; transition Sec. 501. Effective date; rulemaking regarding termination of certain repayment plans. 2. References in Act Except as otherwise expressly provided in this Act, wherever an amendment or repeal is expressed in terms of an amendment to or repeal of a section or other provision, the reference shall be considered to be made to that section or other provision of the Higher Education Act of 1965 ( 20 U.S.C. 1001 et seq.). I Simplifying repayment plans 101. Income-based repayment plan (a) Simplifying the income-Based repayment plan Section 493C ( 20 U.S.C. 1098e ) is amended— (1) in subsection (b)— (A) by striking Income-Based repayment program authorized.— and inserting the following: Income-Based repayment program for borrowers who enter income-Based repayment before July 1, 2019.— ; (B) in paragraph (3)(A), by striking except that and all that follows through section 435(o) ; (C) in paragraph (8), by striking the standard repayment plan; and and inserting the fixed repayment plan under section 493E; ; (D) in paragraph (9), by striking the period at the end and inserting ; and ; and (E) by adding at the end the following: (10) a borrower who is repaying a loan made under part B or D pursuant to income-based repayment may repay such loan in full at any time without penalty. ; and (2) by striking subsection (c) and inserting the following: (c) Income-Based repayment program for new loans on and after July 1, 2019 and for borrowers who enter income-Based repayment after July 1, 2019 (1) In General Notwithstanding any other provision of this section, the provisions of this subsection shall apply— (A) with respect to any loan made, insured, or guaranteed under part B or D on or after July 1, 2019, for which the borrower elects the income-based repayment plan under this section