* loan on ! day be=e ! ,secret>y   
assumes su* obligation2 &  7,c7 ensure t
 ! hold] ( su* loan 7or1 if ! hold] acts
 z an eligible l5d] tru/ee = ! b5eficial
 own] ( ! loan1 ! b5eficial own] ( !    

loan7 %all1 ^u ent]+ into an agreem5t   
describ$ 9 subp>agraph 7,a7 ) respect to
 a loan ( a borr[]1 reports to consum]  
report+ ag5cies t ! borr[]'s liability  
on su* loan has be5 dis*>g$2  7#h7 a    
borr[] :o is repay+ a loan pursuant to  
income-driv5 repaym5t "u p>agraph 7#a7  
may elect1 at any "t1 to t]m9ate        
repaym5t pursuant to su* income-driv5   
repaym5t assi/ance & repay su* loan "u !
 /&>d repaym5t plan "u section          
#dee7;d77#f77;,a77i72  7#i7 9 ! case ( a
 borr[] :o1 z ( ! date be=e ! date (    
enactm5t ( ! ,,fair ,act1 0 repay+ any  
loan made1 insur$1 or gu>ante$ "u "p ,b 
or ,d 7o!r ?an an except$ ,,plus loan or
 except$ consolidation loan7 pursuant to
 an income-bas$ repaym5t plan describ$ 9
 section #dic;,c or an income-cont+5t   
repaym5t plan describ$ 9 section        
#dee7;d77#a77;,d71 :i* has a t]m or     
condition 7includ+ a t]m or condition   
relat$ to loan =giv5ess or cancellation1
 requir$ mon?ly paym5ts1 or int]e/      
subsidies7 t is m favorable = su* borr[]

 ?an a simil> t]m or condition "u !     
income-driv5 repaym5t assi/ance plan "u 
p>agraph 7#a71 ! ,secret>y %all apply ! 
m favorable t]m or condition to !       
income-driv5 repaym5t assi/ance plan "u 
p>agraph 7#a7 pursuant to :i* ! borr[]  
is repay+ su* loan1 9 lieu ( ! simil>1  
less favorable t]m or condition2 &      
7#aj7 ! special all[ance paym5t to a    
l5d] calculat$ "u section #dch1 :5      
calculat$ = a loan 9 repaym5t "u ?is    
section1 %all be calculat$ on ! pr9cipal
 balance ( ! loan & on any accru$ int]e/
 unpaid by ! borr[] 9 accordance ) ?is  
section4  7b7 ,eligibility det]m9ations 
& notification requirem5t ,! ,secret>y  
%all e/abli% & implem5t ) respect to any
 borr[] :o is 7or w be7 repay+ a loan   
pursuant to income-driv5 repaym5t       
assi/ance "u ?is section1 proc$ures to--
 7#a7 enroll into su* income-driv5      
repaym5t assi/ance plan1 any borr[] :o1 
z ( ! date be=e ! date ( enactm5t ( !   
,,fair ,act1 0 repay+ a loan pursuant to
 an income-bas$ repaym5t plan describ$ 9

 section #dic;,c or an income-cont+5t   
repaym5t plan describ$ 9 section        
#dee7;d77#a77;,d71 )\t fur!r action f ! 
borr[]1 o!r ?an any action relat$ to    
compliance ) ! rec]tification           
requirem5ts applicable to ! borr[] "u   
section #did7;a77#d77;,b72  7#b7 notify 
! borr[] ( ! t]ms & conditions ( su*    
plan2  7#c7 use return in=mation        
disclos$ "u section #fajc7l77#ac7 ( !   
,int]nal ,rev5ue ,code ( #aihf1 pursuant
 to approval provid$ "u section #did1 to
 det]m9e ! repaym5t obligation ( !      
borr[] )\t fur!r action by ! borr[]2    
7#d7 all[ ! borr[] 7or ! sp\se ( !      
borr[]71 at any "t1 to opt out (        
disclosure "u su* section #fajc7l77#ac7 
& in/ead provide su* in=mation z !      
,secret>y may require to det]m9e !      
repaym5t obligation ( ! borr[] 7or )draw
 f ! repaym5t plan "u ?is section72 &   
7#e7 provide ! borr[] ) an opportunity  
to update ! return in=mation s disclos$ 
be=e ! det]m9ation ( ! repaym5t         
obligation ( ! borr[]4  7c7 ,repaym5t   

assi/ance = di/ress$ borr[]s  7#a7      
,excessive int]e/ ,= ea* mon? = :i* a   
borr[]'s aggregate mon?ly paym5t "u ?is 
section is insuffici5t to pay ! total   
am\nt ( int]e/ t accrues on a loan = !  
mon?1 ! am\nt ( int]e/ accru$ & n paid =
 ! mon? %all be subtract$ f ! total     
am\nt ( int]e/ due on su* loan = ! mon?4
  7#b7 ,repaym5t cr$it ,= ea* mon? = :i*
 a borr[]'s aggregate mon?ly paym5t "u  
?is section repays an am\nt due on an   
individual loan t is less ?an twice !   
total am\nt ( int]e/ t accrues on su*   
loan = ! mon?1 ! am\nt ( ! total        
pr9cipal due on su* loan %all be r$uc$  
by an am\nt equal to half ( ! mon?ly    
paym5t "u ?is section on su* loan = !   
mon?4  7#c7 ,application to borr[]s )   
c]ta9 adju/$ gross incomes ,) respect to
 any borr[] ^: adju/$ gross income      
exce$s #cjj p]c5t ( ! pov]ty l9e        
applicable to ! borr[]'s family size z  
det]m9$ "u section #fgc7b7 ( !          
,community ,s]vices ,block ,grant ,act  
7#db ,u4,s4,c4 #iijb7b771 p>agraph 7#a7 

