Federal student loans (a) In general Beginning not later than 180 days after the date of enactment of the Student Loan Lower Interest Rate and Lower Monthly Payment Refinancing Act, the Secretary shall establish a process under which eligible lenders may receive loan insurance from the Secretary for the purpose of extending, upon the receipt of an application from an eligible borrower, a loan to refinance one or more eligible loans, in accordance with the provisions of this section. (b) Definitions (1) Definition of eligible borrower For the purpose of this section, the term eligible borrower means a borrower who— (A) has one or more eligible loans