II 

117TH CONGRESS 

1ST SESSION S. 821 

To amend the Higher Education Act of 1965 to establish a simplified incomedriven repayment plan, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

MARCH 18, 2021 

Mr. BURR (for himself and Mr. KING) introduced the following bill; which was 

read twice and referred to the Committee on Health, Education, Labor, 

and Pensions 

A BILL 

To amend the Higher Education Act of 1965 to establish 

a simplified income-driven repayment plan, and for other 

purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Repay Act of 2021’’. 

5 SEC. 2. SIMPLIFIED INCOME-DRIVEN REPAYMENT PLAN. 

6 Part G of title IV of the Higher Education Act of 

7 1965 (20 U.S.C. 1088 et seq.) is amended by inserting 

8 after section 493D the following: 


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1 ‘‘SEC. 493E. SIMPLIFIED INCOME-DRIVEN REPAYMENT 

2 PLAN. 

3 ‘‘(a) DEFINITIONS.—In this section: 

4 ‘‘(1) COVERED FEDERAL DIRECT LOAN.—The 

5 term ‘covered Federal Direct Loan’ means a Federal 

6 Direct Stafford Loan, a Federal Direct Unsubsidized 

7 Stafford Loan, a Federal Direct Consolidation Loan 

8 (other than a Federal Direct Consolidation Loan 

9 whose proceeds were used to discharge the liability 

10 of a Federal Direct PLUS loan made on behalf of 

11 a dependent student or a loan under section 428B 

12 made on behalf of a dependent student), or a Fed13 eral Direct PLUS Loan (other than a Federal Di14 rect PLUS Loan made on behalf of a dependent stu15 dent) made under part D. 

16 ‘‘(2) DISCRETIONARY INCOME.—The term ‘dis17 cretionary income’ means the amount by which a 

18 borrower’s (and the borrower’s spouse, if applicable) 

19 annual adjusted gross income exceeds 150 percent of 

20 the poverty line applicable to the borrower’s family 

21 size. 

22 ‘‘(3) DISCRETIONARY INCOME BEND POINT.— 

23 The term ‘discretionary income bend point’ means 

24 $25,000, adjusted annually for inflation as deter25 mined by the Consumer Price Index (as such term 


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1 is defined in section 478(f)) for the previous cal2 endar year. 

3 ‘‘(4) INCOME-DRIVEN CALCULATION.— 

4 ‘‘(A) IN GENERAL.—The term ‘income5 driven calculation’, when used with respect to a 

6 borrower, means the annual amount due on the 

7 total amount of covered Federal Direct Loans, 

8 which annual amount is equivalent to— 

9 ‘‘(i) 10 percent of the borrower’s dis10 cretionary income that is less than the dis11 cretionary income bend point, plus 

12 ‘‘(ii) 15 percent of the borrower’s dis13 cretionary income that is equal to or great14 er than the discretionary income bend 

15 point. 

16 ‘‘(B) ANNUAL CALCULATION.—The cal17 culation under subparagraph (A) shall be deter18 mined on an annual basis for the duration of 

19 the repayment period described in subsection 

20 (b). 

21 ‘‘(5) NEW BORROWER.—The term ‘new bor22 rower’ means a borrower who— 

23 ‘‘(A) as of July 1, 2022, has no out24 standing balance on a student loan made, in25 sured, or guaranteed under part B or D; or 


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1 ‘‘(B) has no outstanding balance on a stu2 dent loan made, insured, or guaranteed under 

3 part B or D on the date the borrower receives 

4 a loan made under part D on or after July 1, 

5 2022. 

6 ‘‘(b) SIMPLIFIED INCOME-DRIVEN REPAYMENT

7 PLAN AUTHORIZED.— 

8 ‘‘(1) IN GENERAL.—The Secretary shall carry 

9 out a simplified income-driven repayment program 

10 for new borrowers that meets the following require11 ments: 

12 ‘‘(A) A new borrower of any covered Fed13 eral Direct Loan may elect to have the bor14 rower’s aggregate monthly payment for all such 

15 loans equal to the income-driven calculation, di16 vided by 12. 

