Sec. 427. Additional disclosures
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Section 433(a) ( 20 U.S.C. 1083(a) ) is amended— in the matter preceding paragraph (1), by striking the second sentence and inserting Any disclosure required by this subsection shall be made on the Plain Language Disclosure Form developed by the Secretary under section 455(p). ; in paragraph (4), by striking the origination fee and and inserting finance charges, the origination fee, and ; by redesignating paragraphs
(6)through
(19)as paragraphs
(7)through (20), respectively; and by inserting after paragraph (5), the following: the annual percentage rate of the loan, as calculated using the standard 10-year repayment term, and how interest accrues and is capitalized during periods when the interest is not paid by the borrower; .
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Sec. 427
Additional disclosures
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