; and (III) there may be tax implications to the borrower for a discharge under this paragraph; and (iii) if the borrower does not opt out of the discharge under this paragraph by the date specified in the notice, discharge the borrower's liability on the loan, in accordance with the requirements of this section. (D) Grace period Any borrower who receives a discharge under this paragraph may, during the 1-year period immediately following the discharge, request that the Secretary restore the loan and reverse the discharge without suffering any penalty. (E) Treatment of certain reassigned individuals An individual who is classified by the Commissioner of Social Security as medical improvement not expected for purposes of entitlement to benefits under title II of the Social Security Act ( 42 U.S.C. 401 et seq.) on the basis of a disability and who is subsequently reclassified for such purposes as a result of changes to the standards or procedures under which the Commissioner makes such classifications— (i) shall, notwithstanding such reclassification, be considered permanently and totally disabled for the purpose of discharging such borrower's loans under this subsection; and (ii) shall, notwithstanding such reclassification, not be required to present additional documentation for purposes of this subsection. . (b) Perkins loans Section 464(c) of the Higher Education Act of 1965 ( 20 U.S.C. 1087dd(c) ) is amended by adding at the end the following: (8) (A) A student borrower whom the Commissioner of Social Security has classified as medical improvement not expected for purposes of entitlement to benefits under title II of the Social Security Act ( 42 U.S.C. 401 et seq.) on the basis of a disability— (i) shall be considered permanently and totally disabled for the purpose of cancelling such borrower's loans under paragraph (1)(F)