,,ii  #aai? ,,congress  #b;d ,session   
,s4 #dbfi  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,m>* #bf1 #bjbf,mr4    
,blum5?al 7= himself1 ,mr4 ,lujn1 ,mr4  
,book]1 ,mr4 ,m]kley1 ,ms4 ,alsobrooks1 
& ,mr4 ,ka9e7 introduc$ ! foll[+ bill2  
:i* 0 read twice & ref]r$ to !          
,committee on ,f9ance  ,a ,,bill  ,to   
repeal c]ta9 /ud5t loan provisions1 & = 
o!r purposes4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,re/or+ ,college       
,access & ,af=dability ,act4  #b4 ,loan 
limits  ,section #hajja ( ! ,act titl$  
,an ,act to provide = reconciliation    
pursuant to title ,,ii ( ,h4 ,con4 ,res4
 #ad 7,public ,law #aai-ba2 #aci ,/at4  
#gb7 is repeal$ & any law or regulation 
ref]r$ to 9 su* section %all be appli$ z
 if su* section & ! am5dm5ts made by su*
 section _h n be5 enact$4  #c4 ,loan    
repaym5t  7a7  ,loan repaym5t  ,section 
#hbjja ( ! ,act titl$ ,an ,act to       
provide = reconciliation pursuant to    
title ,,ii ( ,h4 ,con4 ,res4 #ad        
7,public ,law #aai-ba2 #aci ,/at4 #gb7  

is repeal$ & any law or regulation      
ref]r$ to 9 su* section %all be appli$ z
 if su* section & ! am5dm5ts made by su*
 section _h n be5 enact$4  7b7          
,def]m5t2 =be>ance  ,section #hbjjb ( ! 
,act titl$ ,an ,act to provide =        
reconciliation pursuant to title ,,ii ( 
,h4 ,con4 ,res4 #ad 7,public ,law       
#aai-ba2 #aci ,/at4 #gb7 is repeal$ &   
any law or regulation ref]r$ to 9 su*   
section %all be appli$ z if su* section 
& ! am5dm5ts made by su* section _h n   
be5 enact$4  7c7  ,public s]vice loan   
=giv5ess  ,section #hbjjd ( ! ,act titl$
 ,an ,act to provide = reconciliation   
pursuant to title ,,ii ( ,h4 ,con4 ,res4
 #ad 7,public ,law #aai-ba2 #aci ,/at4  
#gb7 is repeal$ & any law or regulation 
ref]r$ to 9 su* section %all be appli$ z
 if su* section & ! am5dm5ts made by su*
 section _h n be5 enact$4  #d4 ,pell    
,grants  7a7  ,eligibility  ,section    
#hcjja ( ! ,act titl$ ,an ,act to       
provide = reconciliation pursuant to    
title ,,ii ( ,h4 ,con4 ,res4 #ad        

7,public ,law #aai-ba2 #aci ,/at4 #gb7  
is repeal$ & any law or regulation      
ref]r$ to 9 su* section %all be appli$ z
 if su* section & ! am5dm5ts made by su*
 section _h n be5 enact$4  7b7  ,f$]al  
,pell ,grant exclusion relat+ to o!r    
grant aid  ,section #hcjjd ( ! ,act     
titl$ ,an ,act to provide =             
reconciliation pursuant to title ,,ii ( 
,h4 ,con4 ,res4 #ad 7,public ,law       
#aai-ba2 #aci ,/at4 #gb7 is repeal$ &   
any law or regulation ref]r$ to 9 su*   
section %all be appli$ z if su* section 
& ! am5dm5ts made by su* section _h n   
be5 enact$4  #e4 ,ineligibility bas$ on 
l[ e>n+ outcomes ,section #ded7;c7 ( !  
,high] ,education ,act ( #aife 7#bj     
,u4,s4,c4 #ajhg;d7c77 is am5d$-- 7#a7 9 
p>agraph 7#a7-- 7,a7 by /rik+ ,not)/&+  
section #dha7;b71 & ins]t+ ! foll[+3    
7,a7 ,9 ,g5]al ,not)/&+ section         
#dha7;b71  2  7,b7 by /rik+ an          
educational program & ins]t+ a cov]$    
educational program2 &  7,c7 by add+ at 
! end ! foll[+3  7,b7 ,cov]$ educational

 program ,9 ?is subsection1 ! t]m cov]$ 
educational program means an eligible   
program "u ?is title t is-- 7i7 a       
program ( tra9+ to prep>e /ud5ts =      
ga9ful employm5t 9 a recogniz$          
occupation 7su* z a program t aw>ds a   
c]tificate or cr$5tial71 or a program t 
aw>ds an associate's degree2  7ii7 a    
program t aw>ds an associate's degree or
 a baccalaureate degree2 or  7iii7 a    
program t aw>ds a graduate or           
pr(essional degree1 or graduate         
c]tificate4  2  7#b7 9 p>agraph 7#b71 by
 /rik+ ,an educational program at an    
in/itution is describ$ 9 ?is p>agraph if
 ! program aw>ds an und]graduate degree1
 graduate or pr(essional degree1 or     
graduate c]tificate1 = :i* & ins]t+ ,a  
cov]$ educational program at an         
in/itution is describ$ 9 ?is p>agraph if
 ! program is a program = :i*2  7#c7 9  
p>agraph 7#c7-- 7,a7 9 subp>agraph      
7,a7-- 7i7 9 ! matt] prec$+ clause 7i71 
by /rik+ an educational program & ins]t+
 a cov]$ educational program2  7ii7 9   

