; and (2) is not in default on a loan for which the borrower seeks forgiveness. (b) Qualified loan amount (1) In general The Secretary shall cancel not more than $17,500 in the aggregate of the loan obligation on a Federal Direct Stafford Loan or a Federal Direct Unsubsidized Stafford Loan that is outstanding. (2) Treatment of consolidation loans A loan amount for a Federal Direct Consolidation Loan may be a qualified loan amount for the purposes of this subsection only to the extent that such loan amount was used to repay a Federal Direct Stafford Loan, a Federal Direct Unsubsidized Stafford Loan, or a loan made under section 428 or 428H, for a borrower who meets the requirements of subsection (a), as determined in accordance with regulations prescribed by the Secretary. (c) Priority The Secretary shall grant loan forgiveness under this section on a first-come, first-served basis, and subject to the availability of appropriations. (d) Rule of construction Nothing in this section shall be construed to authorize the refunding of any repayment of a loan. . 4. Publication and report (a) Publication The Secretary of Education and the Administrator of the Small Business Administration shall each make available, on publicly accessible websites of the Department of Education and the Small Business Administration, respectively, information on the student loan deferment program for qualified entrepreneurs under section 455(f) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(f) ), as amended by this Act. (b) Report to Congress Not later than 180 days after the date of the enactment of this Act, the Secretary of Education shall submit to Congress a report that includes— (1) an assessment of the progress of the Secretary in carrying out the student loan deferment program for qualified entrepreneurs under section 455(f) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(f) ), as amended by this Act; and (2) a description of any ongoing efforts to increase participation in such program.