; and (ii) begin— (I) on the day the loan is disbursed; or (II) if the loan is disbursed in multiple installments, on the day of the last such disbursement. (C) Active duty exclusion There shall be excluded from the 6-month period that begins on the date on which a student ceases to carry at least one-half the normal full-time academic workload as described in subparagraph (A) any period not to exceed 3 years during which a borrower who is a member of a reserve component of the Armed Forces named in section 10101 of title 10, United States Code, is called or ordered to active duty for a period of more than 30 days (as defined in section 101(d)(2) of such title). Such period of exclusion shall include the period necessary to resume enrollment at the borrower’s next available regular enrollment period. (2) Payment of Principal and Interest (A) Commencement of repayment Repayment of principal on loans made under this part shall begin at the beginning of the repayment period described in paragraph (1). (B) Capitalization of interest (i) In general Interest on loans made under this part for which payments of principal are not required during the 6-month period described in paragraph (1)(A)(i)(II) or for which payments are deferred under section 469A shall— (I) be paid monthly or quarterly; or (II) be added to the principal amount of the loan only— (aa) when the loan enters repayment; (bb) at the expiration of a the 6-month period described in paragraph (1)(A)(i)(II); (cc) at the expiration of a period of deferment, unless otherwise exempted; or (dd) when the borrower defaults. (ii) Maximum aggregate limit Interest capitalized shall not be deemed to exceed the amount equal to the maximum aggregate limit of the loan under section 465(b). (C) Notice Not less than 60 days, and again not less than 30 days, prior to the anticipated commencement of the repayment period for a Federal ONE Loan, the Secretary shall provide notice to the borrower— (i) that interest will accrue before repayment begins