DEFINITION OF ECONOMIC HARDSHIP.

SEC. 357. DEFINITION OF ECONOMIC HARDSHIP. Paragraph (1) of section 435(o) of the Higher Education Act of 1965 (20 U.S.C. 1085(o)(1)) is amended— (1) in clause (ii) of subparagraph (A), by striking “or” after the semicolon; (2) by redesignating subparagraph (B) as subparagraph (C); (3) by inserting after subparagraph (A) the following new subparagraph: “(B) such borrower is working full-time and has a Federal educational debt burden that equals or exceeds 20 percent of such borrower’s adjusted gross income, and the difference between such borrowers adjusted gross108 STAT. 3968 income minus such burden is less than 220 percent of the greater of— “(i) the annual earnings of an individual earning the minimum wage under section 6 of the Fair Labor Standards Act of 1938; or “(ii) the income official poverty line (as defined by the Office of Management and Budget, and revised annually in accordance with section 673(2) of the Community Services Block Grant Act) applicable to a family of two; or”; and (4) in paragraph (2), by striking “(1)(B)” and inserting “(1)(C)”.