Private Loan Application Sample Disclosures - Frostburg State ...

Student Loan Application 

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Application and Solicitation Disclosure 

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Private Education Loan Application and Solicitation Disclosure 

SunTrust Bank 

One Cabot Road, 2nd Floor 

Medford, MA 02155-5141 

866-232-3889 

Loan Interest Rate & Fees 

Your 

starting 

interest 

rate will be 

between 

2.850% 

and 

9.990% 

After the 

starting rate 

is set, your 

rate will 

then vary 

with the 

market 

Your Starting Interest Rate (upon approval) 

The starting interest rate you pay will be determined after 

you apply. It will be based on your credit history and other 

factors (presence of cosigner, cosigner credit history, if 

applicable, repayment option, repayment loan term, loan 

amount). If approved, we will notify you of the rate you 

qualify for within the stated range. 

Your Interest Rate during the life of the loan 

Your rate is variable. This means that your rate could move 

lower or higher than the rates on this form. The variable rate 

is based upon the One-Month LIBOR Rate (as published in 

The Wall Street Journal). ). For more information on this 

rate, see the Reference Notes. 

The rate will vary after you are approved and there is no 

limit on the amount the interest rate can increase. 

Loan Fees 

Late Charge: 5% of the monthly payment if not made on or before the 

10th day after its due date. 

Loan Cost Examples 

The total amount you will pay for this loan will vary depending upon 

when you start to repay it. This example provides estimates based upon 

four repayment options that may be available to you while enrolled in 

school. 

Repayment 

file:///C|/Users/KIZAT/Desktop/Student%20Loan%20Application.htm[4/16/2012 1:21:54 PM]


Option 

(while 

enrolled in 

school) 

Amount Provided 

(amount provided 

directly to you or your 

school) 

Interest Rate Loan Term 

(highest (how long you Total 

possible have to pay off thePaid 

starting rate) loan) 

DEFER PAYMENTS 

20 Years 

Make no payments while 

starting 

1. enrolled in school. Interest will $10,000.009.990% after the $32,980.72 

be charged and added to your 

deferment 

loan. 

period 

PAY ONLY THE INTEREST 

20 Years 

Make interest payments but 

starting 

2. defer payments on the principal $10,000.008.740% after the $24,906.78 

amount while enrolled in 

deferment 

school. 

PAY PARTIAL INTEREST 

period 

Make partial interest payments 

20 Years 

of $25, but defer payments on 

starting 

3. principal and remaining interest $10,000.009.870% after the $30,943.55 

while enrolled in school. 

deferment 

Unpaid interest will be added to 

your loan. 

period 

MAKE FULL 

PAYMENTS 

4. 

Pay both the principal 

and interest amounts. 

20 Years starting 

$10,000.007.430% with the first $19,232.33 

payment 

About this example 

This repayment example assumes that you remain in school for 45 

months and have a 6 month grace period before entering repayment. It is 

based on the highest starting rate currently charged. Depending on your 

loan amount and other factors, repayment may last up to 20 years, starting 

with the initial principal and interest payment. 

Federal Loan Alternatives 

Loan Current Interest Rates by Program 

program Type 

PERKINS 

5% 

for Students 

fixed 

STAFFORD 

Undergraduate 

3.4% 

subsidized 

fixed 

for Students 

PLUS 

Graduate & 

6.8% 

Undergraduate 

fixed 

unsubsidized 

for Parents and 

Graduate/Professional 

Students 

7.9% 

Federal Direct Loan 

fixed 

You may qualify for 

Federal education loans. 

For additional 

information, 

contact your school's 

financial aid office or 

the Department of 

Education at: 

www.federalstudentaid.ed.gov 



Next Steps 

1. Find Out About Other Loan Options. 

Some schools have school-specific student loan benefits and terms 

not detailed on this form. Contact your school's financial aid office 

or visit the Department of Education's website at: 

www.federalstudentaid.ed.gov for more information about other 

loans. 

2. To Apply for this Loan, Complete the Application and the 

Applicant Self-Certification Form. 

