; (vii) in paragraph (9), as redesignated by clause (v), by adding at the end the following: (D) Model disclosure form for alternative repayment options, forbearance, and deferment options Not later than 2 years after the date of enactment of the Student Loan Borrower Bill of Rights , the Director shall, based on consumer testing and through regulations promulgated in accordance with paragraph (17)(A), develop and issue 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: (i) The total amount to be paid over the life of the loan. (ii) The total amount in interest to be paid over the life of the loan. (iii) The monthly payment amount. (iv) The expected pay-off date. (v) Other related fees and costs, as applicable. (vi) Eligibility requirements, and how the borrower can apply for an alternative repayment option, forbearance, or deferment option. (vii) 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, deferment, or discharge options. ; (viii) in paragraph (12), as redesignated by clause (v), by striking paragraph (7) and inserting paragraph (11) ; (ix) by striking paragraph (14), as redesignated by clause (v), and inserting the following: (14) Definitions In this subsection— (A) the terms covered educational institution , private educational lender , and private education loan have the same meanings as in section 140; (B) the term postsecondary education loan means— (i) a private education loan; (ii) a loan made, insured, or guaranteed under part B, D, or E of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1071 et seq. , 1087a et seq., and 1087aa et seq.)