; (2) by redesignating paragraphs (3) and (4) as paragraphs (5) and (6), respectively; (3) by inserting after paragraph (2) the following: (3) Special rules relating to employment (A) Grace period public service employment The Secretary shall include any payments made by a borrower on an eligible Federal Direct Loan during a 6-month grace period, as described in section 428(b)(7)(A), while the borrower was employed full-time in public service, upon notification by the borrower of such employment and payments made. (B) AmeriCorps and Peace Corps service For purposes of this subsection, volunteer service as an AmeriCorps or Peace Corps volunteer, as described in subclause (III) or (IV) of paragraph (6)(C)(i), shall be deemed to be employment. (4) Special rule for certain loans and borrowers (A) Parent Plus loans In the case of a borrower of an eligible Federal Direct Loan that is on behalf of a student, any public service employment required under this subsection may be completed by the borrower or by the student on whose behalf the loan was made. (B) Special rules for Federal Direct Consolidation loans (i) In general A borrower who has obtained an eligible Federal Direct Loan that is a Federal Direct Consolidation Loan that includes a loan made, insured, or guaranteed under part B or part E shall receive credit— (I) under paragraph (1) for any years of full-time employment in public service that occurred while the borrower had a component loan of the Federal Direct Consolidation Loan; and (II) under paragraph (1)(C) for any monthly payment described in such paragraph that was made by, or credited to, the borrower on a component loan of the Federal Direct Consolidation Loan. (ii) Special rules for joint borrowers The Secretary shall allow the borrowers of a Joint Consolidation Loan or a Joint Direct Consolidation Loan who are employed in a public service job to consolidate such loan into a Federal Direct Consolidation Loan in order to receive loan cancellation pursuant to this subsection.