; and (B) to cancel a qualified loan amount for a loan made under part D of this title. (3) Qualified loan amount After the borrower has made 120 monthly payments described in paragraph (1) , the Secretary shall forgive— (A) with respect to new borrowers on or after the date of enactment of the Student Loan Fairness Act , the sum of— (i) the balance of principal and fees due on the borrower’s eligible loans as of the time of such forgiveness, not to exceed $45,520; and (ii) the amount of interest that has accrued on the balance described in clause (i) as of the time of such forgiveness; or (B) with respect to any other eligible borrower, the balance of principal, interest, and fees due on the borrower’s eligible loans as of the time of such forgiveness. (4) Exclusion from taxable income The amount of a borrower’s eligible loans forgiven under this section shall not be included in the gross income of the borrower for purposes of the Internal Revenue Code of 1986. (c) Supporting documentation required A borrower who has elected to participate in the 10/10 Loan Repayment Plan under subsection (a), or who is requesting forgiveness under the 10/10 Loan Forgiveness Program under subsection (b) , shall provide to the Secretary such information and documentation as the Secretary determines, by regulation, to be necessary to verify the borrower’s adjusted gross income and payment amounts made on eligible loans of the borrower for the purposes of such Plan or Program. (d) Definition of eligible loan In this section the term eligible loan means any loan made, insured, or guaranteed under part B or D. . 4. Capping interest rates for all Federal Direct loans Section 455(b) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(b) ) is amended— (1) by redesignating paragraphs (9) and (10) as paragraphs (10) and (11), respectively