112 STAT. 1704 PUBLIC LAW 105-244—OCT. 7, 1998 (1) in paragraph (1), by striking "1993" and inserting "1999"; and (2) in paragraph (3), by striking "sind Labor" and inserting "and the Workforce". 20 USC 1082. (e) REPORTING REQUIREMENT.— Section 432(p) is amended by striking "State postsecondary reviewing entities designated under subpart 1 of part H,". SEC. 428. STUDENT LOAN INFORMATION BY ELIGIBLE LENDERS. (a) REQUIRED DISCLOSURE BEFORE DISBURSEMENT.— Section 433(a) (20 U.S.C. 1083(a)) is amended by amending the matter preceding paragraph (1) to read as follows: "(a) REQUIRED DISCLOSURE BEFORE DISBURSEMENT.— Each eligible lender, at or prior to the time such lender disburses a loan that is insured or guaranteed under this part (other than a loan made under section 428C), shall provide thorough and accurate loan information on such loan to the borrower in simple and understandable terms. Any disclosure required by this subsection may be made by an eligible lender by written or electronic means, including as part of the application material provided to the borrower, as part of the promissory note evidencing the loan, or on a separate written form provided to the borrower. Each lender shall provide to each borrower a telephone number, and may provide an electronic address, through which additioned loan information can be obtained. The disclosure shall include—". (b) REQUIRED DISCLOSURE BEFORE REPAYMENT. —Section 433(b) is amended by amending the matter preceding paragraph (1) to read as follows: "(b) REQUIRED DISCLOSURE BEFORE REPAYMENT. —Each eligible lender shall, at or prior to the start of the repayment period of the student borrower on loans made, insured, or guaranteed under this part, disclose to the borrower by written or electronic means the information required under this subsection in simple and understandable terms. Each eligible lender shall provide to each borrower a telephone number, and may provide an electronic address, through which additiongd loan information can be obtained. For any loan made, insured, or guaranteed under this part, other than a loan made under section 428B or 428C, such disclosure required by this subsection shall be made not less than 30 days nor more than 240 days before the first payment on the loan is due from the borrower. The disclosure shall include—". SEC. 429. DEFINrnONS. (a) COHORT DEFAULT RATE.— Section 435(a) (20 U.S.C. 1085(a)) is amended— (1) in paragraph (2)— (A) in subparagraph (A)— (i) by striking "or" at the end of clause (i); (ii) by striking clause (ii) and inserting the following: "(ii) there are exceptional mitigating circumstances within the meaning of paragraph (4); or "(iii) there are, in the judgment of the Secretary, other exceptional mitigating circumstances that would make the application of this paragraph inequitable."; and (iii) by adding after the matter following clause (iii) (as added by clause (ii)) the following:
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