,,ii #aahth ,,congress #ast ,session ,s4 #aiga ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,june #ad1 #bjbc,mr4 ,cornyn 7for himself and ,mr4 ,cassidy7 introduced the following bill2 which was read twice and referred to the ,committee on ,health1 ,education1 ,labor1 and ,pensions ,a ,,bill ,to amend the ,higher ,education ,act of #aife to provide for loan repayment simplification and income-driven repayment reform4 #a4 ,short title ,this ,act may be cited as the ,streamlining ,accountability and ,value in ,education for ,students ,act4 #b4 ,loan repayment simplification and income-driven repayment reform ,section #dee of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhg;e7 is amended-- 7#a7 in subsection 7d7-- 7,a7 in paragraph 7#a7-- 7i7 in subparagraph 7,b71 by inserting not later than ,june #cj1 #bjbd1 before a graduated2 7ii7 in subparagraph 7,c71 by inserting not later than ,june #cj1 #bjbd1 before an extended2 7iii7 in subparagraph 7,d7-- 7,i7 by inserting not later than ,june #cj1 #bjbd1 before an income contingent2 and 7,,ii7 by striking and after the semicolon2 7iv7 in subparagraph 7,e7-- 7,i7 by inserting and not later than ,june #cj1 #bjbd1 after beginning on ,july #a1 #bjji2 and 7,,ii7 by striking the period at the end and inserting 2 and2 and 7v7 by adding at the end the following3 7,f7 beginning on ,july #a1 #bjbd1 an income contingent repayment plan known as the ,revised ,pay ,as ,you ,earn ,repayment plan1 consistent with subsection 7e77#i74 2 7,b7 in paragraph 7#b71 by striking in subparagraph 7,a71 7,b71 or 7,c7 of paragraph 7#a7 and inserting in subparagraph 7,a7 or 7,f7 of paragraph 7#a72 and 7,c7 in paragraph 7#d71 by inserting not later than ,june #cj1 #bjbd and after ,the ,secretary may provide12 and 7#b7 in subsection 7e71 by adding at the end the following3 7#i7 ,revised ,pay ,as ,you ,earn ,repayment plan 7,a7 ,in general ,the ,secretary shall carry out a ,revised ,pay ,as ,you ,earn ,repayment plan in accordance with section #fhe4bji7;c7 of title #cd1 ,code of ,federal ,regulations1 as in effect on ,december #ag1 #bjae1 except as otherwise provided in this paragraph as follows3 7i7 ,a borrower may complete loan rehabilitation on a defaulted loan through making eligible payments in accordance with this paragraph for #i consecutive months4 7ii7 ,a borrower who no longer wishes to repay under the ,,repaye plan may change only to a standard repayment plan4 7iii7 ,in addition to that provided under paragraph 7#e77;iv7 of such section #fhe4bji7;c71 a qualifying monthly payment may also include a month for which the borrower received-- 7,i7 deferment under subsection 7f77#c7 due to receiving treatment for cancer2 7,,ii7 deferment under subsection 7f77#b7 for rehabilitation training2 7,,iii7 deferment under subsection 7f77#b7 for unemployment2 7,,iv7 deferment under subsection 7f77#b7 for economic hardship1 including any period of deferment for ,peace ,corps service2 7,v7 deferment under subsection 7f77#b7 for military service2 7,,vi7 deferment under subsection 7f77#b7 for post-active duty service2 7,,vii7 forbearance under section #dbh7;c77#c77;,a77i77,,iii71 for national service2 7,,viii7 forbearance under section #fhe4bje7;a77#g7 of title #cd1 ,code of ,federal ,regulations1 for ,national ,guard ,duty2 7,,ix7 forbearance under section #dbh7;c77#c77;,a77i77,,iv71 for service for which the borrower would qualify for a partial repayment of his or her loan under the ,student ,loan ,repayment ,programs administered by the ,department of ,defense2 or 7,x7 administrative forbearance under paragraph 7#h7 or 7#i7 of section #fhe4bje7;b7 of title #cd1 ,code of ,federal ,regulations4 7iv7 ,a borrower shall be automatically enrolled in a ,revised ,pay ,as ,you ,earn ,repayment plan for a loan at #ge days delinquent on such loan4 7v7 ,a borrower who missed qualifying payments during a forbearance or deferment period not listed in clause 7iii71 shall have the opportunity to provide a back payment for the missed payments in order have those payments counted toward the #bj-year or #be-year forgiveness period1 except there shall be no opportunity to provide a back payment for periods of in-school deferment4 7vi7 ,for a borrower who is solely an undergraduate borrower-- 7,i7 who has borrowed #aj1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #abj payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 7,,ii7 who has borrowed more than #aj1jjj but #aa1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #acb payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 7,,iii7 who has borrowed more than #aa1jjj but #ab1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #add payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 7,,iv7 who has borrowed more than #ab1jjj but #ac1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #aef payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 7,v7 who has borrowed more than #ac1jjj but #ad1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #afh payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 7,,vi7 who has borrowed more than #ad1jjj but #ae1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #ahj payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 7,,vii7 who has borrowed more than #ae1jjj but #af1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #aib payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 7,,viii7 who has borrowed more than #af1jjj but #ag1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #bjd payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 7,,ix7 who has borrowed more than #ag1jjj but #ah1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #baf payments under the ,revised ,pay ,as ,you ,earn ,repayment plan2 and 7,x7 who has borrowed more than #ah1jjj but #ai1jjj or less in total in loans under this part1 not including loan fees1 the ,secretary may determine that the borrower has met the loan forgiveness requirements after #bbh payments under the ,revised ,pay ,as ,you ,earn ,repayment plan4 7,b7 ,transfer of borrowers in repayment ,notwithstanding any other provision of this ,act1 on ,july #a1 #bjbd1 the ,secretary shall transfer each borrower who is in repayment on a loan made under this part under an income contingent repayment plan pursuant to subsection 7d77#a77;,d7 to the ,revised ,pay ,as ,you ,earn ,repayment plan under this paragraph4 4 #c4 ,taxpayer and consumer protection on student loans ,section #dhg7;a7 of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajid7;a77 is amended by adding at the end the following3 7#cj7 7,a7 ,the institution certifies that no funds available under this title may be used by an undergraduate student for enrollment in an educational program offered by the institution that is described in subparagraph 7,b74 7,b7 ,an educational program at an institution is described in this subparagraph if the program is a program-- 7i7 in the case of a program that awards an associate's degree or a lesser degree or credential1 in which the median earnings of students #f years after the date of entry into the program who are no longer enrolled in the program and are working is1 for not less than #b of the #c years preceding the date of the determination1 less than the median earnings of a working adult who is aged #be to #cd with only a high school diploma or its recognized equivalent1 as determined under subparagraph 7,c7 and in accordance with subparagraph 7,d72 or 7ii7 in the case of a program that awards a bachelor's degree1 in which the median earnings of students #aj years after the date of entry into the program who are no longer enrolled in the program and are working is1 for not less than #b of the #c years preceding the date of the determination1 less than the median earnings of a working adult who is aged #be to #cd with only a high school diploma or its recognized equivalent1 as determined under subparagraph 7,c7 and in accordance with subparagraph 7,d74 7,c7 ,the median earnings of a working adult who is aged #be to #cd with only a high school diploma or its recognized equivalent shall be based on data from the ,census ,bureau-- 7i7 for the ,state in which the institution is located2 or 7ii7 if fewer than #ej percent of the students enrolled in the institution reside in the ,state where the institution is located1 for the entire ,united ,states4 7,d7 ,for any year for which the programmatic cohort is fewer than #cj individuals1 the ,secretary shall-- 7i7 first1 aggregate additional years of programmatic data in order to achieve a cohort of at least #cj individuals2 7ii7 second1 aggregate additional cohort years of programmatic data for degrees or certificates of equivalent length in order to achieve a cohort of at least #cj individuals2 and 7iii7 if such data cannot be aggregated1 use an institution-based undergraduate-level measure1 in lieu of a programmatic measure4 7,e7 ,an educational program