• (v) Include debt management strategies that are designed to facilitate repayment;

• (vi) Explain to the student borrower how to contact

  the party servicing the student borrower’s Direct

  Loans;

• (vii) Meet the requirements described in 34 CFR 685.304 (a)(6)(i), (a)(6)(ii), and (a)(6)(iv);

• (viii) Describe the likely consequences of default,

  including adverse credit reports, delinquent debt

  collection procedures under federal law, and

  litigation;

• (ix) Provide—

  (A) A general description of the terms and condi-tions under which a borrower may obtain full or partial forgiveness or discharge of principal and interest, defer repayment of principal or interest, or be granted forbearance on a Title IV loan; and

  (B) A copy, either in print or by electronic means, of the information the Secretary makes available pursuant to section 485(d) of the HEA;*

• (x) Review for the student borrower information on

  the availability of the Department’s Student Loan

  Ombudsman’s office;

• (xi) Inform the student borrower of the availability of

  Title IV loan information in the National Student Loan Data System (NSLDS) and how NSLDS can be used to obtain Title IV loan status information;

• (xii) Explain to first-time borrowers—

  (A) How the borrower’s maximum eligibility pe-

  riod, remaining eligibility period, and subsidized

  usage period are determined;

  (B) The sum of the borrower’s subsidized usage

  periods at the time of the exit counseling;

  (C) The consequences of continued borrowing

  or enrollment, including: (1) The possible loss of

  eligibility for additional Direct Subsidized Loans;

  and (2) The possibility that the borrower could

  become responsible for accruing interest on

  previously received Direct Subsidized Loans and

  the portion of a Direct Consolidation Loan that

  repaid a Direct Subsidized Loan during in-school

  status, the grace period, authorized periods

  of deferment, and certain periods under the

  Income-Based Repayment and Pay As You Earn

  Repayment plans;

  (D) The impact of the borrower becoming respon-

  sible for accruing interest on total student debt;

  (E) That the Secretary will inform the student

  borrower of whether he or she is responsible for

  accruing interest on his or her Direct Subsidized

  Loans; and

  (F) That the borrower can access NSLDS to

  determine whether he or she is responsible for

  accruing interest on any Direct Subsidized Loans;

• (xiii) A general description of the types of tax benefits that may be available to borrowers; and

• (xiv) Require the student borrower to provide current information concerning name, address, Social Security number, references, and driver’s license number and state of issuance, as well as the student borrower’s expected permanent address, the address of the student borrower’s next of kin, and the name and address of the student borrower’s expected employer (if known).

*Section 485 requires the Secretary (i.e., the Department) to provide “descriptions of federal student assistance programs, including the rights and responsibilities of student and institutional par-ticipants,” including “information to enable students and prospective students to assess the debt burden and monthly and total repayment obligations” for their loans.

Section 485(d) also refers to information:

– to enable borrowers to assess the practical conse-quences of loan consolidation, including differences in deferment eligibility, interest rates, monthly payments, finance charges, and samples of loan consolidation profiles.

– concerning the specific terms and conditions under which students may obtain partial or total cancella-tion or defer repayment of loans for service.

– on the maximum level of compensation and allow-ances that a student borrower may receive from a tax-exempt organization to qualify for a deferment and shall explicitly state that students may qualify for such partial cancellations or deferments when they serve as a paid employee of a tax-exempt organization.

– on state and other prepaid tuition programs and savings programs; and disseminates such infor-mation to states, eligible institutions, students, and parents in departmental publications.