or 7#b7 may only apply to su* borr[] =  
any mon? 9 :i* ! borr[]'s aggregate     
mon?ly paym5t "u ?is section is equal to
 or great] ?an ! am\nt obta9$ by apply+ 
subsection 7e77#b7 by sub/itut+ #ae     
p]c5t = #aj p]c5t ) respect to su*      
borr[]4  7d7 ,prohibition ,9 c>ry+ out !
 requirem5ts ( subsection 7a77#g71 !    
,secret>y may n-- 7#a7 revoke ! rights  
to a special all[ance "u section #dch ( 
! hold] 7or1 if ! hold] acts z an       
eligible l5d] tru/ee = ! b5eficial own] 
( ! loan1 ! b5eficial own] ( ! loan7 ( !
 loans be+ repaid by ! ,secret>y "u     
subsection 7a77#g72  7#b7 prepay any su*
 loan ahead ( ! loan's repaym5t s*$ule  
ref]5c$ 9 subsection 7a77#g77;,b72 or   
7#c7 use any au?ority or take any       
actions beyond :at is au?oriz$          
explicitly 9 subsection 7a77#g74  7e7   
,def9itions ,9 ?is section3 7#a7 ,adju/$
 gross income ,! t]m adju/$ gross income
 has ! mean+ giv5 ! t]m 9 section #fb ( 
! ,int]nal ,rev5ue ,code ( #aihf4  7#b7 
,applicable mon?ly paym5t ,! t]m        

applicable mon?ly paym5t means1 :5 us$ )
 respect to a borr[]1 ! am\nt obta9$ by 
divid+ by #ab1 #aj p]c5t ( ! result     
obta9$ by calculat+1 on at lea/ an      
annual basis1 ! am\nt by :i*-- 7,a7 !   
adju/$ gross income ( ! borr[] or1 if ! 
borr[] is m>ri$ & files a ,f$]al income 
tax return jo9tly ) or sep>ately f !    
borr[]'s sp\se1 ! adju/$ gross income ( 
! borr[] & ! borr[]'s sp\se2 exce$s     
7,b7 #aej p]c5t ( ! pov]ty l9e          
applicable to ! borr[]'s family size z  
det]m9$ "u section #fgc7b7 ( !          
,community ,s]vices ,block ,grant ,act  
7#db ,u4,s4,c4 #iijb7b774  7#c7 ,except$
 ,consolidation ,loan ,! t]m except$    
,consolidation ,loan means a ,f$]al     
,direct ,consolidation ,loan1 if !      
proce$s ( su* loan 7 us$ to ! dis*>ge ! 
liability on-- 7,a7 an except$ ,,plus   
loan2 or  7,b7 a ,f$]al ,direct         
,consolidation loan1 if ! proce$s ( su* 
loan 7 us$ to dis*>ge ! liability on an 
except$ ,,plus loan4  7#d7 ,except$     
,,plus ,loan ,! t]m except$ ,,plus ,loan

 has ! mean+ giv5 ! t]m 9 section       
#dic;,c4  4  7b7 ,proc$ure & requirem5ts
 = reque/+ tax return in=mation f !     
,,irs ,section #did7;a7 7#bj ,u4,s4,c4  
#ajih;h7a77 is am5d$ by add+ at ! end ! 
foll[+3  7#d7 income-driv5 repaym5t     
assi/ance = loans 9 repaym5t on or aft] 
,july #a1 #bjbc  7,a7 ,new applicants ,9
 ! case ( any writt5 or electronic      
application by an individual = an       
income-driv5 repaym5t plan "u section   
#did;,a = a loan made "u "p ,b or ,d1 ! 
,secret>y1 ) respect to su* individual &
 any sp\se ( su* individual1 %all-- 7i7 
provide to su* individuals !            
notification describ$ 9 p>agraph        
7#a77;,a77i72 &  7ii7 require1 z a      
condition ( eligibility = su* repaym5t  
plan1 t su* individuals-- 7,i7          
affirmatively approve ! disclosures     
describ$ 9 subclauses 7,i7 & 7,,ii7 (   
p>agraph 7#a77;,a77i71 to ! ext5t       
applicable1 & agree t su* approval %all 
s]ve z an ongo+ approval ( su*          
disclosures until ! date on :i* !       

individual elects to opt out ( su*      
disclosures "u section #did;,a7b77#c72  
or  7,,ii7 provide su* in=mation z !    
,secret>y may require to confirm !      
eligibility ( su* individual = su*      
repaym5t plan4  7,b7 ,rec]tifications ,9
 ! case ( an individual :om ! ,secret>y 
enrolls1 pursuant to section            
#did;,a7b77#a71 9 an income-driv5       
repaym5t assi/ance plan "u section      
#did;,a1 ! ,secret>y %all meet !        
requirem5ts ( clauses 7i7 & 7ii7 (      
subp>agraph 7,a71 ) respect to su*      
individual & any sp\se ( su* individual1
 = ! fir/ writt5 or electronic          
rec]tification ( su* individual's income
 or family size = purposes ( su*        
income-driv5 repaym5t assi/ance plan4  4
  #f4 ,def]m5t on loans made on or aft] 
,july #a1 #bjbd  7a7 ,9 g5]al ,"p ,d (  
title ,,iv 7#bj ,u4,s4,c4 #ajhg;e et    
seq47 is am5d$ by add+ at ! end !       
foll[+3  #dfj;,a4 ,def]m5t on loans made
 on or aft] ,july #a1 #bjbd  7a7 ,effect
 on pr9cipal & int]e/  7#a7 ,9 g5]al    

