; 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. . (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); and (ii) shall not be required to present additional documentation for purposes of paragraph (1)(F). (B) The Secretary and the Commissioner of Social Security shall jointly develop procedures through which the Commissioner shall, on not less than a quarterly basis, provide the Secretary with such information regarding individuals who are classified as medical improvement not expected for purposes of entitlement to benefits under title II of the Social Security Act on the basis of a disability as the Secretary shall require for purposes of carrying out this paragraph. (C) After receiving information regarding a borrower from the Commissioner under subparagraph (B), the Secretary shall— (i) identify whether the individual has any loans under this part