; (iii) be used only for the academic year for which the initial loans are made under the contract and shall be valid for additional loans within an academic year; and (iv) include options for the student to enter both the student's current contact information and permanent contact information that is likely to remain valid upon the student's exit from the institution. (C) Covered loan (i) In general In this subsection, the term covered loan means a loan made under this part on or after the effective date of the Affordable Loans for Any Student Act , except with respect to a borrower described in clause (ii). (ii) Exception A borrower is described in this clause if the loan made under this part on or after the effective date of the Affordable Loans for Any Student Act with respect to such borrower is for the 2020–2021 academic year and the borrower has already taken out a loan under this part (other than a Federal Direct Consolidation Loan) for such academic year (including any such loan for attendance at another institution from which the student transferred or in which the student had previously enrolled). (2) Loan disclosures For loans made under this part for periods of enrollment beginning on or after the effective date of the Affordable Loans for Any Student Act , the Secretary shall take such steps as are necessary to streamline the student loan disclosure requirements under this Act. The Secretary shall ensure that information required to be disclosed to a student who is applying for, receiving, or preparing to repay a loan under this part shall be consumer-tested and delivered in a manner that— (A) reduces and simplifies the paperwork students are required to complete; (B) limits the number of times a student is presented with disclosures by incorporating the streamlined disclosures into required student loan counseling under section 485(l), the student loan contract under this subsection, or both