; and (D) shall retain, for purposes of repayment or cancellation of any outstanding balance of principal and interest due on a loan (as described in subsection (b)(7)) any years of repayment under another income-based or income contingent repayment plan under this title. (4) Cap on interest accrual Notwithstanding any other provision of this Act, the total amount of interest that accrues during a borrower’s grace period and the time that a borrower is in repayment under this subsection shall not exceed 50 percent of the original principal amount of the loan. (5) Written, electronic, or verbal enrollment in income-based repayment (A) In general A borrower of a loan made under part D who is enrolled in the fixed repayment plan under section 493E, or who has not yet selected a repayment plan and is in the grace period for such loan, and who desires to repay such loan under the income-based repayment plan under this section for the first time, may elect to repay such loan under this section through written, electronic, or verbal notice to the Secretary of their desire to make such election. (B) Use of information (i) In general The monthly payment amount under this section for a loan for a borrower who makes an election described in subparagraph (A) shall be immediately calculated using the income and family size information provided through the borrower’s written, electronic, or verbal statement. (ii) Verification The information described in clause (i) shall be verified by the Secretary not later than 90 days after the date the borrower states such income and family size information. (iii) Adjustment if necessary Upon verification by the Secretary under clause (ii), the Secretary shall adjust the monthly payment described in clause (i) based on the verified income and family size information of the borrower, if necessary. Any increased adjusted monthly payment shall take effect beginning with the payment due not less than 60 days after the Secretary notifies the borrower of the adjusted amount. (g) Special rule