7,a7 ,requirem5ts = borr[]s ,subject to 
subp>agraph 7,b71 a borr[] ( a loan made
 "u ?is "p on or aft] ,july #a1 #bjbd-- 
7i7 :o meets ! requirem5ts describ$ 9   
subsection 7b7 %all be eligible = a     
def]m5t on su* loan dur+ :i* in/allm5ts 
( pr9cipal ne$ n be paid &1 z specifi$ 9
 p>agraph 7#b71 int]e/ %all n accrue1 or
 %all accrue & be paid by ! borr[]2 &   
7ii7 may n be eligible = a def]m5t or   
=be>ance "u section #dee7;f7 or any o!r 
provision ( ?is ,act 7o!r ?an a =be>ance
 "u section #dee7l71 a =be>ance "u      
section #fhe4bje7;a7 ( title #cd1 ,code 
( ,f$]al ,regulations 7or successor     
regulations71 or a def]m5t "u section   
#dic;,d74  7,b7 ,exceptions = borr[]s   
enroll$ 9 c]ta9 programs ( /udy ,any    
borr[] :o is /ud5t :o is enroll$ 9 a    
program ( /udy at an in/itution ( high] 
education z ( ,june #cj1 #bjbd1 or any  
loans made to 7or on behalf (7 su*      
borr[]1 dur+ ! p]iod requir$ = !        
completion ( su* program7 %all n be     
subject to ?is section  7#b7 ,effect on 

int]e/  7,a7 ,no accrual ( int]e/ on    
subsidiz$ loans ,) respect to a def]m5t 
p]iod describ$ 9 subp>agraphs 7,a7 ?r\gh
 7,d7 ( subsection 7b77#a71 or 7b77#f7  
int]e/-- 7i7 %all n accrue1 9 ! case (  
a-- 7,i7 ,f$]al ,direct ,/af=d ,loan2 or
  7,,ii7 a ,f$]al ,direct ,consolidation
 ,loan t consolidat$ only ,f$]al ,direct
 ,/af=d ,loans1 or a comb9ation ( su*   
loans & ,f$]al ,/af=d ,loans = :i* !    
/ud5t borr[] receiv$ an int]e/ subsidy  
"u section #dbh2 or  7ii7 %all accrue or
 be paid by ! borr[]1 9 ! case ( a      
,f$]al ,direct ,,plus ,loan1 a ,f$]al   
,direct ,unsubsidiz$ ,/af=d ,loan1 or a 
,f$]al ,direct ,consolidation ,loan n   
describ$ 9 clause 7i77,,ii74  7,b7      
,int]e/ accrual on all loans ,) respect 
to a def]m5t p]iod describ$ 9           
subp>agraph 7,e7 or 7,f7 ( subsection   
7b77#a71 or p>agraph 7#b71 7#c77;,a71 or
 7#d71 int]e/ %all accrue or be paid by 
! borr[]1 9 ! case ( any loan made "u   
?is "p4  7,c7 ,no accrual ( int]e/ on   
any loan ,) respect to a def]m5t p]iod  

describ$ 9 p>agraph 7#c77;,b7 or        
p>agraph 7#e71 int]e/ %all n accrue1 9 !
 case ( any loan made "u ?is "p4  7b7   
,eligibility ,any borr[] describ$ 9     
subsection 7a7 %all be eligible = a     
def]m5t on a loan made "u ?is "p on or  
aft] ,july #a1 #bjbd-- 7#a7 dur+ any    
p]iod dur+ :i* ! borr[]-- 7,a7 is c>ry+ 
at lea/ "o-half ! normal full-"t "w load
 = ! c\rse ( /udy t ! borr[] is pursu+1 
z det]m9$ by ! eligible in/itution !    
borr[] is att5d+2  7,b7 is pursu+ a     
c\rse ( /udy pursuant to-- 7i7 an       
eligible graduate fell[%ip program 9    
accordance ) subsection 7g72 or  7ii7 an
 eligible rehabilitation tra9+ program =
 individuals ) disabilities 9 accordance
 ) subsection 7i72  7,c7 is s]v+ on     
active duty dur+ a w> or o!r milit>y    
op]ation or national em]g5cy1 & = !     
#ahj-;day p]iod foll[+ ! demobilization 
date = su* s]vice2  7,d7 is p]=m+       
qualify+ ,national ,gu>d duty dur+ a w> 
or o!r milit>y op]ation or national     
em]g5cy1 & = ! #ahj-;day p]iod foll[+ ! 

demobilization date = su* s]vice2  7,e7 
is a memb] ( ! ,national ,gu>d :o is n  
eligible = a po/-active duty def]m5t "u 
section #dic;,d & is engag$ 9 active    
,/ate duty = a p]iod ( m ?an #cj        
consecutive days beg9n+-- 7i7 ! day aft]
 #f mon?s aft] ! date ! /ud5t ceases to 
c>ry at lea/ "o-half ! normal full-"t   
academic workload 7z det]m9$ by !       
in/itution72 or  7ii7 ! day aft] !      
borr[] ceases enrollm5t on at lea/ a    
half-"t basis1 = a loan 9 repaym5t2 or  
7,f7 is s]v+ 9 a m$ical or d5tal        
int]n%ip or resid5cy program1 !         
successful completion ( :i* is requir$  
to beg9 pr(essional practice or s]vice1 
or is s]v+ 9 a m$ical or d5tal int]n%ip 
or resid5cy program lead+ to a degree or
 c]tificate aw>d$ by an in/itution (    
high] education1 a hospital1 or a heal? 
c>e facility t (f]s po/graduate tra9+2  
7#b7 dur+ a p]iod suffici5t to enable ! 
borr[] to resume honor+ ! agreem5t to   
repay ! out/&+ balance ( pr9cipal &     
int]e/ on ! loan aft] default1 if-- 7,a7