You may obtain the Applicant Self-Certification form from your 

school's financial aid office or as part of this application process. If 

you are approved for this loan, the loan terms will be available for 

30 days (terms will not change during this period, except as 

permitted by law). 

REFERENCE NOTES 

Variable Interest Rate: 

This loan has a variable interest rate that is based on the One- 

Month London Interbank Offered Rate (LIBOR) index which is 

published in the "Money Rates" section of The Wall Street Journal 

(Eastern Edition) and will be equal to the One-Month LIBOR rate 

published on the 25th day (or if such 25th day is not a business 

day, the next business day thereafter) of the month immediately 

preceding such calendar month, rounded up to the nearest oneeighth 

of one percent (0.125%). 

This loan has a Variable Rate. The Variable Rate is determined by 

(1) your (or your cosigner's, if applicable) credit history, (2) the 

Repayment Option you choose and (3) the Repayment Term you 

choose. 

Your interest rate will be calculated each month by adding your 

margin (which can range from 2.60% to 9.74%, depending upon 

your or your cosigner's credit history) to the current One-Month 

LIBOR index. 

Your interest rate may increase or decrease monthly if the One- 

Month LIBOR index changes, which will affect your monthly 

payment. 

The interest rate will not increase more than once a month, but 

there is no limit on the amount that the rate could increase at one 

time. 

Interest rates are typically higher without a cosigner. 

Eligibility Criteria: 

If you are no longer enrolled, or will not be enrolled within the next 

month, you may be offered only the "Make Full Payments" option. 

Borrower: 

Must be enrolled at an eligible school at least half-time. 

Must be of the legal age of majority or at least 17 years of 



age with a cosigner who is the legal age of majority. Age of 

majority is determined by your state of permanent residence: 

18 years of age in most states 

19 years of age in Alabama 

19 years of age in Nebraska if you are a ward of the 

state 

21 years of age in Mississippi and Puerto Rico 

Cosigner: 

All cosigners must be the legal age of majority. Age of 





state 


Bankruptcy Limitations: 

If you (borrower or cosigner) file for bankruptcy you may still be 

required to pay back this loan. 

More information about loan eligibility and repayment deferral or 

forbearance options is available in your loan application and credit 

agreement. 

ADDITIONAL IOWA STUDENT LOAN DISCLOSURES 

A. Co-signer Requirements 

A co-signer is required for this student loan if you do not meet our 

credit requirements on your own, for example, credit history, 

income and/or employment requirements. 

B. Repayment of Loan Information 

Immediate Repayment - First payment of principal and interest 

begins 30-60 days after the final disbursement of the Loan. 

Interest Only - Interest payments begin 30-60 days after the first 

disbursement of the Loan, and Principal and interest payments 

begin the month after the Deferment End Date. The Deferment End 

Date will be the date you first graduate or cease to be enrolled at 

least half-time in the School (or another Title IV eligible school), 

but no more than 66 months after the first Disbursement Date. 

Partial Interest - Partial interest payments of $25.00 begin 30-60 

days after the first disbursement of the Loan, and principal and 

interest payments begin the month after the Deferment End Date. 

The Deferment End Date will be the date you first graduate or 

cease to be enrolled at least half-time in the School (or another 

Title IV eligible school), but no more than 66 months after the first 



Disbursement Date. 

Full Deferral - First payment of principal and interest begins 30- 

60 days after the Deferment End Date. The Deferment End Date 

will be 6 months after you graduate or cease for any other reason to 

be enrolled at least half-time in the School (or another Title IV 

eligible school), but no more than 66 months after the first 


You can prepay your loan in whole or part at any time without 

penalty. 

C. Additional Terms and Conditions 

Your loan is subject to all of the terms and conditions of your 

Credit Agreement. Please read your Credit Agreement carefully, it 

may include terms under which the interest rate on the loan may 

change. To obtain a copy of your Credit Agreement, please write to 

SunTrust Bank, P.O. Box 848108, Boston, MA 02284-8108. 

D. Consequences of Loan Default 

There are serious consequences if you default on this loan. For 

example, under normal circumstances, student loans are not 

dischargeable in bankruptcy. In order to discharge a loan in 

bankruptcy, the borrower must prove undue hardship in an 

adversary proceeding before the bankruptcy court. 

