; and (ii) if the individual is a student borrower of a loan under this part, notify the borrower, in writing, that— (I) the borrower qualifies for cancellation under this subsection based on the determination of the Commissioner; and (II) unless the borrower requests otherwise within 30 days after receiving the notification under subclause (I), the Secretary shall cancel the borrower's liability on the loan in accordance with the requirements of this subsection; (III) there may be tax implications to the borrower for a loan cancellation under this paragraph; and (iii) if the borrower does not opt out of the cancellation under this paragraph by the date specified in the notice, cancel the borrower's liability on the loan, in accordance with the requirements of this subsection. (D) Any borrower who receives a cancellation under this paragraph may, during the 1-year period immediately following the cancellation, request that the Secretary restore the loan and reverse the cancellation without suffering any penalty. . (c) Effective date The amendments made by subsections (a) and (b) shall take effect on the date that is 120 days after the date of enactment of this Act. 110. Elimination of separate account requirement for past-due supplemental security income benefits paid to child beneficiaries (a) In general Section 1631(a)(2)(F) of the Social Security Act ( 42 U.S.C. 1383(a)(2)(F) ) is amended— (1) in clause (i)(I), by striking Each representative payee and inserting Subject to clause (v), each representative payee