; and (II) the timing for recalculation of the ISA recipient’s payments under the schedule of fixed amounts. (B) Fees and default or late payment costs (i) An itemization of the fees or range of fees required to obtain the educational ISA. (ii) Any fees or other penalties based on the ISA recipient’s defaults or late payments. (C) Payment terms (i) The ISA duration, or range of ISA durations, offered by the ISA provider. (ii) A description of any payment deferral options. (D) Cost Estimates The following disclosure shall be made using the ISA payment calculation method, ISA duration, and ISA maximum number of payments for which the ISA recipient has been approved: (i) The loan comparison based on these assumptions. (ii) A description of the payment deferral option chosen by the ISA recipient, if applicable, and any other payment deferral options that the ISA recipient may elect at a later time. (iii) Any payments required while the ISA recipient is enrolled at a covered educational institution, based on the deferral option chosen by the ISA recipient. (E) Alternatives to private education income share agreements, if applicable to the student In the case of an educational ISA that may be used for education expenses at an institution of higher education that participates in the student financial assistance programs under title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070 et seq. ), the following: (i) A statement that the ISA recipient may qualify for Federal student financial assistance through a program under title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070 et seq. ). (ii) The interest rates for each program of financial assistance available under title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1070 et seq. ) and information regarding whether the rates for the loans available under such title are fixed or variable. (iii) A statement that the ISA recipient may obtain additional information concerning Federal student financial assistance from the institution of higher education that