; and (iii) an estimate of the projected monthly payment amount under the fixed and income-based repayment plans, based on— (I) the anticipated outstanding balance on the loan for which the borrower is receiving counseling under this subsection; and (II) a projection for any other Federal Direct PLUS Loan made on behalf of the dependent student that the borrower is reasonably expected to accept during the program of study of such student based on at least the average cumulative indebtedness of other borrowers of Federal Direct PLUS Loans made on behalf of dependent students who are in the same program of study as the student on whose behalf the borrower borrowed the loan and the expected increase in the cost of attendance of such program. (5) Annual loan acceptance Prior to making the first disbursement of a loan made under part D (other than a Federal Direct Consolidation Loan or a loan made under section 460A and 460B) to a borrower for an award year, an eligible institution, shall, as part of carrying out the counseling requirements of this subsection for the loan, ensure that after receiving the applicable counseling under paragraphs (2), (3), and (4) for the loan the borrower accepts the loan for such award year by— (A) signing and returning to the institution the student loan contract for the loan referred to in section 432(m)(1)(D) that affirmatively states that the borrower accepts the loan; or (B) electronically signing an electronic version of the student loan contract described in subparagraph (A). . (d) Online counseling tools Section 485 of the Higher Education Act of 1965 ( 20 U.S.C. 1092 ) is further amended by adding at the end the following: (n) Online counseling tools (1) In general Beginning not later than 1 year after the date of enactment of the Aim Higher Act, the Secretary shall maintain— (A) an online counseling tool that provides the exit counseling required under subsection (b) and meets the applicable requirements of this subsection