17 ‘‘(B) The holder of such a loan shall apply 

18 the borrower’s monthly payment under this sub19 section first toward interest due on the loan, 

20 next toward any fees due on the loan, and then 

21 toward the principal of the loan. 

22 ‘‘(C) Any interest due and not paid under 

23 subparagraph (B)— 

24 ‘‘(i) shall, on Federal Direct Stafford 

25 Loans, be paid by the Secretary for a peVerDate Sep 11 2014 20:37 Apr 10, 2021 Jkt 019200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\S821.IS S821

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1 riod of not more than 3 years after the 

2 date of the borrower’s election under sub3 paragraph (A), except that such period 

4 shall not include any period during which 

5 the borrower is in deferment due to an eco6 nomic hardship described in section 

7 435(o); and 

8 ‘‘(ii) shall be capitalized— 

9 ‘‘(I) in the case of a Federal Di10 rect Stafford Loan, subject to clause 

11 (i)— 

12 ‘‘(aa) at the time the bor13 rower ends the election to make 

14 simplified income-driven repay15 ment under this subsection; or 

16 ‘‘(bb) at the time the bor17 rower’s monthly payment calcula18 tion under subparagraph (A) ex19 ceeds the monthly payment cal20 culation under the fixed repay21 ment plan, based on a 10-year 

22 repayment period, when the bor23 rower first made the election 

24 under subparagraph (A); and 


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1 ‘‘(II) in the case of a Federal Di2 rect Unsubsidized Stafford Loan— 

3 ‘‘(aa) at the time the bor4 rower ends the election to make 

5 simplified income-driven repay6 ment under this subsection; or 

7 ‘‘(bb) at the time the bor8 rower’s monthly payment calcula9 tion under subparagraph (A) ex10 ceeds the monthly payment cal11 culation under the fixed repay12 ment plan, based on a 10-year 

13 repayment period, when the bor14 rower first made the election 

15 under subparagraph (A). 

16 ‘‘(D) Any principal due and not paid under 

17 subparagraph (B) shall be deferred. 

18 ‘‘(E) The amount of time a new borrower 

19 shall make monthly payments under subpara20 graph (A) may exceed 10 years. 

21 ‘‘(F) If the borrower no longer wishes to 

22 continue the election under this subsection, 

23 then— 

24 ‘‘(i) the maximum monthly payment 

25 required to be paid for all covered Federal 


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1 Direct Loans shall be equal to the monthly 

2 amount calculated under section 

3 428(b)(9)(A)(i) or 455(d)(1)(A), based on 

4 a 10-year repayment period, when the bor5 rower first made the election described in 

6 this subsection; and 

7 ‘‘(ii) the amount of time the borrower 

8 is permitted to repay such loans may ex9 ceed 10 years. 

10 ‘‘(G) The Secretary shall cancel the out11 standing balance of principal and interest due 

12 for a new borrower whose balance of principal 

13 of covered Federal Direct Loans did not exceed 

14 $57,500 on the date the borrower’s repayment 

15 period began, or whose balance of principal of 

16 covered Federal Direct Loans did not exceed 

17 the maximum aggregate amount of loans an 

18 independent undergraduate student could bor19 row, pursuant to section 428H(d)(4)(B), on the 

20 date the borrower’s final covered Federal Direct 

21 Loan was disbursed, whichever amount is great22 er, if the borrower— 

23 ‘‘(i) at any time, elected to participate 

24 under subparagraph (A); and 

25 ‘‘(ii) for 20 years— 


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1 ‘‘(I) made monthly payments 

2 pursuant to subparagraph (A); or 

3 ‘‘(II) was in deferment due to an 

4 economic hardship described in sec5 tion 435(o). 