 ! borr[] signs a new agreem5t to repay 
su* out/&+ balance2  7,b7 ! def]m5t     
p]iod is limit$ to #abj days2 &  7,c7   
su* def]m5t is n grant$ = consecutive   
p]iods2  7#c7 dur+ a p]iod (            
adm9i/rative def]m5t-- 7,a7 describ$ 9  
p>agraphs 7#a7 ?r\gh 7#d7 ( subsection  
7j72 or  7,b7 describ$ 9 subsection     
7j77#e72  7#d7 9 ! case ( a borr[] ( an 
except$ ,,plus ,loan or an except$      
,consolidation ,loan1 dur+ a p]iod      
describ$ 9 subsection 7k72  7#e7 dur+ a 
p]iod 9 :i* su* borr[] is receiv+       
treatm5t = canc] 79 ?is p>agraph ref]r$ 
to z ! treatm5t p]iod71 & ! #f-mon?     
p]iod aft] su* treatm5t p]iod 79 ?is    
p>agraph ref]r$ to z ! po/-treatm5t     
p]iod71 except t1 not)/&+ subsection    
7a71 int]e/ %all n accrue dur+ any su*  
treatm5t p]iod or po/-treatm5t p]iod2 or
  7#f7 dur+ a p]iod1 n to exce$ an      
aggregate ( #ahj days1 9 :i* ! borr[]-- 
7,a7 is ! sp\se ( a memb] ( ! ,arm$     
,=ces s]v+ on active duty2 &  7,b7 has  
exp]i5c$ a loss ( employm5t z a result (

 relocation to accommodate a p]man5t    
*ange 9 duty /ation ( su* memb]4  7c7   
,l5g? ( def]m5t ,a def]m5t grant$ by !  
,secret>y "u subp>agraph 7,f7 (         
subsection 7b77#a7 %all-- 7#a7 be       
r5ewable at #ab mon? int]vals2 &  7#b7  
equal ! l5g? ( "t rema9+ 9 ! borr[]'s   
m$ical or d5tal int]n%ip or resid5cy    
program4  7d7 ,reque/ & docum5tation ,! 
,secret>y %all det]m9e ! eligibility ( a
 borr[] = a def]m5t-- 7#a7 "u p>agraph  
7#a71 7#b71 or 7#d7 ( subsection 7b71   
bas$ on-- 7,a7 ! receipt ( a reque/ = a 
def]m5t f ! borr[]1 & docum5tation ( !  
borr[]'s eligibility = ! def]m5t2  7,b7 
receipt ( a complet$ loan application t 
docum5ts ! borr[]'s eligibility = a     
def]m5t2  7,c7 receipt ( a /ud5t /atus  
in=mation docum5t+ t ! borr[] is enroll$
 on at lea/ a half-"t basis2 or  7,d7 ! 
,secret>y's confirmation ( ! borr[]'s   
half-"t enrollm5t /atus1 if !           
confirmation is reque/$ by ! in/itution 
( high] education2 &  7#b7 "u p>agraph  
7#f7 bas$ on-- 7,a7 7i7 evid5ce t !     

borr[] is ! sp\se ( a memb] ( ! ,arm$   
,=ces s]v+ on active duty2  7ii7 evid5ce
 t a milit>y p]man5t *ange ( /ation ord]
 0 issu$ to su* memb]2 &  7iii7 7,i7    
evid5ce t ! borr[] is eligible =        
unemploym5t b5efits due to a loss (     
employm5t result+ f relocation to       
accommodate su* p]man5t *ange 9 duty    
/ation2 or  7,,ii7 a writt5             
c]tification1 or an equival5t z approv$ 
by ! ,secret>y1 t ! borr[] is regi/]$ ) 
a public or private employm5t ag5cy due 
to a loss ( employm5t result+ f         
relocation to accommodate su* p]man5t   
*ange 9 duty /ation2 or  7,b7 su* o!r   
docum5tation z ! ,secret>y det]m9es     
appropriate4  7e7 ,notification ,!      
,secret>y %all-- 7#a7 notify a borr[] ( 
a loan made "u ?is "p-- 7,a7 ! grant+ ( 
a def]m5t "u ?is subsection on su* loan2
 &  7,b7 ! option ( ! borr[] to cont9ue 
mak+ paym5ts on ! out/&+ balance (      
pr9cipal & int]e/ on su* loan 9         
accordance ) subsection 7f72  7#b7 at ! 
"t ! ,secret>y grants a def]m5t to a    

