; (xii) an explanation— (I) that the borrower has the option to pay the interest that accrues on each loan while the borrower is a student at an institution of higher education or during a period of deferment or forbearance, if applicable; and (II) if the borrower does not pay such interest while attending an institution or during a period of deferment or forbearance, any accumulated interest on the loan will be capitalized when the loan goes into repayment, resulting in more interest being paid over the life of the loan; (xiii) an explanation that making even small payments of any amount while the borrower is a student at an institution of higher education, or during a period of deferment or forbearance, if applicable, can help to offset interest accrual over the life of the loan; (xiv) the lender’s or loan servicer’s address, toll-free phone number, and website for payment and billing error purposes, including information about how a borrower can make voluntary payments when a loan is not in repayment status; and (xv) an explanation to borrowers that loans made under this part of part D have significant protections for borrowers that aren’t offered by the private market, including a number of income-driven repayment options, which offer flexible repayments terms and loan forgiveness for struggling borrowers. . 5. Report to Congress on consumer testing Not later than 24 months after the date of enactment of this Act, the Secretary shall— (1) conduct consumer testing by obtaining feedback from individuals, including borrowers and prospective borrowers of loans under the Higher Education Act of 1965, on the usefulness and effectiveness of disclosing monthly terms of loans under section 433 of the Higher Education Act of 1965, as amended by this Act, to maximize borrowers’ understanding of the terms and conditions of such loans