; (iv) the stated interest rate on the loan; (v) the yearly and cumulative maximum amounts that may be borrowed; (vi) an explanation of when repayment of the loan will be required and when the student borrower will be obligated to pay interest that accrues on the loan; (vii) a statement as to the minimum and maximum repayment term that the Secretary may impose, and the minimum monthly payment required by law and a description of any penalty imposed as a consequence of default, such as liability for expenses reasonably incurred in attempts by the Secretary to collect on a loan; (viii) a statement of the total cumulative balance, including the loan applied for, owed by the student borrower to the Secretary, and an estimate of the projected monthly payment, given such cumulative balance; (ix) an explanation of any special options the student borrower may have for loan consolidation or other refinancing of the loan; (x) a statement that the student borrower has the right to prepay all or part of the loan, at any time, without penalty; (xi) a statement summarizing circumstances in which repayment of the loan or interest that accrues on the loan may be deferred, and a brief notice of the program for repayment of loans, on the basis of military service, pursuant to the Department of Defense educational loan repayment program ( 10 U.S.C. 16302 ); (xii) a definition of default and the consequences to the student borrower if the student borrower defaults, together with a statement that the disbursement of, and the default on, a loan under this part shall be reported to a credit bureau or credit reporting agency; (xiii) to the extent practicable, the effect of accepting the loan on the eligibility of the student borrower for other forms of student assistance