; (B) prior to the institution certifying a Federal Direct Loan (other than a Federal Direct Consolidation Loan), including a Federal Direct PLUS Loan made on behalf of a student, for disbursement to a borrower; and (C) in the case of a student borrower, after ensuring that the student has completed all of the counseling requirements under subsection (l). . 303. Work study Section 485 of the Higher Education Act of 1965 ( 20 U.S.C. 1092 ), as amended by sections 301 and 302, is further amended by adding at the end the following: (o) Work study If an institution provides a student or a prospective student with a financial aid award notification that includes work study, the institution shall ensure that the notification includes an explanation that any work study funds are not directly awarded to the student or institution, and such amounts must be earned through the student's completion of work over time. . IV Streamlining Accountability and Value in Education for Students 401. Loan repayment simplification and income-driven repayment reform Section 455 of the Higher Education Act of 1965 ( 20 U.S.C. 1087e ) is amended— (1) in subsection (d)— (A) in paragraph (1)— (i) in subparagraph (B), by inserting not later than June 30, 2024, before a graduated ; (ii) in subparagraph (C), by inserting not later than June 30, 2024, before an extended ; (iii) in subparagraph (D)— (I) by inserting not later than June 30, 2024, before an income contingent ; and (II) by striking and after the semicolon; (iv) in subparagraph (E)— (I) by inserting and not later than June 30, 2024, after beginning on July 1, 2009, ; and (II) by striking the period at the end and inserting ; and ; and (v) by adding at the end the following: (F) beginning on July 1, 2024, an income contingent repayment plan known as the Revised Pay As You Earn Repayment plan , consistent with subsection (e)(9). ; (B) in paragraph (2), by striking in subparagraph (A), (B), or (C) of paragraph (1) and inserting in subparagraph (A) or (F) of paragraph (1)