1. Short title This Act may be cited as the Student Loan Disclosure Transparency Act of 2023 . 2. Required disclosures before disbursement Section 433(a) of the Higher Education Act of 1965 ( 20 U.S.C. 1083(a) ) is amended— (1) by striking and at the end of paragraph (18); (2) by striking the period and inserting ; and at the end of paragraph (19); and (3) by adding at the end the following new paragraph: (20) a separate written or electronic statement, in simple and understandable terms, showing— (A) for the loan or loans being disbursed— (i) the principal amount of the loan, the stated interest rate on the loan, the number of required monthly payments to be made on the loan (which shall be based on a standard repayment plan or, in the case of a borrower who has selected another repayment plan, on the repayment plan selected by the borrower), and the estimated number of months before the start of the repayment period for the loan (based on the expected date on which the repayment period is to begin or the deferment period under 428B(d)(1) is to end, as applicable); (ii) the estimated balance to be owed by the borrower on such loan (including, if applicable, the estimated amount of interest to be capitalized) as of the scheduled date on which the repayment period is to begin or the deferment period under 428B(d)(1) is to end, as applicable, and an estimate of the projected monthly payment; and (iii) an estimate of the aggregate amount the borrower will pay for the loan or loans, including the total amount of monthly payments made over the life of the loan plus the amount of any charges for the loan, such as an origination fee; (B) for each other loan owed by the borrower to the lender, the information described in clauses (i) through (iii) of subparagraph (A)