6 ‘‘(H) The Secretary shall cancel the out7 standing balance of principal and interest due 

8 for a new borrower whose balance of principal 

9 of covered Federal Direct Loans exceeded 

10 $57,500 on the date the borrower’s repayment 

11 period began, or whose balance of principal of 

12 covered Federal Direct Loans exceeded the 

13 maximum aggregate amount of loans an inde14 pendent undergraduate student could borrow, 

15 pursuant to section 428H(d)(4)(B), on the date 

16 the borrower’s final covered Federal Direct 

17 Loan was disbursed, whichever amount is great18 er, if the borrower— 

19 ‘‘(i) at any time, elected to participate 

20 under subparagraph (A); and 

21 ‘‘(ii) for 25 years— 

22 ‘‘(I) made monthly payments 

23 pursuant to subparagraph (A); or 


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1 ‘‘(II) was in deferment due to an 

2 economic hardship described in sec3 tion 435(o). 

4 ‘‘(I) A borrower may elect to discontinue 

5 repayment pursuant to this subsection, at any 

6 time, and enter into repayment pursuant to sec7 tion 455(d)(2)(A). 

8 ‘‘(2) MONTHLY PAYMENTS.—Only monthly pay9 ments made pursuant to paragraph (1)(A) shall be 

10 considered eligible payments toward the forgiveness 

11 of outstanding loan principal and interest under sub12 paragraphs (G) and (H) of paragraph (1). 

13 ‘‘(c) ELIGIBILITY DETERMINATIONS.—The Secretary 

14 shall annually determine a borrower’s eligibility for the 

15 simplified income-driven repayment plan under this sec16 tion through— 

17 ‘‘(1) verification of a borrower’s annual ad18 justed gross income; 

19 ‘‘(2) the annual amount due on the total 

20 amount of covered Federal Direct Loans; and 

21 ‘‘(3) such other procedures as are necessary to 

22 effectively implement the simplified income-driven 

23 repayment plan under this section. 

24 ‘‘(d) SPECIAL RULE FOR MARRIED BORROWERS FIL25 ING SEPARATELY.—In the case of a married borrower who 


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1 files a separate Federal income tax return, the Secretary 

2 shall calculate the borrower’s income-driven calculation on 

3 the basis of the borrower’s total amount due on covered 

4 Federal Direct Loans and the married couple’s combined 

5 adjusted gross income. In the case of a married couple 

6 in which both individuals repay their loans under this sec7 tion, the Secretary shall calculate each borrower’s income8 driven calculation on the basis of each borrower’s total 

9 amount due on covered Federal Direct Loans and the 

10 married couple’s combined adjusted gross income divided 

11 by 2. 

12 ‘‘(e) ANNUAL INCOME VERIFICATION.— 

13 ‘‘(1) IN GENERAL.—A borrower who elects to 

14 participate in the simplified income-driven repay15 ment plan under this section shall submit to the Sec16 retary, on an annual basis, verification of the bor17 rower’s annual adjusted gross income. 

18 ‘‘(2) CONSEQUENCE OF FAILURE TO SUBMIT.— 

19 With respect to a borrower who fails to submit to 

20 the Secretary verification of the borrower’s annual 

21 adjusted gross income as required under paragraph 

22 (1), any monthly payments made during the period 

23 the borrower is in violation of the requirement of 

24 paragraph (1) shall not be considered eligible pay25 ments toward the forgiveness of outstanding loan 


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1 principal and interest under subparagraphs (G) and 

2 (H) of subsection (b)(1).’’. 

3 SEC. 3. STREAMLINING REPAYMENT PLANS FOR NEW BOR4 ROWERS. 

5 Section 455 of the Higher Education Act of 1965 (20 

6 U.S.C. 1087e) is amended— 

7 (1) by striking subsection (d) and inserting the 

8 following: 

9 ‘‘(d) REPAYMENT PLANS.— 

10 ‘‘(1) DESIGN AND SELECTION FOR BORROWERS

11 BEFORE JULY 1, 2022.—With respect to a borrower 

12 of a loan made under this part before July 1, 2022, 

13 and consistent with criteria established by the Sec14 retary, the Secretary shall offer such borrower a va15 riety of plans for repayment of such loan, including 

16 principal and interest on the loan. The borrower 

17 shall be entitled to accelerate, without penalty, re18 payment on the borrower’s loans under this part. 