clause 7iii77,i71 by /rik+ an           
educational program t aw>ds a           
baccalaureate or less] degree1 & ins]t+ 
a cov]$ educational program describ$ 9  
clause 7i7 or 7ii7 ( p>agraph           
7#a77;,b712 &  7iii7 9 clause           
7iii77,,ii71 by /rik+ a graduate or     
pr(essional program1 & ins]t+ a cov]$   
educational program describ$ 9 clause   
7iii7 ( p>agraph 7#a77;,b712 &  7,b7 9  
subp>agraph 7,b7-- 7i7 9 ! matt] prec$+ 
clause 7i71 by /rik+ an educational     
program & ins]t+ a cov]$ educational    
program2  7ii7 9 clause 7i71 9 ! matt]  
prec$+ subclause 7,i71 by /rik+ t aw>ds 
a baccalaureate or less] degree & ins]t+
 t is a cov]$ educational program       
describ$ 9 clause 7i7 or 7ii7 ( p>agraph
 7#a77;,b712 &  7iii7 9 clause 7ii71 9 !
 matt] prec$+ subclause 7,i71 by /rik+ t
 is a graduate or pr(essional program & 
ins]t+ t is a cov]$ educational program 
describ$ 9 clause 7iii7 ( p>agraph      
7#a77;,b712  7#d7 9 p>agraph 7#d7-- 7,a7
 by /rik+ an educational program &      

ins]t+ a cov]$ educational program2 &   
7,b7 by ins]t+ cov]$ be=e educational   
programs2  7#e7 9 p>agraph 7#e7-- 7,a7  
by /rik+ ,an educational program &      
ins]t+ ,a cov]$ educational program2 &  
7,b7 by /rik+ ! educational program &   
ins]t+ ! cov]$ educational program2     
7#f7 9 p>agraph 7#f77;,a7-- 7,a7 by     
/rik+ an educational program & ins]t+ a 
cov]$ educational program2 &  7,b7 by   
/rik+ ! educational program & ins]t+ !  
cov]$ educational program1 ea* place !  
t]m appe>s2 &  7#g7 9 p>agraph 7#g71 by 
/rik+ an educational program & ins]t+ a 
cov]$ educational program4  #f4         
,regulatory ,relief  7a7 ,delay ( rule  
relat+ to borr[] def5se to repaym5t     
,section #hejja ( ! ,act titl$ ,an ,act 
to provide = reconciliation pursuant to 
title ,,ii ( ,h4 ,con4 ,res4 #ad        
7,public ,law #aai-ba2 #aci ,/at4 #gb7  
is repeal$ & any law or regulation      
ref]r$ to 9 su* section %all be appli$ z
 if su* section & ! am5dm5ts made by su*
 section _h n be5 enact$4  7b7  ,delay (

 rule relat+ to clos$ s*ool dis*>ges    
,section #hejjb ( ! ,act titl$ ,an ,act 
to provide = reconciliation pursuant to 
title ,,ii ( ,h4 ,con4 ,res4 #ad        
7,public ,law #aai-ba2 #aci ,/at4 #gb7  
is repeal$ & any law or regulation      
ref]r$ to 9 su* section %all be appli$ z
 if su* section & ! am5dm5ts made by su*
 section _h n be5 enact$4  #g4          
,modification ( excise tax on end[m5t   
income ( private colleges & univ]sities 
7a7 ,9 g5]al ,subsection 7a7 ( section  
#difh ( ! ,int]nal ,rev5ue ,code ( #aihf
 is am5d$ by /rik+ ! applicable p]c5tage
 & ins]t+ #a4d p]c5t4  7b7 ,con=m+      
am5dm5ts  7#a7 ,section #difh ( !       
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ subsection 7b7 & by r$esignat+ 
subsections 7c71 7d71 7e71 7f71 7g71 &  
7h7 z subsections 7b71 7c71 7d71 7e71   
7f71 & 7g71 respectively4  7#b7         
,subsection 7e7 ( section #difh ( su*   
,code is am5d$ by /rik+ 7c7 & 7d7 &     
ins]t+ 7b7 & 7c74  7#c7 ,p>agraph 7#a7 (
 section #difh7;g7 ( su* ,code is am5d$ 

by /rik+ 7d7 & 7f7 & ins]t+ 7c7 & 7e74  
7#d7 ,subsection 7o7 ( section #fjcc (  
su* ,code is am5d$-- 7,a7 by /rik+      
#difh7;c7 bo? places x appe>s & ins]t+  
#difh7;b71 &  7,b7 by /rik+ #difh7;e7 9 
p>agraph 7#b7 !re( & ins]t+ #difh7;d74  
7c7 ,effective date ,! am5dm5ts made by 
?is section %all apply to taxable ye>s  
beg9n+ aft] ,decemb] #ca1 #bjbe4