; and (2) by inserting after subsection (k) the following: (l) Guidance to student loan servicers (1) In general In notifying a student loan servicer of a final contract modification (as such term is defined in section 2.101 of title 48, Code of Federal Regulations) that instructs such loan servicer to perform a function that is new or different from a function such servicer performs pursuant to an existing contract, the PBO shall, not later than 30 days before such contract change takes effect, provide such servicers with written guidance in the form of— (A) a change order (as such term is defined in section 2.101 of title 48, Code of Federal Regulations); (B) a dear colleague letter; or (C) an electronic announcement. (2) Non-binding directives A student loan servicer that is notified of a final contract modification described in paragraph (1) and receives guidance in a form other than a form described in paragraph (1) (including through emails or phone calls) shall not be subject to such contract modification. . (d) Requirements relating to annual bonuses of performance-Based organization officers Section 141 ( 20 U.S.C. 1018 ) is amended— (1) in subsection (c)(4)— (A) in subparagraph (A), by striking and at the end; (B) in subparagraph (B), by striking the period at the end and inserting ; and ; and (C) by adding at the end the following: (C) that the Department has carried out the borrower notifications required under section 3(a) of the FAIR Act.