19 The borrower may choose— 

20 ‘‘(A) a fixed repayment plan, consistent 

21 with subsection (a)(1) of this section and with 

22 section 428(b)(9)(A)(i); 

23 ‘‘(B) a graduated repayment plan, con24 sistent with section 428(b)(9)(A)(ii); 


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1 ‘‘(C) an extended repayment plan, con2 sistent with section 428(b)(9)(A)(iv), except 

3 that the borrower shall annually repay a min4 imum amount determined by the Secretary in 

5 accordance with section 428(b)(1)(L); 

6 ‘‘(D) an income contingent repayment 

7 plan, with varying annual repayment amounts 

8 based on the income of the borrower, paid over 

9 an extended period of time prescribed by the 

10 Secretary, not to exceed 25 years, except that 

11 the plan described in this subparagraph shall 

12 not be available to the borrower of a Federal 

13 Direct PLUS loan made on behalf of a depend14 ent student; and 

15 ‘‘(E) an income-based repayment plan that 

16 enables borrowers who have a partial financial 

17 hardship to make a lower monthly payment in 

18 accordance with section 493C, except that the 

19 plan described in this subparagraph shall not be 

20 available to the borrower of a Federal Direct 

21 PLUS Loan made on behalf of a dependent 

22 student or a Federal Direct Consolidation 

23 Loan, if the proceeds of such loan were used to 

24 discharge the liability on such Federal Direct 


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1 PLUS Loan or a loan under section 428B 

2 made on behalf of a dependent student. 

3 ‘‘(2) DESIGN AND SELECTION FOR NEW BOR4 ROWERS ON OR AFTER JULY 1, 2022.—The Secretary 

5 shall offer a borrower of a loan made under this part 

6 on or after July 1, 2022, the following plans for re7 payment of such loan, including principal and inter8 est on the loan. The borrower shall be entitled to ac9 celerate, without penalty, repayment on the bor10 rower’s loans under this part. The borrower may 

11 choose— 

12 ‘‘(A) a fixed repayment plan, consistent 

13 with subsection (a)(1) of this section and with 

14 section 428(b)(9)(A)(i); or 

15 ‘‘(B) a simplified income-driven repayment 

16 plan, consistent with section 493E, except the 

17 plan described in this subparagraph shall not be 

18 available to a borrower of a Federal Direct 

19 PLUS Loan made on behalf of a dependent 

20 student, a Federal Direct Consolidation Loan, 

21 if the proceeds of such loan were used to dis22 charge the liability on such Federal Direct 

23 PLUS Loan or a loan under section 428B 

24 made on behalf of a dependent student. 


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1 ‘‘(3) BORROWER NON-SELECTION.—If a bor2 rower of a loan made under this part does not select 

3 a repayment plan described in paragraph (1) or (2), 

4 the Secretary may provide the borrower with a re5 payment plan described in subparagraph (A), (B), or 

6 (C) of paragraph (1) for borrowers before July 1, 

7 2022, or a repayment plan described in paragraph 

8 (2)(A) for new borrowers on or after July 1, 2022. 

9 ‘‘(4) CHANGES IN SELECTIONS.—The borrower 

10 of a loan made under this part may change the bor11 rower’s selection of a repayment plan under para12 graph (1) or (2), or the Secretary’s selection of a 

13 plan for the borrower under paragraph (3), as the 

14 case may be, under such terms and conditions as 

15 may be established by the Secretary. 

16 ‘‘(5) ALTERNATIVE REPAYMENT PLANS.—The 

17 Secretary may provide, on a case-by-case basis, an 

18 alternative repayment plan to a borrower of a loan 

19 made under this part on or after July 1, 2022, who 

20 demonstrates to the satisfaction of the Secretary 

21 that the terms and conditions of the repayment 

22 plans available under paragraph (2) are not ade23 quate to accommodate the borrower’s exceptional 

24 circumstances. Upon request, the Secretary shall 

25 make available for such borrower’s repayment plans 


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1 described in subparagraphs (B) and (C) of para2 graph (1). In designing such alternative repayment 

3 plans, the Secretary shall ensure that such plans do 

4 not exceed the cost to the Federal Government, as 

5 determined on the basis of the present value of fu6 ture payments by such borrowers, of loans made 

7 using the plans available under paragraph (2). 

