; (2) in subsection (e)(5)— (A) by inserting (which, beginning after the effective date of the Affordable Loans for Any Student Act , shall not be capitalized) after accrued interest ; and (B) by striking the second sentence; and (3) in subsection (q)(2), by striking the second sentence and inserting the following: Such interest shall be paid or shall accrue but not be capitalized in accordance with subsection (b)(11)(B). . (b) Income-Based repayment plans Paragraph (3)(B) of section 493C(b) ( 20 U.S.C. 1098e(b)(3)(B) ) is amended to read as follows: (B) (i) beginning on the effective date of the Affordable Loans for Any Student Act , for an eligible loan issued under part D or not otherwise described in clause (ii), shall not be capitalized and shall be added to the balance of interest due for the loan; and (ii) for an eligible loan made, insured, or guaranteed under part B and held by a private lender, shall be added to the principal amount and capitalized at the time the borrower— (I) ends the election to make income-based repayment under this subsection; or (II) begins making payments of not less than the amount specified in paragraph (6)(A)