; and (B) in paragraph (3), by adding at the end the following: (F) A statement that— (i) the borrower may be entitled to servicemember and veteran benefits under the Servicemembers Civil Relief Act ( 50 U.S.C. 3901 et seq. ) and other Federal or State laws; and (ii) a Servicemember and Veterans Liaison designated under section 128(e)(16)(K)(i) of the Truth in Lending Act ( 15 U.S.C. 1638(e)(16)(K)(i) ) is available to answer inquiries about servicemember and veteran benefits, including the toll-free telephone number and email address to contact the Liaison pursuant to such section. (G) A statement that a repayment specialist office or unit designated under section 128(e)(16)(J)(i) of the Truth in Lending Act ( 15 U.S.C. 1638(e)(16)(J)(i) ) is available to answer inquiries related to alternative repayment options, including the toll-free telephone number and email address to contact the specialist pursuant to section 128(e)(16)(J)(iii) of such Act. . (b) Terms and conditions of loans Section 455 of the Higher Education Act of 1965 ( 20 U.S.C. 1087e ) is amended by adding at the end the following: (r) Prepayment, payment application, and payment allocation (1) In general A borrower may prepay all or part of a loan made under this part at any time without penalty. (2) Prepayment (A) In general If a borrower pays any amount in excess of the amount due for a loan made under this part, the excess amount shall be a prepayment. (B) Application of prepayment If a borrower makes a prepayment, the Secretary shall— (i) apply the prepaid amount according to the terms of the promissory note signed by the borrower; (ii) upon request of the borrower, apply the prepaid amount to the outstanding loan principal