borr[] ( a loan made "u ?is "p1 & n less
 frequ5tly ?an once e #ahj days dur+ !  
p]iod ( su* def]m5t1 provide in=mation  
to ! borr[] to assi/ ! borr[] 9         
und]/&+-- 7,a7 ! effect ( grant+ a      
def]m5t on ! total am\nt to be paid "u !
 income-driv5 repaym5t plan "u #did;,a2 
7,b7 int]e/ %all n accrue1 or %all      
accrue or be paid by ! borr[]1 z        
specifi$ 9 subsection 7a77#b72  7,c7 !  
am\nt ( unpaid pr9cipal & ! am\nt (     
int]e/ t has accru$ s9ce ! la/ /atem5t (
 su* am\nts provid$ to ! borr[]2 &  7,d7
 ! borr[]'s option to discont9ue !      
def]m5t at any "t4  7f7 ,paym5ts by     
borr[]s au?oriz$ ,a borr[] may make     
paym5ts on ! out/&+ balance ( pr9cipal &
 int]e/ on a loan made "u ?is "p dur+   
any p]iod ( def]m5t grant$ "u ?is       
subsection4  7g7 ,graduate fell[%ip     
def]m5t  7#a7 ,9 g5]al ,a borr[] ( a    
loan "u ?is "p is eligible = a def]m5t  
"u subsection 7b77#a77;,b77i7 dur+ any  
p]iod = :i* an au?oriz$ (ficial ( !     
borr[]'s graduate fell[%ip program      

c]tifies t ! borr[] meets ! requirem5ts 
( p>agraph 7#b7 & is pursu+ a c\rse (   
/udy pursuant to an eligible graduate   
fell[%ip program4  7#b7 ,borr[]         
requirem5ts ,a borr[] meets !           
requirem5ts ( ?is subp>agraph if !      
borr[]-- 7,a7 holds at lea/ a           
baccalaureate degree conf]r$ by an      
in/itution ( high] education2  7,b7 has 
be5 accept$ or recomm5d$ by an          
in/itution ( high] education =          
acceptance on a full-"t basis into an   
eligible graduate fell[%ip program2 &   
7,c7 is n s]v+ 9 a m$ical int]n%ip or   
resid5cy program1 except = a resid5cy   
program 9 d5ti/ry4  7h7 ,treatm5t ( /udy
 outside ! ,unit$ ,/ates  7#a7 ,9 g5]al 
,! ,secret>y %all treat1 9 ! same mann] 
z requir$ "u section #dbh7;b77#d71 any  
c\rse ( /udy at a =eign univ]sity t is  
accept$ = ! completion ( a recogniz$    
int]national fell[%ip program by !      
adm9i/rator ( su* a program z an        
eligible graduate fell[%ip program4     
7#b7 ,reque/s = def]m5t ,reque/s =      

def]m5t ( repaym5t ( loans "u ?is       
subsection by /ud5ts engag$ 9 graduate  
or po/graduate fell[%ip-support$ /udy   
7su* z pursuant to a ,fulbright grant7  
outside ! ,unit$ ,/ates %all be approv$ 
until completion ( ! p]iod ( ! fell[%ip1
 9 ! same mann] z requir$ "u section    
#dbh7;b77#d74  7i7 ,rehabilitation tra9+
 program def]m5t ,a borr[] ( a loan "u  
?is "p is eligible = a def]m5t "u       
subsection 7b77#a77;,b77ii7 dur+ any    
p]iod = :i* an au?oriz$ (ficial ( !     
borr[]'s rehabilitation tra9+ program   
c]tifies t ! borr[] is pursu+ an        
eligible rehabilitation tra9+ program = 
individuals ) disabilities4  7j7        
,adm9i/rative def]m5ts ,! ,secret>y may 
grant a def]m5t to a borr[] )\t requir+ 
a reque/ & docum5tation f ! borr[] "u   
subsection 7d7 =-- 7#a7 a p]iod dur+ :i*
 ! borr[] 0 del9qu5t at ! "t a def]m5t  
is grant$1 includ+ a p]iod = :i* s*$ul$ 
paym5ts ( pr9cipal & int]e/ 7 ov]due at 
! "t su* def]m5t is grant$2  7#b7 a     
p]iod dur+ :i* ! borr[] 0 grant$ a      

def]m5t "u ?is subsection b = :i* !     
,secret>y det]m9es ! borr[] %\ld n h    
qualifi$2  7#c7 a p]iod necess>y = !    
,secret>y to det]m9e ! borr[]'s         
eligibility = ! cancellation ( !        
obligation ( ! borr[] to repay ! loan "u
 section #dcg2  7#d7 a p]iod dur+ :i* ! 
,secret>y has au?oriz$ def]m5t due to a 
national milit>y mobilization or o!r    
local or national em]g5cy2 or  7#e7 a   
p]iod n to exce$ #fj days1 dur+ :i*     
int]e/ %all accrue b n be capitaliz$1 if
 ! ,secret>y reasonably det]m9es t a    
susp5sion ( collection activity is      
w>rant$ to enable ! ,secret>y to process
 support+ docum5tation relat+ to a      
borr[]'s reque/-- 7,a7 = a def]m5t "u   
?is subsection2  7,b7 = a *ange 9       
repaym5t plan "u section #dee7;d77#f72  
or  7,c7 to consolidate loans "u ?is "p4
  7k7 ,def]m5ts = except$ ,,plus ,loans 
or except$ consolidation loans  7#a7 ,9 
g5]al ,a qualifi$ borr[] %all be        
eligible = def]m5ts "u p>agraphs 7#c7   
?r\gh 7#e74  7#b7 ,qualifi$ borr[] def9$

