tions as the original loan, including any suspensions 
of payments or interest accrual under section 3513 
of the Coronavirus Aid, Relief, and Economic Secu-
rity Act (20 U.S.C. 1001 note), or any extensions of 
such suspensions. 
‘‘(2) NO
AUTOMATIC
EXTENSION
OF
REPAY-
MENT PERIOD.—Refinancing a loan under this sec-
tion shall not result in the extension of the duration 
of the repayment period of the loan, and the bor-
rower shall retain the same repayment term that 
was in effect on the original loan. Nothing in this 
paragraph shall be construed to prevent a borrower 
from electing a different repayment plan at any time 
in accordance with section 455(d)(3). 
‘‘(3) LIMIT ON REFINANCING.—A loan made, 
insured, or guaranteed under this title may not be 
refinanced under this section more than twice during 
a 10-year period. 
‘‘(e) NOTIFICATION
TO
BORROWERS.—The Sec-
retary, in coordination with the Director of the Bureau 
of Consumer Financial Protection, shall undertake a cam-
paign to alert borrowers of loans that are eligible for refi-
nancing under this section that the borrowers are eligible 
to apply for such refinancing. The campaign shall include 
the following activities: 
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‘‘(1) Developing consumer information mate-
rials about the availability of Federal student loan 
refinancing. 
‘‘(2) Requiring servicers of loans under this 
part or part B to provide such consumer information 
to borrowers in a manner determined appropriate by 
the Secretary, in consultation with the Director of 
the Bureau of Consumer Financial Protection.’’. 
(c) AMENDMENTS TO PUBLIC SERVICE REPAYMENT 
PLAN PROVISIONS.—Section 455(m) of the Higher Edu-
cation Act of 1965 (20 U.S.C. 1087e(m)) is amended— 
(1) by redesignating paragraphs (3) and (4) as 
paragraphs (4) and (5), respectively; 
(2) by inserting after paragraph (2) the fol-
lowing: 
‘‘(3) SPECIAL
RULES
FOR
SECTION
460A 
LOANS.— 
‘‘(A) 
REFINANCED
FEDERAL
DIRECT 
LOANS.—Notwithstanding paragraph (1), in de-
termining the number of monthly payments 
that meet the requirements of such paragraph 
for an eligible Federal Direct Loan refinanced 
under section 460A that was originally a loan 
under this part, the Secretary shall include all 
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monthly payments made on the original loan 
that meet the requirements of such paragraph. 
‘‘(B) REFINANCED FFEL LOANS.—In the 
case of an eligible Federal Direct Loan refi-
nanced under section 460A that was originally 
a loan under part B, only monthly payments 
made after the date on which the loan was refi-
nanced may be included for purposes of para-
graph (1).’’; and 
(3) in paragraph (4)(A) (as redesignated by 
paragraph (1)), by inserting ‘‘(including any Federal 
Direct Stafford Loan, Federal Direct PLUS Loan, 
Federal Direct Unsubsidized Stafford Loan, or Fed-
eral Direct Consolidation Loan refinanced under sec-
tion 460A)’’ before the period at the end. 
(d) 
INCOME-CONTINGENT
REPAYMENT.—Section 
455(e) of the Higher Education Act of 1965 (20 U.S.C. 
1087e(e)) is amended by adding at the end the following: 
‘‘(9) 
SPECIAL
RULE
FOR
REFINANCED 
LOANS.—In calculating the period of time during 
which a borrower of a loan that is refinanced under 
section 460A has made monthly payments for pur-
poses of paragraph (7), the Secretary shall deem the 
period to include all monthly payments made for the 
original loan, and all monthly payments made for 
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the refinanced loan, that otherwise meet the require-
ments of this subsection.’’. 
(e) INCOME-BASED REPAYMENT.—Section 493C of 
the Higher Education Act of 1965 (20 U.S.C. 1098e) is 
amended by adding at the end the following: 
‘‘(f) SPECIAL RULE FOR REFINANCED LOANS.—In 
calculating the period of time during which a borrower of 
a loan that is refinanced under section 460A has made 
monthly payments for purposes of subsection (b)(7), the 
Secretary shall deem the period to include all monthly pay-
ments made for the original loan, and all monthly pay-
ments made for the refinanced loan, that otherwise meet 
the requirements of this section.’’. 
Æ 
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