; (II) to the best of the institution's knowledge, private loan debt already incurred; and (III) the estimated future debt required to complete the program of study. ; and (B) by adding at the end the following: (L) A statement that the borrower should borrow the minimum amount necessary to cover expenses and that the borrower does not have to accept the full amount of loans for which the borrower is eligible. (M) A warning that the higher the borrower’s debt-to-income ratio is, the more difficulty the borrower is likely to experience in repaying the loan. (N) Options for reducing borrowing through scholarships, reduced expenses, work-study, or other work opportunities. (O) An explanation of the importance of graduating on time to avoid additional borrowing, what course load is necessary to graduate on time, and information on how adding an additional year of study impacts total indebtedness. ; and (4) by adding at the end the following: (3) (A) In addition to the other requirements of this subsection and in accordance with subparagraph (B), each eligible institution shall ensure that the student manually enter, either in writing or through electronic means, the exact dollar amount of Federal Direct Loan funding under part D that such student desires to borrow. (B) The eligible institution shall ensure that the student carries out the activity described in subparagraph (A)— (i) in the course of the process used by the institution for students to accept a student loan award; (ii) prior to the institution certifying a Federal Direct Loan under part D for disbursement to a student (other than a Federal Direct Consolidation Loan or a Federal Direct PLUS loan made on behalf of a student)