Additional consequences of default on this loan include: 

Lender may report the late payment history to credit 

reporting agencies, which will adversely affect your credit 

rating and ability to get more credit 

Interest will continue to accrue on the outstanding principal 

balance 

Lender may take legal action 

Borrower may become ineligible for further loans from the 

lender 

Full amount of the loan may become due immediately 

E. Lender Contact Information 

SunTrust Bank 

P.O. Box 848108 

Boston, MA 02284-8108 

866-232-3889 

http://www.suntrusteducation.com/customchoice 


SunTrust Bank 

One Cabot Road, 2nd Floor 

Medford, MA 02155-5141 

866-232-3889 




Your 

interest 

rate will be 

between 

3.400% 

and 

13.490% 

After the 

rate is set, it 

will be fixed 

for the 

entire term 

of the loan. 

Your Interest Rate (upon approval) 

The interest rate you pay will be determined after you apply. 

It will be based on your credit history and other factors 

(presence of a cosigner, cosigner credit history, if applicable, 

repayment option, repayment loan term, loan amount). If 

approved, we will notify you of the rate you receive within 

the stated range. 


Your rate is fixed. This means that your interest rate will 

never change during the life of your loan. For more 

information on this rate, see the Reference Notes. 

Your rate will never change after you are approved. 


Late Charge: 5% of the monthly payment if not made on or before the 

10th day after its due date. 




four repayment options that may be available to you while enrolled in 

school. 

Repayment 


Option 


(while 

directly to you or 

enrolled in 

your school) 

school) 

Interest 

Loan Term 

Rate 

(how long you 

(highest 

have to pay off 

possible 

the loan) 

starting rate) 

Total 

Paid 

(includes 

associated 

fees) 


20 Years 


starting 

1. enrolled in school. Interest will$10,000.0013.490% 

after the $45,586.06 


deferment 

loan. 

period 

PAY ONLY THE 

INTEREST 


2. 

defer payments on the 

principal amount while 

enrolled in school. 


20 Years 

starting 

$10,000.0012.130% after the $31,796.04 

deferment 

period 


20 Years 


starting 

3. principal and remaining $10,000.0013.160% after the $41,948.21 

interest while enrolled in 

deferment 

school. Unpaid interest will be 

added to your loan. 

period 

MAKE FULL 

PAYMENTS 

4. 



20 Years 

$10,000.0011.610% starting with the $25,777.72 

first payment 








with the initial principal and interest payment. 



program Type 

PERKINS 

5% 

for Students 

fixed 

STAFFORD 

Undergraduate 

3.4% 

subsidized 

fixed 

for Students 

PLUS 

Graduate & 

6.8% 

Undergraduate 

fixed 

unsubsidized 



Students 

7.9% 


fixed 

Next Steps 




information, 




Education at: 







loans. 







permitted by law). 


Fixed Interest Rate: 

This loan has a Fixed Interest Rate. The Fixed Interest Rate is 

determined by (1) your (or your cosigners, if applicable) credit 

history, (2) the Repayment Option you choose and (3) the 

Repayment Term you choose. Your interest rate will not change 

during the life of your loan. 





If you are no longer enrolled, or will not be enrolled within the next 

month, you may be offered only the "Make Full Payments" option. 

Borrower: 

Must be enrolled at an eligible school at least half-time. 

Must be of the legal age of majority or at least 17 years of 

age with a cosigner who is the legal age of majority. Age of 





state 


Cosigner: 

All cosigners must be the legal age of majority. Age of 





state 







agreement. 































penalty. 






SunTrust Bank, P.O. Box 848108, Boston, MA 02284-8108. 












balance 



lender 



SunTrust Bank 

P.O. Box 848108 

Boston, MA 02284-8108 

866-232-3889 

http://www.suntrusteducation.com/customchoice 



© 2012. All rights reserved. This work contains copyrighted materials owned by The First Marblehead Corporation. 