 ,9 ?is subsection1 ! t]m qualifi$      
borr[] means a borr[] ( an except$      
,,plus ,loan or an except$ consolidation
 loan4  7#c7 ,economic h>d%ip def]m5t   
7,a7 ,9 g5]al ,a qualifi$ borr[] %all be
 eligible = a def]m5t dur+ p]iods1 n to 
exce$ #c ye>s 9 total1 dur+ :i* !       
qualifi$ borr[] exp]i5ces an economic   
h>d%ip describ$ 9 subp>agraph 7,b74     
7,b7 ,economic h>d%ip ,an economic      
h>d%ip describ$ 9 ?is clause is a p]iod 
dur+ :i* ! qualifi$ borr[]-- 7i7 is     
receiv+ paym5t "u a means-te/$ b5efit   
program2  7ii7 is employ$ full-"t & !   
mon?ly gross income ( ! qualifi$ borr[] 
does n exce$ ! great] (-- 7,i7 ! m9imum 
wage rate describ$ 9 section #f ( !     
,fair ,labor ,/&>ds ,act ( #aich 7#bi   
,u4,s4,c4 #bjf72 or  7,,ii7 an am\nt    
equal to #aej p]c5t ( ! pov]ty l9e2 or  
7iii7 demon/rates t ! sum ( ! qualifi$  
borr[]'s mon?ly paym5ts on ! qualifi$   
borr[]'s except$ ,,plus ,loan or an     
except$ consolidation loan is n less ?an
 #bj p]c5t ( ! qualifi$ borr[]'s mon?ly 

gross income4  7,c7 ,eligibility ,to be 
eligible to receive a def]m5t "u ?is    
subp>agraph1 a qualifi$ borr[] %all     
submit to ! ,secret>y-- 7i7 = ! fir/    
p]iod ( def]m5t "u ?is subp>agraph1     
evid5ce %[+ ! mon?ly gross income ( !   
qualifi$ borr[]2 &  7ii7 = a subsequ5t  
p]iod ( def]m5t t beg9s less ?an "o ye> 
aft] ! end ( a p]iod ( def]m5t grant$ "u
 ?is subp>agraph-- 7,i7 evid5ce %[+ !   
mon?ly gross income ( ! qualifi$ borr[]2
 or  7,,ii7 ! qualifi$ borr[]'s mo/     
rec5tly fil$ ,f$]al income tax return1  
if su* a return 0 fil$ 9 ei!r ( ! two   
tax ye>s prec$+ ! ye> 9 :i* ! qualifi$  
borr[] reque/s ! subsequ5t p]iod (      
def]m5t4  7#d7 ,unemploym5t def]m5t     
7,a7 ,9 g5]al ,a qualifi$ borr[] %all be
 eligible = a def]m5t = p]iods dur+ :i* 
! qualifi$ borr[] is seek+1 & is unable 
to f9d1 full-"t employm5t4  7,b7        
,eligibility ,to be eligible to receive 
an def]m5t "u ?is subp>agraph1 a        
qualifi$ borr[] %all submit to !        
,secret>y-- 7i7 evid5ce ( ! qualifi$    

borr[]'s eligibility = unemploym5t      
b5efits2 or  7ii7 = reque/s submitt$    
aft] ! initial reque/1 writt5           
confirmation1 or an equival5t z approv$ 
by ! ,secret>y1 t ! qualifi$ borr[] has 
made at lea/ six dilig5t attempts dur+ !
 prec$+ six-mon? p]iod to secure full-"t
 employm5t4  7,c7 ,t]ms ( def]m5t ,!    
foll[+ t]ms %all apply to a def]m5t "u  
?is subp>agraph3 7i7 ,initial p]iod ,!  
fir/ def]m5t grant$ to a qualifi$ borr[]
 "u ?is subp>agraph may be = a p]iod (  
unemploym5t beg9n+ n m ?an #f mon?s be=e
 ! date on :i* ! ,secret>y receives !   
qualifi$ borr[]'s reque/ = def]m5t & may
 be grant$ = a p]iod ( up to #f mon?s   
aft] t date4  7ii7 ,r5ewals ,def]m5ts "u
 ?is subp>agraph %all be r5ewable at    
#f-mon? int]vals beg9n+ aft] !          
expiration ( ! fir/ p]iod ( def]m5t "u  
clause 7i74 ,to be eligible to r5ew a   
def]m5t "u ?is subp>agraph1 a qualifi$  
borr[] %all submit to ! ,secret>y !     
in=mation describ$ 9 subp>agraph        
7,b77i74  7iii7 ,aggregate limit ,!     

p]iod ( all def]m5ts grant$ to a borr[] 
"u ?is subp>agraph may n exce$ #c ye>s 9
 aggregate4  7#e7 ,heal? def]m5t  7,a7  
,9 g5]al ,a qualifi$ borr[] %all be     
eligible = a def]m5t dur+ p]iods 9 :i* !
 qualifi$ borr[] is unable to make      
s*$ul$ loan paym5ts due to high m$ical  
exp5ses1 z det]m9$ by ! ,secret>y4  7,b7
 ,eligibility ,to be eligible to receive
 a def]m5t "u ?is subp>agraph1 a        
qualifi$ borr[] %all-- 7i7 submit to !  
,secret>y docum5tation demon/rat+ t mak+
 s*$ul$ loan paym5ts w\ld be an extreme 
economic h>d%ip to ! borr[] due to high 
m$ical exp5ses1 z det]m9$ by !          
,secret>y2 &  7ii7 resubmit su*         
docum5tation to ! ,secret>y n less      
frequ5tly ?an once e #c mon?s4  7l7     
,prohibitions  7#a7 ,prohibition on fees
 ,no adm9i/rative fee or o!r fee may be 
*>g$ to ! borr[] 9 connection ) ! grant+
 ( a def]m5t "u ?is section4  7#b7      
,prohibition on adv]se cr$it report+ ,no
 adv]se in=mation relat+ to a borr[] may
 be report$ to a consum] report+ ag5cy  

