[Congressional Record Volume 171, Number 112 (Saturday, June 28, 2025)]
[Senate]
[Pages S4001-S4002]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2525. Mr. KIM (for himself and Mr. Blumenthal) submitted an 
amendment intended to be proposed to amendment SA 2360 proposed by Mr. 
Thune (for Mr. Graham) to the bill H.R. 1, to provide for 
reconciliation pursuant to title II of H. Con. Res. 14; which was 
ordered to lie on the table; as follows:

        Strike section 82002 and insert the following:

     SEC. 82002. DEFERMENT; FORBEARANCE.

       (a) Sunset of Economic Hardship and Unemployment 
     Deferments.--Section 455(f) of

[[Page S4002]]

     the Higher Education Act of 1965 (20 U.S.C. 1087e(f)) is 
     amended--
       (1) by striking the subsection heading and inserting the 
     following: ``Deferment; Forbearance'';
       (2) in paragraph (2)--
       (A) in subparagraph (B), by striking ``not in'' and 
     inserting ``subject to paragraph (7), not in'' ; and
       (B) in subparagraph (D), by striking ``not in'' and 
     inserting ``subject to paragraph (7), not in''; and
       (3) by adding at the end the following:
       ``(7) Sunset of unemployment and economic hardship 
     deferments.--A borrower who receives a loan made under this 
     part on or after the later of July 1, 2027, or the date on 
     which the Secretary makes a determination under section 
     82002(c) of the One Big Beautiful Bill Act, shall not be 
     eligible to defer such loan under subparagraph (B) or (D) of 
     paragraph (2).''.
       (b) Forbearance on Loans Made Under This Part on or After 
     July 1, 2027.--Section 455(f) of the Higher Education Act of 
     1965 (20 U.S.C. 1087e(f)) is amended by adding at the end the 
     following:
       ``(8) Forbearance on loans made under this part on or after 
     july 1, 2027.--A borrower who receives a loan made under this 
     part on or after the later of July 1, 2027, or the date on 
     which the Secretary makes a determination under section 
     82002(c) of the One Big Beautiful Bill Act, may only be 
     eligible for a forbearance on such loan pursuant to section 
     428(c)(3)(B) that does not exceed 9 months during any 24-
     month period.''.
       (c) Certification Requirement.--
       (1) In general.--The amendments made by subsections (a) and 
     (b) shall not apply until the date on which the Chief 
     Operating Officer for the Office of Federal Student Aid 
     certifies in writing to the Secretary of Education and the 
     appropriate committees of Congress that implementation of 
     such amendments will not result in additional financial 
     hardship for any borrower who--
       (A)(i) is serving on active duty during a war or other 
     military operation or national emergency; or
       (ii) is performing qualifying National Guard duty during a 
     war or other military operation or national emergency;
       (B) is receiving treatment for cancer;
       (C) is enrolled in a rehabilitation program for physical or 
     mental impairment; or
       (D) became unemployed in the 180 days preceding the date of 
     such certification.
       (2) Definitions.--In this subsection:
       (A) Additional financial hardship.--The term ``additional 
     financial hardship'' means any--
       (i) increase in monthly payment amounts for a loan made 
     under part D of title IV of the Higher Education Act of 1965;
       (ii) loss of eligibility for any deferment or forbearance 
     option under the Higher Education Act of 1965 for which the 
     borrower would have been eligible prior to the implementation 
     of the amendments made by subsections (a) and (b); or
       (iii) other changes resulting in a materially adverse 
     impact on the ability of the borrower to afford basic living 
     expenses.
       (B) Appropriate committees of congress.--The term 
     ``appropriate committees of Congress'' means--
       (i) the Committee on Health, Education, Labor, and Pensions 
     of the Senate;
       (ii) the Committee on Appropriations of the Senate;
       (iii) the Committee on Education and Workforce of the House 
     of Representatives; and
       (iv) the Committee on Appropriations of the House of 
     Representatives.
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