EXIT COUNSELING FOR BORROWERS.

SEC. 202. EXIT COUNSELING FOR BORROWERS.Section 485(b) of the Higher Education Act of 1965 (20 U.S.C. 1092(b)) is amended— (1) by striking “and” at the end of paragraph (1); (2) by striking the period at the end of paragraph (2) and inserting in lieu thereof a semicolon and “and”; and (3) by inserting after paragraph (2) the following new paragraph: “(3) the terms and conditions under which the student may obtain partial cancellation or defer repayment of the principal and interest for service under the Peace Corps Act (as established by the Peace Corps Act (22 U.S.C. 2501 et seq.)) or under the Domestic Volunteer Service Act of 1973 (42 U.S.C. 4951 et seq.) or for comparable full-time service as a volunteer for a tax exempt organization of demonstrated effectiveness.”.