; exceeds (B) 150 percent of the poverty line applicable to the borrower's family size as determined under section 673(2) of the Community Services Block Grant Act ( 42 U.S.C. 9902(2) ). (b) Revised income-Based plan Notwithstanding any other provision of this Act, the Secretary shall carry out a program for new borrowers and any borrowers of covered Federal Direct Loans made on or after July 1, 2018, that meets the following requirements: (1) Monthly payment amount Except as otherwise provided in this subsection, a new borrower of any covered Federal Direct Loan, or any borrower of any covered Federal Direct Loan, may elect to have the borrower’s aggregate monthly payment for all such loans not to exceed the result of the income-based calculation divided by 12. (2) Application of payment The Secretary shall apply the borrower's monthly payment under this subsection on such a loan first toward interest due on the loan, next toward any fees due on the loan, and then toward the principal of the loan. (3) Interest (A) In general Subject to subparagraph (B), if the borrower's monthly payment amount under paragraph (1) is not sufficient to pay the accrued interest on the borrower’s loan, such interest shall be paid by the borrower or be capitalized. (B) No accrual of interest after 10 years Notwithstanding section 455(b)(8) or any other provision of this title, interest shall cease accruing on a loan being repaid under this subsection, after the borrower has made payments under this subsection on such loan in an amount equal to— (i) the amount the borrower would have repaid under 455(d)(1)(A) on such loan, based on a 10-year repayment period, when the borrower first made the election described in this subsection, plus (ii) the amount of any interest that accrued (or was capitalized) during a forbearance or deferment period or any similar period, on the portion of the loan that was being repaid in accordance with clause (i). (4) Selection of different repayment plan A borrower who no longer wishes to repay under the