; and (B) by striking and income-contingent and all that follows through under part D and inserting and an income-driven repayment assistance plan under section 494A for loans made under part D . (2) PSLF Section 455(m)(1)(A) ( 20 U.S.C. 1087e(m)(1)(A) ) is amended— (A) by striking or at the end of clause (iii); (B) in clause (iv), by striking and and inserting or ; and (C) by inserting at the end the following: (v) payments under an income-driven repayment assistance plan under section 494A; and . 5. Income-driven repayment assistance plan (a) Establishment of new plan Part G of title IV ( 20 U.S.C. 1088 et seq. ) is amended by adding at the end the following: 494A. Income-driven repayment assistance program (a) In general Notwithstanding any other provision of this Act, the Secretary shall carry out a program under which— (1) a borrower of any loan made, insured, or guaranteed under part B or D (other than an excepted PLUS loan or excepted consolidation loan), may elect to have the borrower’s aggregate monthly payment for all such loans not exceed the applicable monthly payment for the borrower, except that a borrower may not be precluded from repaying an amount that exceeds such applicable monthly payment for any month; (2) the Secretary shall apply the borrower’s monthly payment under this section first toward interest due on such a loan, next toward any fees due on the loan, and then toward the principal of the loan; (3) any principal due and not paid under paragraph (2) shall be deferred; (4) the amount of time the borrower makes monthly payments under paragraph (1) may exceed 10 years; (5) the Secretary provides the repayment assistance for distressed borrowers described in subsection (c); (6) the Secretary shall repay or cancel any outstanding balance of principal and interest due on all loans made under part B or D (other than excepted PLUS loans or excepted consolidation loans) to a borrower— (A) who, at any time, elected to participate in income-driven repayment assistance under paragraph (1)