,,ii #aaith ,,congress #b;d ,session ,s4 #dbfi ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,march #bf1 #bjbf,mr4 ,blumenthal 7for himself1 ,mr4 ,lujn1 ,mr4 ,booker1 ,mr4 ,merkley1 ,ms4 ,alsobrooks1 and ,mr4 ,kaine7 introduced the following bill2 which was read twice and referred to the ,committee on ,finance ,a ,,bill ,to repeal certain student loan provisions1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,restoring ,college ,access and ,affordability ,act4 #b4 ,loan limits ,section #hajja of the ,act titled ,an ,act to provide for reconciliation pursuant to title ,,ii of ,h4 ,con4 ,res4 #ad 7,public ,law #aai-ba2 #aci ,stat4 #gb7 is repealed and any law or regulation referred to in such section shall be applied as if such section and the amendments made by such section had not been enacted4 #c4 ,loan repayment 7a7 ,loan repayment ,section #hbjja of the ,act titled ,an ,act to provide for reconciliation pursuant to title ,,ii of ,h4 ,con4 ,res4 #ad 7,public ,law #aai-ba2 #aci ,stat4 #gb7 is repealed and any law or regulation referred to in such section shall be applied as if such section and the amendments made by such section had not been enacted4 7b7 ,deferment2 forbearance ,section #hbjjb of the ,act titled ,an ,act to provide for reconciliation pursuant to title ,,ii of ,h4 ,con4 ,res4 #ad 7,public ,law #aai-ba2 #aci ,stat4 #gb7 is repealed and any law or regulation referred to in such section shall be applied as if such section and the amendments made by such section had not been enacted4 7c7 ,public service loan forgiveness ,section #hbjjd of the ,act titled ,an ,act to provide for reconciliation pursuant to title ,,ii of ,h4 ,con4 ,res4 #ad 7,public ,law #aai-ba2 #aci ,stat4 #gb7 is repealed and any law or regulation referred to in such section shall be applied as if such section and the amendments made by such section had not been enacted4 #d4 ,pell ,grants 7a7 ,eligibility ,section #hcjja of the ,act titled ,an ,act to provide for reconciliation pursuant to title ,,ii of ,h4 ,con4 ,res4 #ad 7,public ,law #aai-ba2 #aci ,stat4 #gb7 is repealed and any law or regulation referred to in such section shall be applied as if such section and the amendments made by such section had not been enacted4 7b7 ,federal ,pell ,grant exclusion relating to other grant aid ,section #hcjjd of the ,act titled ,an ,act to provide for reconciliation pursuant to title ,,ii of ,h4 ,con4 ,res4 #ad 7,public ,law #aai-ba2 #aci ,stat4 #gb7 is repealed and any law or regulation referred to in such section shall be applied as if such section and the amendments made by such section had not been enacted4 #e4 ,ineligibility based on low earning outcomes ,section #ded7;c7 of the ,higher ,education ,act of #aife 7#bj ,u4,s4,c4 #ajhg;d7c77 is amended-- 7#a7 in paragraph 7#a7-- 7,a7 by striking ,notwithstanding section #dha7;b71 and inserting the following3 7,a7 ,in ,general ,notwithstanding section #dha7;b71 2 7,b7 by striking an educational program and inserting a covered educational program2 and 7,c7 by adding at the end the following3 7,b7 ,covered educational program ,in this subsection1 the term covered educational program means an eligible program under this title that is-- 7i7 a program of training to prepare students for gainful employment in a recognized occupation 7such as a program that awards a certificate or credential71 or a program that awards an associate's degree2 7ii7 a program that awards an associate's degree or a baccalaureate degree2 or 7iii7 a program that awards a graduate or professional degree1 or graduate certificate4 2 7#b7 in paragraph 7#b71 by striking ,an educational program at an institution is described in this paragraph if the program awards an undergraduate degree1 graduate or professional degree1 or graduate certificate1 for which and inserting ,a covered educational program at an institution is described in this paragraph if the program is a program for which2 7#c7 in paragraph 7#c7-- 7,a7 in subparagraph 7,a7-- 7i7 in the matter preceding clause 7i71 by striking an educational program and inserting a covered educational program2 7ii7 in clause 7iii77,i71 by striking an educational program that awards a baccalaureate or lesser degree1 and inserting a covered educational program described in clause 7i7 or 7ii7 of paragraph 7#a77;,b712 and 7iii7 in clause 7iii77,,ii71 by striking a graduate or professional program1 and inserting a covered educational program described in clause 7iii7 of paragraph 7#a77;,b712 and 7,b7 in subparagraph 7,b7-- 7i7 in the matter preceding clause 7i71 by striking an educational program and inserting a covered educational program2 7ii7 in clause 7i71 in the matter preceding subclause 7,i71 by striking that awards a baccalaureate or lesser degree and inserting that is a covered educational program described in clause 7i7 or 7ii7 of paragraph 7#a77;,b712 and 7iii7 in clause 7ii71 in the matter preceding subclause 7,i71 by striking that is a graduate or professional program and inserting that is a covered educational program described in clause 7iii7 of paragraph 7#a77;,b712 7#d7 in paragraph 7#d7-- 7,a7 by striking an educational program and inserting a covered educational program2 and 7,b7 by inserting covered before educational programs2 7#e7 in paragraph 7#e7-- 7,a7 by striking ,an educational program and inserting ,a covered educational program2 and 7,b7 by striking the educational program and inserting the covered educational program2 7#f7 in paragraph 7#f77;,a7-- 7,a7 by striking an educational program and inserting a covered educational program2 and 7,b7 by striking the educational program and inserting the covered educational program1 each place the term appears2 and 7#g7 in paragraph 7#g71 by striking an educational program and inserting a covered educational program4 #f4 ,regulatory ,relief 7a7 ,delay of rule relating to borrower defense to repayment ,section #hejja of the ,act titled ,an ,act to provide for reconciliation pursuant to title ,,ii of ,h4 ,con4 ,res4 #ad 7,public ,law #aai-ba2 #aci ,stat4 #gb7 is repealed and any law or regulation referred to in such section shall be applied as if such section and the amendments made by such section had not been enacted4 7b7 ,delay of rule relating to closed school discharges ,section #hejjb of the ,act titled ,an ,act to provide for reconciliation pursuant to title ,,ii of ,h4 ,con4 ,res4 #ad 7,public ,law #aai-ba2 #aci ,stat4 #gb7 is repealed and any law or regulation referred to in such section shall be applied as if such section and the amendments made by such section had not been enacted4 #g4 ,modification of excise tax on endowment income of private colleges and universities 7a7 ,in general ,subsection 7a7 of section #difh of the ,internal ,revenue ,code of #aihf is amended by striking the applicable percentage and inserting #a4d percent4 7b7 ,conforming amendments 7#a7 ,section #difh of the ,internal ,revenue ,code of #aihf is amended by striking subsection 7b7 and by redesignating subsections 7c71 7d71 7e71 7f71 7g71 and 7h7 as subsections 7b71 7c71 7d71 7e71 7f71 and 7g71 respectively4 7#b7 ,subsection 7e7 of section #difh of such ,code is amended by striking 7c7 and 7d7 and inserting 7b7 and 7c74 7#c7 ,paragraph 7#a7 of section #difh7;g7 of such ,code is amended by striking 7d7 and 7f7 and inserting 7c7 and 7e74 7#d7 ,subsection 7o7 of section #fjcc of such ,code is amended-- 7,a7 by striking #difh7;c7 both places it appears and inserting #difh7;b71 and 7,b7 by striking #difh7;e7 in paragraph 7#b7 thereof and inserting #difh7;d74 7c7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after ,december #ca1 #bjbe4