; or (B) the period described in paragraph (1) or (2), if the borrower elects such period; and (4) is equal to or greater than $40,000, shall repay such loan with a fixed monthly repayment amount paid over a period of— (A) 25 years; or (B) the period described in any of paragraphs (1) through (3), if the borrower elects such period. (c) Treatment of certain consolidation loans In the case of a consolidation loan made under part B or D on or after the date of enactment of the Simplifying Student Loans Act that is being repaid under this section, any monthly payment made pursuant to any repayment plan listed in section 493C(b)(7)(B) on a loan for which the liability has been discharged by the proceeds of such consolidation loan shall be treated as a monthly payment under this section on the portion of such consolidation loan that is attributable to such discharged loan, except that in the case of a subsequent consolidation loan, any monthly payment on a loan for which the liability has been discharged by the first consolidation loan shall not be applicable for the purposes of this subsection. .