Sec. 132. Extending the length of borrower relief due to the coronavirus emergency
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Section 3513 of division A of the Coronavirus Aid, Relief, and Economic Security Act ( Public Law 116–136 ) is amended— by amending subsection
(a)to read as follows: During the period beginning on March 13, 2020, and ending on September 30, 2021, the Secretary or, as applicable, the Secretary of Health and Human Services, shall suspend all payments due on Federal student loans. For one additional 30-day period beginning on the day after the last day of the suspension period described in subsection (a), the Secretary or, as applicable, the Secretary of Health and Human Services, shall ensure that any missed payments on a Federal student loan by a borrower during such additional 30-day period— do not result in collection fees or penalties associated with late payments; and are not reported to any consumer reporting agency or otherwise impact the borrower’s credit history. The Secretary or, as applicable, the Secretary of Health and Human Services shall— with respect to a holder of a Federal student loan defined in subparagraph
(B)or
(C)of section 3502(a)(2)— determine any losses for such holder due to the suspension of payments on such loan under paragraph (1); and establish reasonable compensation for such losses; and not later than 60 days after the date of enactment of the Pandemic Education Response Act, with respect to a borrower who made a payment on a Federal student loan defined in subparagraph
(B)or
(C)of section 3502(a)(2) during the period beginning on March 13, 2020, and ending on such date of enactment, the Secretary shall pay to the borrower, an amount equal to the lower of— the amount paid by the borrower on such loan during such period; or the amount that was due on such loan during such period. A borrower who is repaying a Federal student loan pursuant to an income-contingent repayment plan under section 455(d)(1)(D) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(d)(1)(D) ) or an income-based repayment plan under section 493C of such Act ( 20 U.S.C. 1098e ) shall not be required to recertify the income or family size of the borrower under such plan prior to December 31, 2021. ; in subsection (c), by striking part D or B of title IV of the Higher Education Act of 1965 ( and inserting 20 U.S.C. 1087a et seq.; 1071 et seq.) part B, D, or E of title IV of the Higher Education Act of 1965 ( ; 20 U.S.C. 1087a et seq.; 1071 et seq.; 1087aa et seq.) in subsection (d), by striking During the period in which the Secretary suspends payments on a loan under subsection (a), the Secretary and inserting During the period in which payments on a Federal student loan are suspended under subsection (a), the Secretary or, as applicable, the Secretary of Health and Human Services ; in subsection (e), by striking During the period in which the Secretary suspends payments on a loan under subsection (a), the Secretary and inserting During the period in which payments on a Federal student loan are suspended under subsection (a), the Secretary or, as applicable, the Secretary of Health and Human Services ; and in subsection (f), by striking the Secretary and inserting the Secretary or, as applicable, the Secretary of Health and Human Services, .
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Sec. 132
Extending the length of borrower relief due to the coronavirus emergency
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