the case of any private educational lender that extends a private education loan, the lender shall provide the borrower an option to designate an individual to have the legal authority to act on behalf of the borrower with respect to the private education loan in the event of the death, disability, or inability to engage in any substantial gainful activity of the borrower. (5) Counseling In the case of any private educational lender that extends a private education loan, the lender shall ensure that the borrower, and any co-signer, receives comprehensive information on the terms and conditions of the loan and of the responsibilities the borrower has with respect to the loan, including the information required under subparagraphs (H), (I), (K), (L), (M), and (N) of section 485(l)(2) of the Higher Education Act of 1965 ( 20 U.S.C. 1092(l)(2) ). (6) Model form The Bureau shall publish a model form under section 105 for describing the obligation of a co-signer for the purposes of paragraph (1). (7) Definition of death, disability, or inability to engage in any substantial gainful activity For the purposes of this subsection with respect to a borrower or co-signer, the term death, disability, or inability to engage in any substantial gainful activity — (A) means any condition described in section 437(a) of the Higher Education Act of 1965 ( 20 U.S.C. 1087(a) )