Sec. 9. Creating fairness in loan repayment
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/bill/116/s/2557/is/section-9·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 455(d) ( 20 U.S.C. 1087e(d) ) is amended— by redesignating paragraphs
(2)through
(5)as paragraphs
(3)through (6), respectively; in paragraph (4), as redesignated by paragraph (1), by striking paragraph
(2)and inserting paragraph
(3); and by inserting after paragraph
(1)the following: With respect to any new borrower on or after July 1, 2020, who elects a repayment plan that is authorized, created under the authority of, or otherwise offered by the Secretary under subparagraph
(D)or
(E)of paragraph (1), the borrower shall not be subject to a maximum monthly payment based on a 10-year standard repayment plan as described in section 493C(b)(6)(A) or any other maximum monthly payment. .
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Sec. 9
Creating fairness in loan repayment
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