Wells Fargo Collegiate ® Loan Application and Solicitation Disclosure 


Your interest rate will be between 

and 

After the rate is set, it will be fixed for the entire 

term of the loan. 


7.240 13.990 

% % 


1. DEFER PAYMENTS 

Make no payments while enrolled in 

school. Interest will be charged and 

added to your loan 

2. PAY ONLY THE INTEREST 

Make interest payments but defer 

payments on the principal amount 

while enrolled in school 

3. MAKE FULL PAYMENTS 

Pay both the principal and interest 

amounts while enrolled in school 

Education Financial Services 

P.O. Box 5185 

Sioux Falls, SD 57117-5185 

1-800-658-3567 

FAX: 1-800-456-0561 

Your Interest Rate (upon approval) 

The interest rate you pay will be determined after you apply. It will 

be based upon your credit history and other factors including 

cosigner credit and your/cosigner's relationship with the Bank. If 

approved, we will notify you of the rate you qualify for within the 

stated range. 

Your Interest Rate during the life of the loan. 

Your rate is fixed. This means that your interest rate will never 

change during the life of your loan. For more information on this 

rate, see the Reference Notes. 

The total amount you will pay for this loan will vary depending upon when you start to repay it. This example provides 

estimates based upon three (3) different repayment options available to you while enrolled in school. 

Repayment Option 


(amount provided directly 

to you or your school) 

$ 10,000.00 13.990 % 

$ 10,000.00 13.990 % 

$ 10,000.00 13.990 % 

15 years 

starting after the 

deferment period 

15 years 



15 years 

starting after your 

first payment 

$ 39,038.40 

$ 30,255.12 

$ 23,959.80 


The repayment example assumes that you remain in school for 4 years and have a 6 month grace period before 

beginning repayment of the 15 

year repayment term. It is based on the highest rate currently charged and associated 

fees. 

Wells Fargo Education Financial Services is a division of Wells Fargo Bank, N.A. 

© 2011 Wells Fargo Bank, N.A. Equal Opportunity Lender Rev. (05-2011) 

Your rate will not change after you are approved. 

Application Fee: $99.99 0.00 Origination Fee: The fee that we charge to make this loan is 99.999 0.000 %. Loan Guarantee 

Fee: 99.999% 0.000 Repayment Fee: 99.999% 0.000 Late Charge: 99.999% 5.000 of the amount of the past due payment, or $ 28.00 99.99, 

whichever is greater. Returned check charge: $ 15.00 99.99. 

Interest Rate 

(highest possible 

rate) 


(how long you have to 

pay off the loan) 

Total Paid over 

15 years 

(includes associated 

fees) 

Page 1 of 4

Federal Direct Loan Alternatives 

Loan Program 

PERKINS 

For Students 


STAFFORD 

For Students 


PLUS 

For Parents and Graduate/ 

Professional Students 

Next Steps 

Current Interest Rates by Program Type 

5.00% 

fixed 

3.40% 

fixed Undergraduate Subsidized 

6.80 

% fixed Undergraduate Unsubsidized; 

Graduate Subsidized & Unsubsidized 

7.90% 

fixed 

You may qualify for Federal 

education loans. 

For additional information on 

student loan options, contact 

your school’s financial aid 

office or the Department of 

Education at: 



Some schools have school-specific student loan benefits and terms that are not detailed on this form. Contact your 

school’s financial aid office or visit the Department of Education’s website at www.federalstudent.aid.ed.gov for more 

information about other loans. 

2. To Apply For This Loan, Complete the Application and the Borrower Self-Certification Form. 

You may get the certification form from your school’s financial aid office. If you are approved for this loan, the loan terms 

will be available for 30 days (terms will not change during this period, except as permitted by law and the variable 

interest rate may change based on the market). 

Reference Notes 

Your Interest Rate 

Wells Fargo Relationship Discount - The Wells Fargo Relationship Discount will apply if the borrower or any 

cosigner has and maintains a Qualified Relationship with the Bank. Please ask the Bank about what constitutes a 

"Qualified Relationship" if you have any questions about this feature. Further Relationship Discount details are set 

forth in the Loan Request/Consumer Credit Agreement. 