shall not lose eligibility under subparagraph 7,a7 unless the institution has had the opportunity to appeal the programmatic median earnings of students working and not enrolled determination4 ,during such appeal1 the ,secretary may permit the educational program to continue to participate in a program under this title4 ,if an educational program continues to participate in a program under title1 and the institution's appeal of the loss of eligibility is unsuccessful1 the institution shall pay to the ,secretary an amount equal to the amount of interest1 and any related payments made by the ,secretary 7or which the ,secretary is obligated to make7 with respect to loans made under this title to students attending1 or planning to attend1 that educational program during the pendency of such appeal4 7#ca7 7,a7 ,the institution certifies that no funds available under this title may be used by a graduate student for enrollment in an educational program offered by the institution that is described in subparagraph 7,b74 7,b7 ,an educational program at an institution is described in this subparagraph if the program is a program-- 7i7 in the case of a program that awards a master's degree or a lesser degree or credential1 in which the median earnings of students #f years after the date of entry into the program who are no longer enrolled in the program and are working is1 for not less than #b of the #c years preceding the date of the determination1 less than the median earnings of a working adult who is aged #be to #cd with only a bachelor's degree1 as determined under subparagraph 7,c7 and in accordance with subparagraph 7,d72 or 7ii7 in the case of program that awards a professional degree or doctoral degree1 in which the median earnings of students #aj years after the date of entry into the program who are no longer enrolled in the program and are working is1 for not less than #b of the #c years preceding the date of the determination1 less than the median earnings of a working adult who is aged #be to #cd with only a bachelor's degree1 as determined under subparagraph 7,c7 and in accordance with subparagraph 7,d74 7,c7 ,the median earnings of a working adult who is aged #be to #cd with only a bachelor's degree shall be based on data from the ,census ,bureau-- 7i7 for the ,state in which the institution is located2 or 7ii7 if fewer than #ej percent of the students enrolled in the institution reside in the ,state where the institution is located1 for the entire ,united ,states4 7,d7 ,for any year for which the programmatic cohort is fewer than #cj individuals1 the ,secretary shall-- 7i7 first1 aggregate additional years of programmatic data in order to achieve a cohort of at least #cj individuals2 7ii7 second1 aggregate additional cohort years of programmatic data for degrees or certificates of equivalent length in order to achieve a cohort of at least #cj individuals2 and 7iii7 if such data cannot be aggregated1 use an institution-based graduate-level measure1 in lieu of a programmatic measure4 7,e7 ,an educational program shall not lose eligibility under subparagraph 7,a7 unless the institution has had the opportunity to appeal the programmatic median earnings of students working and not enrolled determination4 ,during such appeal1 the ,secretary may permit the educational program to continue to participate in a program under this title4 ,if an educational program continues to participate in a program under title1 and the institution's appeal of the loss of eligibility is unsuccessful1 the institution shall pay to the ,secretary an amount equal to the amount of interest1 and any related payments made by the ,secretary 7or which the ,secretary is obligated to make7 with respect to loans made under this title to students attending1 or planning to attend1 that educational program during the pendency of such appeal4 4 #d4 ,phase out of income-based repayment ,section #dic;,c of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajih;e7 is amended-- 7#a7 in subsection 7b77#a71 by inserting who enters repayment on such loan before ,july #a1 #bjbd and after a borrower of any loan made1 insured1 or guaranteed under part ,b or ,d 7other than an excepted ,,plus loan or excepted consolidation loan72 and 7#b7 in subsection 7e7-- 7,a7 in the subsection heading by inserting and before ,july #a1 #bjbd after ,july #a1 #bjad2 and 7,b7 by inserting 1 and before ,july #a1 #bjbd after ,july #a1 #bjad4