Sec. 3. Disclosure of projected monthly payment amounts
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Section 433 of the Higher Education Act of 1965 ( 20 U.S.C. 1083 ) is further amended— in subsection (b), by amending paragraph
(9)to read as follows: information of interest charges, accrual, and payments, including— the projected total of interest charges which the borrower will pay on the loan or loans, assuming that the borrower makes payments exactly in accordance with the repayment schedule; projections of the borrower’s monthly repayment amount, assuming interest accrual resulting from capitalization of interest while the borrower, or the student on whose behalf the loan is made, is in school (as applicable), which shall disclose the cost to the borrower of— capitalizing the interest; and paying the interest as the interest accrues; and if the borrower has already paid interest on the loan or loans, the amount of interest paid; ; and by striking subsection (d), and redesignating subsections
(e)and
(f)as subsections
(d)and (e), respectively.
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Sec. 3
Disclosure of projected monthly payment amounts
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