solely because ( ! grant+ ( a def]m5t "u
 ?is section4  7#c7 ,limitation on      
au?ority ,! ,secret>y %all n1 ?r\gh     
regulation or o!rwise1 au?orize         
additional def]m5t options or p]iods (  
def]m5t o!r ?an ! def]m5t options &     
p]iods ( def]m5t au?oriz$ "u ?is        
section4  7m7 ,def9itions ,9 ?is        
section3 7#a7 ,eligible graduate        
fell[%ip program ,! t]m eligible        
graduate fell[%ip program1 :5 us$ )     
respect to a c\rse ( /udy pursu$ by !   
borr[] ( a loan "u ?is "p1 means a      
fell[%ip program t-- 7,a7 provides      
suffici5t f9ancial support to graduate  
fell[s to all[ = full-"t /udy = at lea/ 
six mon?s2  7,b7 requires a writt5      
/atem5t f ea* applicant expla9+ !       
applicant's objectives be=e ! aw>d ( t  
f9ancial support2  7,c7 requires a      
graduate fell[ to submit p]iodic        
reports1 projects1 or evid5ce ( !       
fell['s progress2 &  7,d7 9 ! case ( a  
c\rse ( /udy at an in/itution ( high]   
education outside ! ,unit$ ,/ates       

describ$ 9 section #ajb1 accepts ! c\rse
 ( /udy = completion ( ! fell[%ip       
program4  7#b7 ,eligible rehabilitation 
tra9+ program = individuals )           
disabilities ,! t]m eligible            
rehabilitation tra9+ program =          
individuals ) disabilities1 :5 us$ )    
respect a c\rse ( /udy pursu$ by !      
borr[] ( a loan "u ?is "p1 means a      
program t-- 7,a7 is necess>y to assi/ an
 individual ) a disability 9 prep>+ =1  
secur+1 reta9+1 or rega9+ employm5t2    
7,b7 is lic5s$1 approv$1 c]tifi$1 or    
o!rwise recogniz$ z provid+             
rehabilitation tra9+ to disabl$         
individuals by-- 7i7 a ,/ate ag5cy )    
responsibility = vocational             
rehabilitation programs1 drug abuse     
treatm5t programs1 m5tal heal? s]vices  
programs1 or alcohol abuse treatm5t     
programs2 or  7ii7 ! ,secret>y (        
,vet]ans ,affairs2 &  7,c7 provides or w
 provide ! borr[] ) rehabilitation      
s]vices "u a writt5 plan t-- 7i7 is     
individualiz$ to meet ! borr[]'s ne$s2  

7ii7 specifies ! date on :i* ! s]vices  
to ! borr[] are expect$ to end2 &  7iii7
 requires a commitm5t ( "t & ef=t f !   
borr[] t prev5ts ! borr[] f be+ employ$ 
at lea/ #cj h\rs p] week1 ei!r because (
 ! numb] ( h\rs t mu/ be devot$ to      
rehabilitation or because ( ! nature ( !
 rehabilitation4  7#c7 ,except$ ,,plus  
loan2 except$ consolidation loan ,! t]ms
 except$ ,,plus loan & except$          
consolidation loan h ! mean+s giv5 su*  
t]ms 9 section #did;,a4  7#d7 ,family   
size ,! t]m family size means ! numb] t 
is det]m9$ by c\nt+-- 7,a7 ! borr[]2    
7,b7 ! borr[]'s sp\se2  7,c7 ! borr[]'s 
*ildr51 includ+ unborn *ildr5 :o are    
expect$ to be born dur+ ! p]iod cov]$ by
 ! def]m5t1 if ! *ildr5 receive m ?an   
half _! support f ! borr[]2 &  7,d7     
ano!r individual if1 at ! "t ! borr[]   
reque/s a def]m5t "u ?is section1 !     
individual-- 7i7 lives ) ! borr[]2  7ii7
 receives m ?an half ( ! individual's   
support 7:i* may include money1 gifts1  
loans1 h\s+1 food1 clo!s1 c>1 m$ical &  

d5tal c>e1 & paym5t ( college co/s7 f ! 
borr[]2 &  7iii7 is expect$ to receive  
su* support f ! borr[] dur+ ! relevant  
p]iod ( def]m5t4  7#e7 ,full-"t ,! t]m  
full-"t1 :5 us$ ) respect to employm5t1 
means employm5t = n less ?an #cj h\rs p]
 week t is expect$ to cont9ue = n less  
?an ?ree mon?s4  7#f7 ,means-te/$ b5efit
 program ,! t]m means-te/$ b5efit       
program means-- 7,a7 a ,/ate public     
assi/ance program "u :i* eligibility = !
 program's b5efits1 or ! am\nt ( su*    
b5efits1 are det]m9$ on ! basis ( income
 or res\rces ( ! individual or family   
seek+ ! b5efit2 or  7,b7 a m&atory sp5d+
 program ( ! ,f$]al ,gov]nm5t1 o!r ?an a
 program "u ?is title1 "u :i*           
eligibility = ! program's b5efits1 or ! 
am\nt ( su* b5efits1 are det]m9$ on !   
basis ( income or res\rces ( !          
individual or family seek+ ! b5efit1 &  
may include su* programs z-- 7i7 !      
supplem5tal security income program "u  
title ,,xvi ( ! ,social ,security ,act  
7#db ,u4,s4,c4 #acha et seq472  7ii7 !  

