; and (ii) disclose to the borrower and any co-signer at the time the private education loan is consummated, clearly and conspicuously, the criteria under which a co-signer may be released from the obligation of the co-signer under a private education loan. (C) Modifications to criteria If a private education loan has a co-signer, the private educational lender with respect to, or servicer of, the private education loan, as applicable, may not modify the criteria under which the co-signer may be released from the obligation of the co-signer under the private education loan without the consent of the borrower and the co-signer if the modification would be adverse to the borrower. (D) Notification on release A private educational lender with respect to, or servicer of, a private education loan, as applicable, shall promptly notify the borrower and any co-signers for the private education loan if a co-signer is released from the obligations of the co-signer under the private education loan under this paragraph. (E) Modification of evaluation of creditworthiness, credit standing, or credit capacity In determining whether the criteria for a co-signer release are met, a private educational lender with respect to, or servicer of, a private education loan, as applicable, may not evaluate the creditworthiness, credit standing, or credit capacity of the borrower or a co-signer of the private education loan using a standard that would be more adverse to the borrower or co-signer, as applicable, than the standard the private educational lender used to evaluate the creditworthiness, credit standing, or credit capacity of the borrower or co-signer on the date on which the private education loan was consummated. (4) Designation of individual to act on behalf of the borrower In the case of any private educational lender that extends a private education loan, the lender shall provide the borrower an option to designate an individual to have the legal authority to act on behalf of the borrower with respect to the private education