Eligibility Criteria 

Borrower: 

Must be enrolled as an undergraduate or graduate student at an eligible school, and seeking a degree, certificate, 

or license. 

Must be a U.S. Citizen, permanent resident alien without conditions, or an international student who is a temporary 

resident alien with a current U.S. address and with proper evidence of eligibility. For permanent and temporary 

resident aliens, a U.S. citizen cosigner is required. 

Must have a cosigner, unless you qualify on your own by meeting credit, debt to income, and employment 

requirements. 

Must be at the age of majority or older at the time of the application. The age of majority is 18 years old in all 

states except Alabama and Puerto Rico. The age of majority in Alabama is 19. The age of majority in Puerto Rico is 

21. 

Cosigner: 

Most students will need a cosigner for this loan to meet underwriting requirements. Rates are typically higher 

without a cosigner; however, cosigners are not required for qualifying student borrowers. 

Must be at the age of majority or older at the time of the application. The age of majority is 18 years old in all 

states except Alabama and Puerto Rico. The age of majority in Alabama is 19. The age of majority in Puerto Rico is 

21. 

Bankruptcy Limitations 

If you file for bankruptcy you may still be required to pay back this loan. 

More information about loan eligibility and repayment deferral or forbearance options is available in your loan 

request/consumer credit agreement. 



Page 2 of 4

Wells Fargo Collegiate ® Loan Application and Solicitation Disclosure 


Your starting interest rate will be between 

3.500 and 9.990 

After the starting rate is set, your rate will then vary 

with the market. 


% % 





added to your loan 




while enrolled in school 



amounts while enrolled in school 

Education Financial Services 

P.O. Box 5185 

Sioux Falls, SD 57117-5185 

1-800-658-3567 

FAX: 1-800-456-0561 

Your Interest Rate during the life of the loan. 


lower or higher than the rates on this form. The variable rate is 

based upon the Prime Rate (a publicly available interest rate we 

use to set the variable rate). 

$ 10,000.00 9.990% 

$ 10,000.00 9.990% 

$ 10,000.00 9.990% 

There is no maximum interest rate on this loan. 





(amount provided directly 

to you or your school) 




The starting interest rate you pay will be determined after you 

apply. It will be based upon your credit history and other factors 

including cosigner credit and your/cosigner's relationship with the 

Bank. If approved, we will notify you of the rate you qualify for 

within the stated range. 

Application Fee: $99.99 0.00 Origination Fee: The fee that we charge to make this loan is 99.999 0.000 %. Loan Guarantee 

Fee: 99.999% 0.000 Repayment Fee: 99.999% 0.000 Late Charge: 99.999% 5.000 of the amount of the past due payment, or $ 28.00 99.99, 

whichever is greater. Returned check charge: $ 15.00 99.99. 

Interest Rate 

(highest starting 

possible rate) 




15 years 



15 years 



15years 


first payment 

Total Paid over 

15 years 


fees) 

$ 28,020.60 

$ 23,827.50 

$ 19,332.00 


The repayment example assumes that you remain in school for 4 years and have a 6 month grace period before 

beginning repayment of the 15 

year repayment term. It is based on the highest starting rate currently charged and 

associated fees. 

Page 3 of 4

Federal Direct Loan Alternatives 

Loan Program 

PERKINS 

For Students 


Stafford 

For Students 


PLUS 

For Parents and Graduate/ 


Next Steps 



For additional information on 

student loan options, contact 

your school’s financial aid 

office or the Department of 

Education at: 



Some schools have school-specific student loan benefits and terms that are not detailed on this form. Contact your 

school’s financial aid office or visit the Department of Education’s website at www.federalstudent.aid.ed.gov for more 


2. To Apply For This Loan, Complete the Application and the Borrower Self-Certification Form. 


will be available for 30 days (terms will not change during this period, except as permitted by law). 

Reference Notes 

Variable Interest Rate 

This loan has a variable interest rate, that is based on a publicly available index, the Prime Rate. Your rate will be calculated 

each month by adding a margin between 0.250% and 6.740 % to the Prime Rate. The Index (which is equal to the Prime 

Rate) is subject to a contractual minimum of 3.250 

%. 

