DEPARTMENT INFORMATION ON DEFERMENTS AND CANCELLATIONS.

SEC. 203. DEPARTMENT INFORMATION ON DEFERMENTS AND CANCELLATIONS.Section 485(d) of the Higher Education Act of 1965 (20 U.S.C. 1092(d)) is amended by inserting before the last sentence the following new sentence: “The Secretary shall provide information concerning the specific terms and conditions under which students may obtain partial or total cancellation or defer repayment of loans for service, shall indicate (in terms of the Federal minimum wage) the maximum level of compensation and allowances that a student borrower may receive from a tax-exempt organization to qualify for a deferment, and shall explicitly state that students may qualify for such partial cancellations or deferments when they serve as a paid employee of a tax-exempt organization”.