; or (2) a check copayable to the eligible institution and the parent borrower. (d) Payment of Principal and Interest (1) Commencement of repayment Repayment of principal on loans made under this section shall commence not later than 60 days after the date such loan is disbursed by the Secretary, subject to deferral— (A) during any period during which the parent borrower meets the conditions required for a deferral under section 469A; and (B) upon the request of the parent borrower, during the 6-month period beginning, if the parent borrower is also a student, the day after the date such parent borrower ceases to carry at least one-half such a workload. (2) Maximum repayment period The maximum repayment period for a loan made under this section shall be a 10-year period beginning on the commencement of such period described in paragraph (1). (3) Capitalization of interest Interest on loans made under this section for which payments of principal are deferred pursuant to paragraph (1) shall, if agreed upon by the borrower and the Secretary— (A) be paid monthly or quarterly; or (B) be added to the principal amount of the loan not more frequently than quarterly by the Secretary. (4) Applicable rates of interest Interest on loans made pursuant to this section shall be at the applicable rate of interest provided in section 465(c)(3) for loans made under this section. (5) Amortization Section 466(b)(2) shall apply to each loan made under this section. (e) Verification of Immigration Status and Social Security Number A parent who wishes to borrow funds under this section shall be subject to verification of the parent's— (1) immigration status in the same manner as immigration status is verified for students under section 484(g)