The rules as they stood on July 1, 2020 are restored
What the document says“any regulations relating to borrower defense to repayment that took effect on July 1, 2020, are restored and revived as such regulations were in effect on such date.”
The section restores and revives, from enactment and for loans first originating before July 1, 2035, any borrower defense to repayment regulations that took effect on July 1, 2020, as they stood on that date.
What the document actually says“any regulations relating to borrower defense to repayment that took effect on July 1, 2020, are restored and revived as such regulations were in effect on such date.”
The rules that took effect on July 1, 2020 come back. They come back as they stood that day.
Those rules govern claims against a school. They are not indexed here. Only the switch is recorded.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.