; (B) by striking the period at the end of item (dd) and inserting ; or ; and (C) by adding at the end the following: (ee) for the purpose of obtaining a Federal Direct Consolidation Loan under section 460A(b). . II Terms and conditions for new Federal student loans 201. Applicable rates of interest for loans made on or after July 1, 2024 Section 455(b)(8) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(b)(8) ) is amended— (1) in the paragraph heading, by inserting and before July 1, 2024 after July 1, 2013 ; (2) in subparagraph (A), by inserting and before July 1, 2024 after July 1, 2013 ; (3) in subparagraph (B), by inserting and before July 1, 2024 after July 1, 2013 ; (4) in subparagraph (C), by inserting and before July 1, 2024 after July 1, 2013 ; (5) in subparagraph (D), by inserting and before July 1, 2024 after July 1, 2013 ; (6) by redesignating subparagraph (F) as subparagraph (G)