; (B) signing and returning to the institution a separate written statement that affirmatively states that the borrower accepts the loan; or (C) electronically signing an electronic version of the statement described in subparagraph (B). . (i) Online counseling tools Section 485 ( 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 PROSPER 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; and (B) an online counseling tool that provides the annual counseling required under subsection (l) and meets the applicable requirements of this subsection. (2) Requirements of tools In maintaining the online counseling tools described in paragraph (1), the Secretary shall ensure that each such tool is— (A) consumer tested to ensure that the tool is effective in helping individuals understand their rights and obligations with respect to borrowing a loan made this title or receiving a Federal Pell Grant; (B) understandable to students receiving Federal Pell Grants and borrowers of loans made this title; and (C) freely available to all eligible institutions. (3) Record of counseling completion The Secretary shall— (A) use each online counseling tool described in paragraph (1) to keep a record of which individuals have received counseling using the tool, and notify the applicable institutions of the individual’s completion of such counseling; (B) in the case of a borrower who receives annual counseling for a loan made under this title using the tool described in paragraph (1)(B), notify the borrower by when the borrower should accept, in a manner described in subsection (l)(6), the loan for which the borrower has received such counseling