8 ‘‘(6) REPAYMENT AFTER DEFAULT.—For any 

9 borrower who has defaulted on a loan made under 

10 this part, the Secretary— 

11 ‘‘(A) may require the borrower to pay all 

12 reasonable collection costs associated with such 

13 loan; and 

14 ‘‘(B) if such loan was made— 

15 ‘‘(i) to any borrower who, before July 

16 1, 2022, had an outstanding balance on a 

17 student loan made, insured, or guaranteed 

18 under this part or part B, may require the 

19 borrower to repay the loan pursuant to an 

20 income contingent repayment plan, as de21 scribed in paragraph (1)(D), or an income22 based repayment plan, as described in 

23 paragraph (1)(E); or 

24 ‘‘(ii) to a new borrower (as defined in 

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1 rower the option to enroll in the repayment 

2 plan described in paragraph (2)(B). 

3 ‘‘(7) APPLICABILITY PROVISION.— 

4 ‘‘(A) IN GENERAL.—Except as provided in 

5 paragraph (5) and subparagraph (B), the re6 payment plans under subparagraphs (B), (C), 

7 (D), and (E) of paragraph (1) are not available 

8 for a borrower who received the borrower’s first 

9 disbursement of a Federal Direct Loan on or 

10 after July 1, 2022. 

11 ‘‘(B) EXCEPTION.—The repayment plans 

12 available to a borrower of a Federal Direct 

13 PLUS Loan made on behalf of a dependent 

14 student or a Federal Direct Consolidation Loan 

15 whose proceeds were used to discharge the li16 ability of a Federal Direct PLUS Loan made 

17 on behalf of a dependent student or a loan 

18 under section 428B made on behalf of a de19 pendent student on or after July 1, 2022, shall 

20 be those described under subparagraphs (A), 

21 (B), and (C) of paragraph (1).’’; and 

22 (2) in subsection (m)— 

23 (A) in paragraph (1)— 


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1 (i) in the paragraph heading, by strik2 ing ‘‘IN GENERAL’’ and inserting ‘‘BOR3 ROWERS BEFORE JULY 1, 2022’’; and 

4 (ii) in the matter preceding subpara5 graph (A), by striking ‘‘The Secretary’’ 

6 and inserting ‘‘Except as provided in para7 graph (5), the Secretary’’; 

8 (B) in paragraph (2), by inserting ‘‘or (5)’’ 

9 after ‘‘paragraph (1)’’; and 

10 (C) by adding at the end the following: 

11 ‘‘(5) SIMPLIFIED INCOME-DRIVEN REPAYMENT

12 FOR NEW BORROWERS ON OR AFTER JULY 1, 2022.— 

13 ‘‘(A) IN GENERAL.—With respect to an eli14 gible Federal Direct Loan not in default made 

15 under this part on or after July 1, 2022, the 

16 Secretary shall cancel the balance of interest 

17 and principal due, after the conclusion of the 

18 employment period described in paragraph 

19 clause (iv), as of the time of such cancellation, 

20 on any such loan for a borrower who— 

21 ‘‘(i) as of July 1, 2022, had no out22 standing balance on a student loan made, 

23 insured, or guaranteed under this part or 

24 part B or had no outstanding balance on 

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1 teed under this part or part B on the date 

2 the borrower received the loan made under 

3 this part on or after July 1, 2022; 

4 ‘‘(ii) has made 120 monthly payments 

5 on the eligible Federal Direct Loan under 

6 a simplified income-driven repayment plan 

7 under subsection (d)(2)(B); 

8 ‘‘(iii) is employed in a public service 

9 job at the time of such forgiveness; and 

10 ‘‘(iv) has been employed in a public 

11 service job during the period in which the 

12 borrower makes each of the 120 payments 

13 described in clause (ii). 

14 ‘‘(B) ANNUAL INCOME VERIFICATION.— 

15 With respect to a borrower who fails to submit 

16 to the Secretary verification of the borrower’s 

17 annual adjusted gross income as required under 

18 section 493E(e), any monthly payments made 

19 during the period the borrower is in violation of 

20 such requirement shall not be considered eligi21 ble payments under subparagraph (A)(ii) to22 ward the cancellation pursuant to this para23 graph of the balance of interest and principal 

24 due on the borrower’s loan.’’. 


