; and (B) in subparagraph (B)(iv), by striking and any succeeding fiscal year and inserting through fiscal year 2015 . (b) Adjusted cohort default rate defined Section 435(m)(1) of the Higher Education Act of 1965 ( 20 U.S.C. 1085(m)(1) ) is amended by adding at the end the following: (E) (i) With respect to a cohort default rate calculated for an institution under this paragraph for fiscal year 2016 and for each succeeding fiscal year, such cohort default rate shall be adjusted as follows: (I) In determining the number of current and former students at an institution who enter repayment for such fiscal year— (aa) any such student who is in nonmandatory forbearance for such fiscal year for a period of greater than 18 months but less than 36 months shall not be counted as entering repayment for such fiscal year; (bb) such a student shall be counted as entering repayment for the first fiscal year for which the student ceases to be in a period of forbearance and otherwise meets the requirements for being in repayment