The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. 

Wells Fargo Relationship Discount 

The Wells Fargo Relationship Discount will apply if the borrower or any cosigner has and maintains a Qualified Relationship with 

the Bank. Please ask the Bank about what constitutes a "Qualified Relationship" if you have any questions about this feature. 

Further Relationship Discount details are set forth in the Loan Request/Consumer Credit Agreement. 


Borrower: 

Must be enrolled as an undergraduate or graduate student at an eligible school, and seeking a degree, certificate, or license. 

Must be a U.S. Citizen, permanent resident alien without conditions, or an international student who is a temporary resident alien 

with a current U.S. address and with proper evidence of eligibility. For permanent and temporary resident aliens, a U.S. citizen 

cosigner is required. 

Must have a cosigner, unless you qualify on your own by meeting credit, debt to income, and employment requirements. 

Must be at the age of majority or older at the time of the application. The age of majority is 18 years old in all states except 

Alabama and Puerto Rico. The age of majority in Alabama is 19. The age of majority in Puerto Rico is 21. 

Cosigner: 

Most students will need a cosigner for this loan to meet underwriting requirements. Rates are typically higher without a cosigner; 

however, cosigners are not required for qualifying student borrowers. 

Must be at the age of majority or older at the time of the application. The age of majority is 18 years old in all states except 

Alabama and Puerto Rico. The age of majority in Alabama is 19. The age of majority in Puerto Rico is 21. 


Current Interest Rates by Program Type 

5.00% 

fixed 

3.40% 

fixed Undergraduate Subsidized 

6.80 

% fixed Undergraduate Unsubsidized; 

Graduate Subsidized & Unsubsidized 

7.90% 

fixed 

If you file for bankruptcy you may still be required to pay back this loan. 

More information about loan eligibility and repayment deferral or forbearance options is available in your loan request/ 

consumer credit agreement. 



Page 4 of 4

The PNC Solution Loan for Undergraduates 




3.570% 

and 11.270% 

After the starting rate is set, your rate 

will then vary with the market. 

PNC Bank, National Association 

2600 Liberty Avenue 

Suite 200 

Pittsburgh, PA 15222 


The starting Interest Rate you pay will be determined after you apply. The 

rate will be established by your credit history (and your cosigner’s if 

applicable). If approved, we will notify you of the rate you qualify for within 

the stated range. 


Your rate is variable. This means that your actual rate varies with the 

market and could be lower or higher than the rate on this form. The 

variable rate is based upon the average of the LIBOR rates published in 

the "Money Rates" section of The Wall Street Journal on the first business 

day of each of the three (3) immediately preceding calendar months. For 

more information on this rate, see Reference Notes. 


Origination Fee 0%. Late Charges: 5% of the past due amount or $5.00, whichever is less. Collection and Default Charges: In the 

event of a default, the borrower may incur additional collection charges as permitted under applicable law. 



estimates based upon three (3) repayment options available to you while enrolled in school. 


(while enrolled in school) 



school. Interest will accrue and 

unpaid accrued interest will be added 

to your principal balance when you 

enter repayment. 






Make principal and interest payments 





your school) 

Although the rate will vary after you are approved, it will never 

exceed 18% (the maximum allowable for this loan). 

Interest Rate 






$10,000 11.270% 180 months 



$10,000 11.270% 180 months 



$10,000 11.270% 180 months 

starting after the final 

disbursement 

Total Paid over 180 

months 


fees) 

$31,593.60 

$25,623.36 

$21,052.80 


The repayment example assumes you remain in school for forty-eight (48) months and have a six (6) month grace period prior to entering 

repayment. The repayment example is based on the highest starting rate currently charged and associated fees. 

