,i #aai? ,,congress #a/ ,session ,h4 ,r4 #ejhd ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,septemb] #b1 #bjbe,mr4 ,fields introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,education & ,work=ce1 & 9 addition to ! ,committee on ,ways & ,means1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to am5d ! ,high] ,education ,act ( #aife to provide und]graduate /ud5t loan =giv5ess = public s*ool tea*]s :o provide #h ye>s ( consecutive tea*+ s]vice4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,tea*] ,loan ,=giv5ess ,enhancem5t ,act4 #b4 ,public s*ool tea*] loan =giv5ess = und]graduate loans ,"p ,g ( title ,,iv ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajhh et seq47 is am5d$ by add+ at ! end ! foll[+3 #did;,a4 ,public s*ool tea*] loan =giv5ess = und]graduate loans 7a7 ,9 g5]al ,! ,secret>y %all =give1 9 accordance ) ?is section1 ! eligible ,f$]al und]graduate loans ( a borr[] :o has be5 employ$ full-"t z a public s*ool tea*] = at lea/ #h consecutive ye>s4 7b7 ,me?od ( loan =giv5ess ,to =give eligible ,f$]al und]graduate loans "u ?is section1 ! ,secret>y %all c>ry out a program-- 7#a7 ?r\gh ! hold] ( ! loan1 to assume ! obligation to repay su* a loan t is made1 insur$1 or gu>ante$ "u "p ,b ( ?is title2 7#b7 to cancel su* a loan t is made "u ?is "p2 & 7#c7 to cancel su* a loan made "u "p ,e1 & to make paym5ts to in/itutions ( high] education = an am\nt equal to ! aggregate ( ! am\nts ( loans f its /ud5t loan fund :i* are cancel$ pursuant to ?is section1 9 accordance ) ! requirem5ts ( section #dfe7;b74 7c7 ,loan =giv5ess am\nts ,^u completion by a borr[] ( ! #h consecutive ye>s ( employm5t describ$ 9 subsection 7a71 ! ,secret>y %all =give1 9 accordance ) subsection 7b71 ! balance ( pr9cipal & int]e/ due z ( ! "t ( su* =giv5ess1 on ! eligible ,f$]al und]graduate loans ( ! borr[]4 7d7 ,loan =giv5ess n taxable income ,! am\nt ( a loan1 includ+ int]e/ on a loan1 =giv5 "u ?is section %all n be consid]$ income = purposes ( ! ,int]nal ,rev5ue ,code ( #aihf4 7e7 ,d\ble b5efits au?oriz$ ,an borr[] may1 = ! same s]vice1 receive a b5efit "u bo? ?is section &-- 7#a7 section #dbh,k2 7#b7 section #dfj2 7#c7 section #dee7m72 or 7#d7 subtitle ,d ( title ,i ( ! ,national & ,community ,s]vice ,act ( #aiij 7#db ,u4,s4,c4 #abfja et seq474 7f7 ,def9itions ,9 ?is section3 7#a7 ,eligible ,f$]al und]graduate loan ,! t]m eligible ,f$]al und]graduate ,loan means any loan made1 insur$1 or gu>ante$ "u "p ,b1 ?is "p1 or "p ,e t is attributable to an und]graduate c\rse or program ( /udy4 7#b7 ,,esea t]ms ,! t]ms elem5t>y s*ool & second>y s*ool h ! mean+s giv5 su* t]ms 9 section #haja ( ! ,elem5t>y & ,second>y ,education ,act ( #aife 7#bj ,u4,s4,c4 #ghja74 7#c7 ,public s*ool tea*] ,! t]m public s*ool tea*] means a tea*] at a public elem5t>y s*ool or public second>y s*ool4 4 #c4 ,def]m5t = public s*ool tea*]s 7a7 ,f$]al direct loans ,section #dee7;f7 ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajhg;e7f77 is am5d$-- 7#a7 by r$esignat+ p>agraphs 7#f7 & 7#g7 z p>agraphs 7#g7 & 7#h71 respectively2 & 7#b7 by ins]t+ aft] p>agraph 7#e7 ! foll[+3 7#f7 ,def]m5t = borr[]s :ile