(2) The director shall notify each borrower making payments on a loan identified under subsection (1) of this section that, at the current rate of payment, the loan principal will not be fully paid by the final payment date. The notice shall also include:
(a) The current principal balance.
(b) The current monthly principal and interest payment.
(c) The estimated monthly principal and interest payment necessary to reduce the principal balance to zero by the agreed to date.
(d) The estimated time remaining until the obligation is fully paid at the current payment level and the difference between that time and the agreed to date.
(3) The notice required under this section shall be made a part of the annual statement to borrowers for the calendar year 1989 and thereafter. [1987 c.652 §22]