; and (B) in subsection (b)— (i) in paragraph (7)(B)(iii), by striking standard repayment plan and inserting fixed repayment plan ; and (ii) in paragraph (8), by striking standard repayment plan and inserting fixed repayment plan . 5. Notification to borrowers about repayment options and alternatives to default Not later than 1 year after the date of enactment of this Act, the Secretary of Education shall require servicers of loans made, insured, or guaranteed under part B or D of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1071 et seq. and 1087a et seq.) to— (1) notify borrowers, in writing and through electronic format, about all repayment options for which the borrower may qualify; (2) provide borrowers, in writing and through electronic format, information about alternative repayment plans, including the borrower’s estimated monthly payment, expected number of years to repay, expected amount of loan forgiveness, expected total loan forgiveness, and expected total principal and interest paid, associated with each repayment plan in a format that permits the borrower to compare the current repayment plan with alternative repayment plans; and (3) offer to enroll such borrowers in alternative plans, if eligible. 6. GAO study on improving enrollment and verification associated with income-driven repayment Not later than 2 years after the date of enactment of this Act, the Comptroller General of the United States, in consultation with the Secretary of the Treasury, shall— (1) complete a study that— (A) examines the feasibility of simplifying the process for enrolling in, and verifying annual eligibility for, the simplified income-driven repayment program authorized under the amendments made by this Act; and (B) provides recommendations, including those relating to streamlined income and employment verification and simplified methods of repayment, for efficient administration of income-based repayment programs, including those authorized under the amendments made by this Act