; (2) is more than $20,000 and less than $30,000, shall repay such loan with a fixed monthly repayment amount paid over a period of— (A) 15 years; or (B) the period described in paragraph (1), if the borrower elects such period; (3) is equal to or greater than $30,000, and less than $40,000, shall repay such loan with a fixed monthly repayment amount paid over a period of— (A) 20 years; 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 Federal Direct Consolidation Loan made on or after the date of enactment of the College Affordability 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, for purposes of this subsection— (1) any monthly payment made on the first consolidation loan or any other loan for which the liability has been discharged by such subsequent consolidation loan shall be applicable