; or (iv) a veteran farmer or rancher (as defined in section 2501(e) of the Food, Agriculture, Conservation, and Trade Act of 1990 ( 7 U.S.C. 2279(e) ); (2) makes 120 monthly payments on the eligible Federal Direct Loan after the date of enactment of the Student Loan Forgiveness for Farmers and Ranchers Act , pursuant to any one or a combination of— (A) payments under an income-based repayment plan under section 493C; (B) payments under a standard repayment plan under section 455(d)(1)(A), based on a 10-year repayment period; (C) monthly payments under a repayment plan under subsection (d)(1) or (g) of section 455 of not less than the monthly amount calculated under section 455(d)(1)(A), based on a 10-year repayment period; or (D) payments under an income contingent repayment plan under section 455(d)(1)(D); (3) is employed full-time as an employee or manager of a qualified farm or ranch at the time of such forgiveness; and (4) has been employed full-time as an employee or manager of a qualified farm or ranch during the period in which the borrower makes each of the qualifying payments described in paragraph (2). (c) Loan cancellation amount After the conclusion of the employment period described in subsection (b), the Secretary shall cancel the obligation to repay the balance of principal and interest due as of the time of such cancellation, on the eligible Federal Direct Loans made to the borrower under this part. (d) Removal from the program (1) In General Subject to paragraph (2), the Secretary shall remove a borrower from the agricultural student loan forgiveness program if the borrower— (A) was less than 40 years old when the borrower entered the agricultural student loan forgiveness program, and that borrower fails to be employed full-time as an employee or manager of a qualified farm or ranch for a cumulative period of more than 7 years after entering the program