s]v+ z a public s*ool tea*] 7,a7 ,effect on pr9cipal & int]e/ ,a borr[] ( a loan made "u ?is "p :o meets ! requirem5ts ( subp>agraph 7,b7 %all be eligible = a def]m5t1 dur+ :i* p]iodic in/allm5ts ( pr9cipal ne$ n be paid1 & int]e/ %all n accrue4 7,b7 ,eligibility ,a borr[] ( a loan made "u ?is "p %all be eligible = a def]m5t dur+-- 7i7 any p]iod 9 :i* su* borr[] is s]v+ z a public s*ool tea*] 7z def9$ 9 section #did;,a72 & 7ii7 ! #f mon?s aft] su* p]iod4 7,c7 ,applicability ,?is p>agraph %all apply ) respect to loans-- 7i7 made on or aft] ! date ( ! enactm5t ( ?is p>agraph2 or 7ii7 9 repaym5t on ! date ( ! enactm5t ( ?is p>agraph4 4 7b7 ,,ffel ,loans 7#a7 ,section #dbg7;a77#b77;,c7 ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajgg7;a77#b77;,c77 is am5d$-- 7,a7 9 clause 7iii71 by /rik+ or at ! end2 7,b7 9 clause 7iv71 by /rik+ ! p]iod at ! end & ins]t+ 2 or2 & 7,c7 by ins]t+ aft] clause 7iv71 z s am5d$1 ! foll[+3 7v7 dur+ :i* ! borr[] is s]v+ z a public s*ool tea*] 7z def9$ 9 section #did;,a7 & ! #f mon?s aft] su* p]iod2 4 7#b7 ,section #dbh7;b77#a77,m7 ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajgg7;b77#a77,m77 is am5d$-- 7,a7 9 clause 7iv71 by /rik+ or at ! end2 7,b7 9 clause 7v71 by ins]t+ or at ! end2 & 7,c7 by add+ at ! end ! foll[+3 7vi7 dur+ :i* ! borr[] is s]v+ z a public s*ool tea*] 7z def9$ 9 section #did;,a7 & ! #f mon?s aft] su* p]iod2 4 7c7 ,p]k9s ,loans ,section #dfd7;c77#b77;,a7 ( ! ,high] ,education ,act ( #aife 7#bj ,u4,s4,c4 #ajhg;dd7c77#b77;,a77-- 7#a7 9 clause 7v71 by /rik+ or at ! end2 7#b7 9 clause 7vi71 by add+ or at ! end2 & 7#c7 by ins]t+ aft] clause 7vi71 z s am5d$1 ! foll[+3 7vii7 dur+ :i* ! borr[] is s]v+ z a public s*ool tea*] 7z def9$ 9 section #did;,a7 & ! #f mon?s aft] su* p]iod2 4 #d4 ,au?orization ( disclosure by ,secret>y ( ! ,treasury 7a7 ,9 g5]al ,section #fajc7l77#ac7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,g7 ,public tea*] loan =giv5ess ,! ,secret>y %all1 ^u writt5 reque/ f ! ,secret>y ( ,education1 disclose to any au?oriz$ p]son1 only = ! purpose ( 7& to ! ext5t necess>y 97 dis*>g+ loans "u section #did;,a ! ,high] ,education ,act ( #aife1 ! foll[+ return in=mation f returns 7= any taxable ye> specifi$ by ! ,secret>y ( ,education z relevant to su* purpose7 ( an individual3 7i7 ,! return in=mation describ$ 9 clauses 7i7 & 7vi7 ( subp>agraph 7,a74 7ii7 ,! employ] id5tification numb] ( ea* employ] employ+ ! individual dur+ a specifi$ taxable ye>4 7iii7 ,v]ification ( :e!r an individual 0 employ$ by an employ] dur+ a specifi$ taxable ye>4 7iv7 ,! "n ( ea* employ] employ+ ! individual dur+ a specifi$ taxable ye>4 7v7 ,! type indicator ( ! employ] employ+ ! individual dur+ a specifi$ taxable ye>4 4 7b7 ,con=m+ am5dm5ts 7#a7 ,section #fajc7p7 ( su* ,code is am5d$-- 7,a7 9 p>agraph 7#c77;,a71 by ins]t+ 7#ac77;,g71 be=e 7#ad71 & 7,b7 9 p>agraph 7#d7 by ins]t+ 7#ac77;,g71 aft] 7#ac77;,d77i71 ea* place x appe>s4 7#b7 ,section #gbac7;a77#b7 ( su* ,code is am5d$ by ins]t+ 7#ac77;,g71 aft] 7#aj71 7#ab714 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to disclosures made on or aft] ! date ( ! enactm5t ( ?is ,act4