; and (2) provide the borrower, in writing, in simple and understandable terms, information about obtaining such discharge. (s) Model disclosure form for alternative repayment options, forbearance, and deferment options Not later than 2 years after the date of enactment of this section, the Director of the Bureau shall, based on consumer testing and in consultation with the Secretary of Education, develop and issue, pursuant to a formal rulemaking, model forms to allow borrowers to compare alternative repayment options, forbearance, and deferment options with the borrower’s existing repayment plan with respect to a postsecondary education loan. In developing such forms, the Director shall consider and evaluate the following for inclusion: (1) The total amount to be paid over the life of the loan. (2) The total amount in interest to be paid over the life of the loan. (3) The monthly payment amount. (4) The expected pay-off date. (5) Other related fees and costs, as applicable. (6) Eligibility requirements, and how the borrower can apply for an alternative repayment option, forbearance, or deferment option. (7) Any relevant consequences due to action or inaction, such as default, including any actions that would result in the loss of eligibility for alternative repayment options, forbearance, or deferment options. (t) Student loan servicing interagency working group (1) In general Not later than 30 days after the date of enactment of this section, the Director of the Bureau shall establish a student loan servicing interagency working group co-chaired by the Director and the Secretary of Education and including the Chief Operating Officer of the Office of Federal Student Aid of the Department of Education, the Director of the Office of Management and Budget, the Secretary of the Treasury, and the heads of any other relevant Federal departments or agencies. (2) Advisory report on rulemaking (A) In general Not later than 120 days after the date the working group under paragraph (1) is established, the working group