; (2) the borrower's current balance, as of the time of the statement, as applicable; (3) the interest rate on each loan; (4) the total amount the borrower has paid in interest on each loan; (5) the aggregate amount the borrower has paid for each loan, including the amount the borrower has paid in interest, the amount the borrower has paid in fees, and the amount the borrower has paid against the balance; (6) the lender's or loan servicer's address, toll-free phone number, and webpage for payment and billing error purposes, including information about how a borrower can make voluntary payments when a loan is not in repayment status; (7) an explanation— (A) that the borrower has the option to pay the interest that accrues on each loan while the borrower is a student at an institution of higher education or during a period of deferment or forbearance, if applicable; and (B) if the borrower does not pay such interest while attending an institution or during a period of deferment or forbearance, any accumulated interest on the loan will be capitalized when the loan goes into repayment, resulting in more interest being paid over the life of the loan; (8) the amount of interest that has accumulated since the last statement based on the typical installment time period and the aggregate interest accrued to date; and (9) an explanation that making even small payments of any unspecified amount while the borrower is a student at an institution of higher education, or during a period of deferment or forbearance, if applicable, can help to offset interest accrual over the life of the loan. . 4. Conforming Amendments (a) Program participation agreements Section 487(e)(2)(B)(ii)(IV) of the Higher Education Act of 1965 ( 20 U.S.C. 1094(e)(2)(B)(ii)(IV) ) is amended— (1) by striking Entrance and exit counseling and inserting Pre-loan and exit counseling