; or (II) the day following the date of enactment of The Heroes Act that is 2 months after the national U–5 measure of labor underutilization shows initial signs of recovery. (ii) Definitions In this subparagraph: (I) National U–5 measure of labor underutilization The term national U–5 measure of labor underutilization means the seasonally-adjusted, monthly U–5 measure of labor underutilization published by the Bureau of Labor Statistics. (II) Initial signs of recovery The term initial signs of recovery means that the average national U–5 measure of labor underutilization for months in the most recent 3-consecutive-month period for which data are available— (aa) is lower than the highest value of the average national U–5 measure of labor underutilization for a 3-consecutive-month period during the period beginning in March 2020 and the most recent month for which data from the Bureau of Labor Statistics are available by an amount that is equal to or greater than one-third of the difference between— (AA) the highest value of the average national U–5 measure of labor underutilization for a 3-consecutive-month period during such period; and (BB) the value of the average national U–5 measure of labor underutilization for the 3-consecutive-month period ending in February 2020; and (bb) has decreased for each month during the most recent 2 consecutive months for which data from the Bureau of Labor Statistics are available. (E) Other definitions In this paragraph: (i) Default The term default — (I) in the case of a Federal student loan made, insured, or guaranteed under part B or D of the Higher Education Act of 1965, has the meaning given such term in section 435(l) of the Higher Education Act of 1965 ( 20 U.S.C. 1085 ); (II) in the case of a Federal student loan made under part E of the Higher Education Act of 1965, has the meaning given such term in section 674.2 of title 34, Code of Federal Regulations (or successor regulations)