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139 STAT. 338 PUBLIC LAW 119–21—JULY 4, 2025 (1) in paragraph (1)— (A) in the matter preceding subparagraph (A), by inserting ‘‘before July 1, 2026, who has not received a loan made under this part on or after July 1, 2026,’’ after ‘‘made under this part’’; (B) in subparagraph (D)— (i) by inserting ‘‘before June 30, 2028,’’ before ‘‘an income contingent repayment plan’’; and (ii) by striking ‘‘and’’ after the semicolon; (C) in subparagraph (E)— (i) by striking ‘‘that enables borrowers who have a partial financial hardship to make a lower monthly payment’’; (ii) by striking ‘‘a Federal Direct Consolidation Loan, if the proceeds of such loan were used to dis- charge the liability on such Federal Direct PLUS Loan or a loan under section 428B made on behalf of a dependent student’’ and inserting ‘‘an excepted Consoli- dation Loan (as defined in section 493C(a)(2))’’; and (iii) by striking the period at the end and inserting ‘‘; and’’; and (D) by adding at the end the following: ‘‘(F) beginning on July 1, 2026, the income-based Repayment Assistance Plan under subsection (q), provided that— ‘‘(i) such Plan shall not be available for the repay- ment of excepted loans (as defined in paragraph (7)(E)); and ‘‘(ii) the borrower is required to pay each out- standing loan of the borrower made under this part under such Repayment Assistance Plan, except that a borrower of an excepted loan (as defined in paragraph (7)(E)) may repay the excepted loan separately from other loans under this part obtained by the borrower.’’; (2) in paragraph (5), by amending subparagraph (B) to read as follows: ‘‘(B) repay the loan pursuant to an income-based repay- ment plan under subsection (q) or section 493C, as applicable.’’; and (3) by adding at the end the following: ‘‘(6) TERMINATION AND LIMITATION OF REPAYMENT AUTHORITY.— ‘‘(A) SUNSET OF REPAYMENT PLANS AVAILABLE BEFORE JULY 1, 2026.—Paragraphs (1) through (4) of this subsection shall only apply to loans made under this part before July 1, 2026. ‘‘(B) PROHIBITIONS.—The Secretary may not, for any loan made under this part on or after July 1, 2026— ‘‘(i) authorize a borrower of such a loan to repay such loan pursuant to a repayment plan that is not described in paragraph (7)(A); or ‘‘(ii) carry out or modify a repayment plan that is not described in such paragraph. ‘‘(7) REPAYMENT PLANS FOR LOANS MADE ON OR AFTER JULY 1, 2026.— ‘‘(A) DESIGN AND SELECTION.—Beginning on July 1, 2026, the Secretary shall offer a borrower of a loan made Effective date. Applicability. Effective date.