; and (cc) with respect to a borrower whose income, as determined under subclause (II), was more than $95,000 in the taxable year in which the borrower paid an amount from the balance of a loan made under this part earlier than required under the applicable repayment plan, 5 percentage points of such amount. (II) Income determination For purposes of subclause (I), a borrower's income is equal to the amount of the gross income of the borrower for the taxable year that exceeds $10,000 (adjusted each year to reflect changes in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics for the Department of Labor for the most recent 12-month period for which such data are available). (D) Methodology of payment The Secretary shall establish an amortization schedule for the repayment of financing fees charged under this subsection. (4) Rulemaking for consolidation Not later than 18 months after the date of enactment of the LOAN Act of 2019, the Secretary shall promulgate rules regarding Federal Direct Consolidation Loans made under this part in accordance with this subsection, including a rule that the financing fee for such a Federal Direct Consolidation Loan determined in accordance with this subsection shall not exceed the sum of the financing fees applicable to the consolidated loans. . 3. Income dependent education assistance repayment plan Part D of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1087a et seq.) is amended by adding at the end the following: 460A. Income dependent education assistance repayment plan (a) In general (1) Applicability Notwithstanding any other provision of this Act, with respect to any loan made under this part after the date of enactment of the LOAN Act of 2019, the repayment plan options are only a 10-year fixed repayment plan and the repayment plan under this section. If the borrower of the loan does not select a repayment plan, the repayment of such loan shall be made in accordance with this section. A borrower of a loan made under this