Sec. 203. Inclusion of Parent PLUS Loans in Repayment Programs
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Section 455(d)(1)(D) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(d)(1)(D) ) is amended by striking , except that the plan described in this subparagraph shall not be available to the borrower of a Federal Direct PLUS loan made on behalf of a dependent student; . Section 493C of the Higher Education Act of 1965 ( 20 U.S.C. 1098e ) is amended— in subsection (a)— by striking this section and all that follows through hardship and inserting In this section, the term ; and partial financial hardship by striking, (other than an excepted PLUS loan or excepted consolidation loan) ; in subsection (b)— in paragraph (1), by striking (other than an excepted PLUS loan or excepted consolidation loan) ; and in paragraph (6)(A), by striking (other than an excepted PLUS loan or excepted consolidation loan) ; and in subsection (c), by striking (other than an excepted PLUS loan or excepted consolidation loan), . 455(d)(1)(E) Section 455(d)(1)(E) of such Act ( 20 U.S.C. 1087e(d)(1)(D) ) is amended by striking , except that the plan described in this subparagraph shall not be available to the borrower of a Federal Direct PLUS Loan made on behalf of a dependent student or a Federal Direct Consolidation Loan, if the proceeds of such loan were used to discharge the liability on such Federal Direct PLUS Loan or a loan under section 428B made on behalf of a dependent student .
The income-contingent repayment plan (based on the President's Pay As You Earn repayment initiative) implemented in parts 674, 682, and 685 of title 34, Code of Federal Regulations, as amended by the final regulations published by the Department of Education in the Federal Register on November 1, 2012 (77 Fed. Reg. 66088 et seq.), shall be available to borrowers of— a Federal Direct PLUS loan made on behalf of a dependent student; and a Federal Direct Consolidation Loan, the proceeds of which were used to discharge the liability on a Federal Direct PLUS Loan or a loan under section 428B made on behalf of a dependent student.
Section 428K(a)(2) of such Act ( 20 U.S.C. 1078–11(a)(2) ) is amended— in subparagraph (A), by striking (other than an excepted PLUS loan or an excepted consolidation loan (as such terms are defined in section 493C(a))) ; and in subparagraph (B), by striking (other than an excepted PLUS loan or an excepted consolidation loan) .
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- 77 FR 66088
- 20 USC 1078–11(a)(2)
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Sec. 203
Inclusion of Parent PLUS Loans in Repayment Programs
Fed. Reg.77 FR 66088
Cite20 USC 1078–11(a)(2)
Cites 4Cited by 0 across 0 sources