; and (II) the difference between— (aa) such cost of attendance; and (bb) the student's estimated financial assistance, including such assistance received under title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070 et seq.) and other financial assistance known to the institution, as applicable. (B) Timing Pursuant to section 485(a)(28)(A) of the Higher Education Act of 1965 ( 20 U.S.C. 1094(a)(28)(A) ), a private education lender shall receive the certification described in subparagraph (A) within 15 days of a request by the private education lender, unless the institution of higher education notifies the private educational lender pursuant to section 485(a)(28)(A)(ii) of such Act that additional time is needed. (C) Additional requirements Upon receiving the certification described in subparagraph (A) for a private education loan, the private educational lender— (i) may proceed to issue funds with respect to the private education loan; and (ii) after issuing the private education loan, shall— (I) notify the institution of higher education involved that the private education loan has been issued to the borrower, and the amount of such loan; and (II) provide the Director of the Consumer Financial Protection Bureau and the Secretary of Education with the information described in paragraph (9)(B). ; (B) by redesignating paragraphs (9), (10), and (11) as paragraphs (10), (11), and (12), respectively; and (C) by inserting after paragraph (8) the following: (9) Provision of information (A) Provision of information to borrowers (i) Loan statements A private educational lender that issues any funds with respect to a private education loan shall— (I) send loan statements, if the loan is to be used for a student, to borrowers of the funds not less than once every 3 months during the time that the student is enrolled at an institution of higher education