; and (ii) by substituting 9.5 percent for 10.5 percent . . 8212. Elimination of origination fee for Parent PLUS loans Section 455(c) of the Higher Education Act of 1965 ( 20 U.S.C. 1087e(c) ) is amended by adding at the end the following new paragraph: (3) PLUS loans With respect to Federal Direct PLUS loans made on behalf of a dependent student for which the first disbursement of principal is made on or after July 1, 2019, paragraph (1) shall be applied by substituting 0.0 percent for 4.0 percent . . 8213. Counseling for Parent PLUS borrowers Section 485 of the Higher Education Act of 1965 ( 20 U.S.C. 1092 ) is amended by adding at the end the following: (n) Counseling for parent PLUS borrowers (1) In general The Secretary, prior to disbursement of a Federal Direct PLUS loan made on behalf of a dependent student, shall ensure that the borrower receives comprehensive information on the terms and conditions of the loan and the responsibilities the borrower has with respect to such loan. Such information— (A) shall be provided through the use of interactive programs that use mechanisms to check the borrower’s understanding of the terms and conditions of the borrower’s loan, using simple and understandable language and clear formatting; and (B) shall be provided— (i) during a counseling session conducted in person; or (ii) online. (2) Information to be provided The information to be provided to the borrower under paragraph (1) shall include the following: (A) Information on how interest accrues and is capitalized during periods when the interest is not paid by the borrower. (B) An explanation of when loan repayment begins, of the options available for a borrower who may need a deferment, and that interest accrues during a deferment. (C) The repayment plans that are available to the borrower, including personalized information showing— (i) estimates of the borrower’s anticipated monthly payments under each repayment plan that is available