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1 SEC. 4. FIXED REPAYMENT PLAN. 

2 The Higher Education Act of 1965 (20 U.S.C. 1001 

3 et seq.) is amended— 

4 (1) in section 153(a)(1)(B)(iii)(V), by striking 

5 ‘‘standard repayment plan’’ and inserting ‘‘fixed re6 payment plan’’; 

7 (2) in section 428(b)(9)(A)(i), by striking 

8 ‘‘standard repayment plan’’ and inserting ‘‘fixed re9 payment plan’’; 

10 (3) in section 433(b)(7)(B), by striking ‘‘stand11 ard repayment plan’’ and inserting ‘‘fixed repayment 

12 plan’’; 

13 (4) in section 455— 

14 (A) in subsection (e)(7)(B)(iv), by striking 

15 ‘‘standard repayment plan’’ and inserting 

16 ‘‘fixed repayment plan’’; and 

17 (B) in subsection (m)(1)(A)(ii), by striking 

18 ‘‘standard repayment plan’’ and inserting 

19 ‘‘fixed repayment plan’’; and 

20 (5) in section 493C— 

21 (A) in subsection (a)(3)(A), by striking 

22 ‘‘standard repayment plan’’ and inserting 

23 ‘‘fixed repayment plan’’; and 

24 (B) in subsection (b)— 


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1 (i) in paragraph (7)(B)(iii), by strik2 ing ‘‘standard repayment plan’’ and insert3 ing ‘‘fixed repayment plan’’; and 

4 (ii) in paragraph (8), by striking 

5 ‘‘standard repayment plan’’ and inserting 

6 ‘‘fixed repayment plan’’. 

7 SEC. 5. NOTIFICATION TO BORROWERS ABOUT REPAYMENT 

8 OPTIONS AND ALTERNATIVES TO DEFAULT. 

9 Not later than 1 year after the date of enactment 

10 of this Act, the Secretary of Education shall require 

11 servicers of loans made, insured, or guaranteed under part 

12 B or D of title IV of the Higher Education Act of 1965 

13 (20 U.S.C. 1071 et seq. and 1087a et seq.) to— 

14 (1) notify borrowers, in writing and through 

15 electronic format, about all repayment options for 

16 which the borrower may qualify; 

17 (2) provide borrowers, in writing and through 

18 electronic format, information about alternative re19 payment plans, including the borrower’s estimated 

20 monthly payment, expected number of years to 

21 repay, expected amount of loan forgiveness, expected 

22 total loan forgiveness, and expected total principal 

23 and interest paid, associated with each repayment 

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1 pare the current repayment plan with alternative re2 payment plans; and 

3 (3) offer to enroll such borrowers in alternative 

4 plans, if eligible. 

5 SEC. 6. GAO STUDY ON IMPROVING ENROLLMENT AND 

6 VERIFICATION ASSOCIATED WITH INCOME7 DRIVEN REPAYMENT. 

8 Not later than 2 years after the date of enactment 

9 of this Act, the Comptroller General of the United States, 

10 in consultation with the Secretary of the Treasury, shall— 

11 (1) complete a study that— 

12 (A) examines the feasibility of simplifying 

13 the process for enrolling in, and verifying an14 nual eligibility for, the simplified income-driven 

15 repayment program authorized under the 

16 amendments made by this Act; and 

17 (B) provides recommendations, including 

18 those relating to streamlined income and em19 ployment verification and simplified methods of 

20 repayment, for efficient administration of in21 come-based repayment programs, including 

22 those authorized under the amendments made 

23 by this Act; and 

24 (2) prepare and submit a report to the Com25 mittee on Health, Education, Labor, and Pensions 


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1 of the Senate and the Committee on Education and 

2 the Workforce of the House of Representatives set3 ting forth the conclusions of the study described in 

4 paragraph (1) in such a manner that the rec5 ommendations included in the report can inform fu6 ture reauthorizations of the Higher Education Act of 

7 1965 (20 U.S.C. 1001 et seq.). 

Æ 


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