; minus (ii) the amount of grant aid described in paragraph (2) that is included in the financial aid offer form. (B) A disclosure that the net price is an estimate of the total expenses for the year and not equivalent to the amount the student will owe directly to the institution. (4) Work-study Information on work-study employment opportunities, offered in accordance with part C of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1087–51 et seq.) including a disclosure that the work-study aid offered is subject to the availability of qualified employment opportunities and is disbursed over time as earned by the student. Work-study employment opportunities (or a student's potential income based on those opportunities) shall not be included in the category of financial aid described under paragraph (2). (5) Loans (A) Information on any loan under part D or part E of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1087a et seq.; 20 U.S.C. 1087aa et seq.) (except a Federal Direct PLUS Loan under part D of that Act) that the institution recommends for the student for the academic period covered by the offer, which shall be made— (i) with clear use of the word loan to describe the recommended loan amounts