Sec. 4. Collection and compromise
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Section 3711 of title 31, United States Code, is amended by adding at the end the following: Nothing in this section shall permit the Secretary of Education to exercise any authority under this section without first satisfying the requirements established under section 488A(f) of the Higher Education Act of 1965 ( 20 U.S.C. 1095a(f) ). Notwithstanding any other provision of law, for any debts owed to the Department of Education or insured by the Department of Education, the total amount collected under this section shall not exceed the amount that a similarly situated individual would be required to make for such month under the income-driven repayment plan that offers the lowest monthly payment, or by year in the case of a tax refund offset.
In this subsection: The term income-driven repayment means— income-based repayment authorized under section 493C of the Higher Education Act of 1965 ( 20 U.S.C. 1098e ) for loans made, insured, or guaranteed under part B or part D of title IV of such Act; or income contingent repayment authorized under section 455(e) of such Act ( 20 U.S.C. 1087e(e) ), for loans made under part D of title IV of such Act. With respect to an individual, the term similarly situated individual means another individual with an eligible loan who would be eligible to enroll in income-driven repayment and has the same income and family size characteristics.
The Secretary of Education shall not collect on a debt under the authority under this section of an individual with respect to a loan that has been outstanding for more than 10 years. .
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