supplem5tal nutrition assi/ance program 
"u ! ,food & ,nutrition ,act ( #bjjh 7#g
 ,u4,s4,c4 #bjaa et seq472  7iii7 !     
program ( block grants = ,/ates =       
tempor>y assi/ance = ne$y families      
e/abli%$ "u "p ,a ( title ,,iv ( !      
,social ,security ,act 7#db ,u4,s4,c4   
#fja et seq472  7iv7 ! special          
supplem5tal nutrition program = wom51   
infants1 & *ildr5 e/abli%$ by section   
#ag ( ! ,*ild ,nutrition ,act ( #aiff   
7#db ,u4,s4,c4 #aghf72 &  7v7 o!r       
programs id5tifi$ by ! ,secret>y4  7#g7 
,mon?ly gross income ,! t]m mon?ly gross
 income1 :5 us$ ) respect to a borr[]1  
means-- 7,a7 ! gross am\nt ( income     
receiv$ by ! borr[] f employm5t & o!r   
s\rces = ! mo/ rec5t mon?2 or  7,b7     
"o-twelf? ( ! borr[]'s adju/$ gross     
income1 z record$ on ! borr[]'s mo/     
rec5tly fil$ ,f$]al income tax return4  
7#h7 ,rule ( con/ruction ,no?+ 9 ?is    
section %all be con/ru$ to impact a     
borr[]'s eligibility to receive ! b5efit
 ( section #dee7o74  4  7b7 ,con=m+     

am5dm5t ,section #dic;,d7a7 7#bj        
,u4,s4,c4 #ajih;f7a77 is am5d$ by ins]t+
 1 or section #dfj;,a aft]              
#dfd7;c77#b77;,a77iii74  #g4 ,loan      
rehabilitation  7a7 ,9 g5]al ,section   
#dbh;,f7a77#e7 7#bj ,u4,s4,c4 #ajgh-f7  
is am5d$ by /rik+ "o "t & ins]t+ two    
times4  7b7 ,application ( am5dm5t ,!   
am5dm5t made by ?is section %all apply  
to any borr[] ( a loan made1 insur$1 or 
gu>ante$ "u title ,,iv ( ! ,high]       
,education ,act ( #aife be=e1 on1 or    
aft] ! date ( enactm5t ( ?is ,act4  #h4 
,limitation on au?ority ( ,secret>y to  
propose or issue regulations & executive
 actions  7a7 ,9 g5]al ,"p ,g ( title   
,,iv 7#bj ,u4,s4,c4 #ajhh et seq47 is   
am5d$ by ins]t+ aft] section #dib !     
foll[+3  #dib;,a4 ,limitation on        
au?ority ( ! ,secret>y to propose or    
issue regulations & executive actions   
7a7 ,draft regulations ,beg9n+ aft] !   
date ( enactm5t ( ?is section1 a draft  
regulation implem5t+ ?is title 7z       
describ$ 9 section #dib7;b77#a77 t is   

det]m9$ by ! ,secret>y to be            
economically significant %all be subject
 to ! foll[+ requirem5ts 7reg>dless (   
:e!r negotiat$ rulemak+ occurs73 7#a7 ,!
 ,secret>y %all det]m9e :e!r ! draft    
regulation1 if implem5t$1 w\ld result 9 
an increase 9 a subsidy co/4  7#b7 ,if !
 ,secret>y det]m9es "u p>agraph 7#a7 t !
 draft regulation w\ld result 9 an      
increase 9 a subsidy co/1 !n ! ,secret>y
 may take no fur!r action ) respect to  
su* regulation4  7b7 ,propos$ or f9al   
regulations & executive actions ,beg9n+ 
aft] ! date ( enactm5t ( ?is section1 ! 
,secret>y may n issue a propos$ rule1   
f9al regulation1 or executive action    
implem5t+ ?is title if ! ,secret>y      
det]m9es t ! rule1 regulation1 or       
executive action-- 7#a7 is economically 
significant2 &  7#b7 w\ld result 9 an   
increase 9 a subsidy co/4  7c7          
,relation%ip to o!r requirem5ts ,!      
analyses requir$ "u subsections 7a7 &   
7b7 %all be 9 addition to any o!r co/   
analysis requir$ "u law = a regulation  

implem5t+ ?is title1 includ+ any co/    
analysis t may be requir$ pursuant to   
,executive ,ord] #abhff 7#eh ,f$4 ,reg4 
#eagce2 relat+ to regulatory plann+ &   
review71 ,executive ,ord] #acefc 7#gf   
,f$4 ,reg4 #chba2 relat+ to improv+     
regulation & regulatory review71 or any 
relat$ or successor ord]s4  7d7         
,def9ition ,9 ?is section1 ! t]m        
economically significant1 :5 us$ )      
respect to a draft1 propos$1 or f9al    
regulation or executive action1 means t 
! regulation or executive action is     
likely1 z det]m9$ by ! ,secret>y-- 7#a7 
to h an annual effect on ! economy (    
#ajj1jjj1jjj or m2 or  7#b7 adv]sely to 
affect 9 a mat]ial way ! economy1 a     
sector ( ! economy1 productivity1       
competition1 jobs1 ! environm5t1 public 
heal? or safety1 or ,/ate1 local1 or    
tribal gov]nm5ts or communities4  4  7b7
 ,prohibition on c]ta9 f9al rule ,except
 z expressly au?oriz$ by an ,act (      
,congress1 ! ,secret>y may n implem5t1  
adm9i/]1 or en=ce a f9al rule t is      

sub/antially simil> to ! propos$ rule on
 ,improv+ ,income-,driv5 ,repaym5t = !  
,william ,d4 ,=d ,f$]al ,direct ,loan   
,program publi%$ by ! ,dep>tm5t (       
,education 9 ! ,f$]al ,regi/] on ,janu>y
 #aa1 #bjbc 7#hh ,f$4 ,reg4 #ahid et    
seq474