information regarding the financial aid offered, including contact information for the institution’s financial aid office and the Department of Education’s website on financial aid. (7) A disclosure that Federal student loans offer generally more favorable terms and beneficial repayment options than private education loans so students should examine available Federal student loan options before applying for private education loans, and an explanation to be written by the Secretary of Education, in consultation with the heads of relevant Federal agencies, of the benefits unique to Federal student loans, including various repayment plans, loan forgiveness, and loan deferment, and the terms to examine carefully if considering a private education loan. (8) The deadline and summary of the process, if any, for accepting the financial aid offered in the financial aid offer form. (9) The academic period covered by the financial aid offer form and a clear indication whether the aid offered is based on full-time or part-time enrollment. (10) With respect to institutions where more than 30 percent of enrolled students borrow loans to pay for their education, the institution’s most recent cohort default rate, as defined in section 435(m) of the Higher Education Act of 1965 ( 20 U.S.C. 1085(m) ), compared to the national average cohort default rate. (11) The percentage of students at the institution who take out student loans and median debt at graduation for students at the institution. (12) Any other information the Secretary of Education, in consultation with the heads of relevant Federal agencies, determines necessary so that students and parents can make informed loan borrowing decisions.