; and (ii) determine the number of qualifying monthly payments made on such component loan before consolidation; (C) calculate the number of qualifying monthly payments determined under subparagraph (B)(ii) with respect to a component loan that shall be deemed as qualifying monthly payments made on the Federal Direct Consolidation Loan by multiplying— (i) the weighted factor of such component loan as determined under subparagraph (B)(i); by (ii) the number of qualifying monthly payments made on such component loan as determined under subparagraph (B)(ii); and (D) calculate and inform the borrower of the total number of qualifying monthly payments with respect to the component loans of the Federal Direct Consolidation Loan that shall be deemed as qualifying monthly payments made on the refinanced Federal Consolidation Loan, by— (i) adding together the result of each calculation made under subparagraph (C) with respect to each such component loan; and (ii) rounding the number determined under clause (i) to the nearest whole number. (2) Component loan defined In this subsection, the term component loan , used with respect to a Federal Direct Consolidation Loan, means a loan for which the liability was discharged by the proceeds of such Federal Direct Consolidation Loan. . (d) Conforming amendments The Higher Education Act of 1965 ( 20 U.S.C. 1001 et seq. ) is amended— (1) in section 428C(a)(3)(B)(i)(V) ( 20 U.S.C. 1078–3(3)(B)(i)(V) )— (A) by striking the period at the end of item (cc) and inserting a semicolon; (B) by striking the period at the end of item (dd) and inserting ; or