SEE BACK OF PAGE


Loan Program Current Interest Rates by Program Type 

PERKINS 

for Students 

STAFFORD 

for students 

PLUS 

for Parents and Graduate/ 


Next Steps 

5.000% fixed 

3.400% fixed Undergraduate subsidized 

6.800% fixed Undergraduate unsubsidized & Graduate 

7.900% fixed 



For additional information, contact 

your school’s financial aid office 

or the Department of Education 

at: 



Some schools have school-specific student loan benefits and terms not detailed on this form. Contact your school's 

financial aid office or visit the Department of Education's website at: 

www.federalstudentaid.ed.gov for more information about other loans. 

2. To Apply for this Loan, Complete the Application and the Self-Certification Form. 

You may get the certification form from your school's financial aid office. If you are approved for this loan, the loan 

terms will be available for 30 days (terms will not change during this period, except as permitted by law and the 

variable interest rate may change based on the market). 



• The variable interest rate is based upon the LIBOR index plus a margin of 3.300% to 11.000% based on creditworthiness, and is 

adjusted quarterly. 

• The rate will not increase more than once a quarter, but there is no limit on the amount that the rate could increase at one time. 

Your rate will never exceed 18.000%. 


• Borrower and cosigner, if applicable, must be US citizens or permanent resident aliens. 

• Borrower must be at least the age of majority in his or her state of residence or be at least 17 years old and apply with a 

creditworthy cosigner who is the age of majority. 

• Borrower must be enrolled at least half time and in an eligible program. 

• Both borrower and cosigner, if applicable, are subject to credit approval. Additional documentation may be required. 

• Applying without a cosigner typically results in a higher rate and/or fees. 

• The borrower on an individual application and the cosigner on a joint application must have an employment history of at least two 

years. 


• If you file for bankruptcy you may still be required to pay back this loan. 

More information about loan eligibility and repayment deferral or forbearance options is available in your loan application and 

loan agreement.




Brand : 







Union Federal Savings Bank 

1565 Mineral Spring Avenue 

North Providence, RI 02904 

866-513-8445 


Your 

starting 

interest 

rate will be 

between 

2.870% 

and 

9.260% 

After the 

starting rate 

is set, your 

rate will 

then vary 

with the 

market 











is based upon the LIBOR Rate (as published in the The Wall 

Street Journal ). For more information on this rate, see the 

Reference Notes. 

Although the rate will vary, it will never exceed 21% (the 

maximum allowable by law for this loan) 


Late Charge: $25.00 or 5% (whichever is less) of the overdue payment 

if not made on or before the 10th day after its due date. 




four repayment options available to you while enrolled in school. 

RepaymentAmount 

Option Provided 

Interest 

Rate 

Loan Term Total Paid 



(while 

enrolled in 

school)* 

(how long you 

(amount provided (highest 


directly to your possible 

the loan) 

school) starting rate) 

(includes 

associated 

fees) 


15 Years 


starting 



deferment 

loan. 

period 


15 Years 


starting 



deferment 

school. 


period 


15 Years 


starting 



deferment 


your loan. 

period 

MAKE FULL 

PAYMENTS 

4. 




$10,000.007.490% with the first $16,676.73 

payment 






with the initial principal and interest payment. *If you are no longer 

enrolled, or will become unenrolled within the next month, you may be 

offered only the "Make Full Payments" option. 



program Type 

PERKINS 

5% 

for Students 

fixed 

STAFFORD 

Undergraduate 

3.4% 

subsidized 

fixed 

for Students 

PLUS 

Graduate & 

6.8% 

Undergraduate 

fixed 

unsubsidized 



Students 

7.9% 


fixed 




information, 




Education at: 




Next Steps 






loans. 







permitted by law and the variable interest rate may change based 

on the market). 



This loan has a variable interest rate that is based on a publicly 

available index, the London Interbank Offered Rate (LIBOR). Your 

rate will be calculated each calendar quarter by adding a margin of 

between 2.60% to 8.99% to the average of the one-month LIBOR 

rates published in The Wall Street Journal (Eastern Edition) on the 

first business day of each of the three (3) immediately preceding 

calendar months, rounded to the nearest one-hundredth of one 

percent (0.01%). 

Your interest rate may increase or decrease quarterly if the One- 


payment. 

Your interest rate will not increase more than once a quarter, but 


time. Your rate will never exceed 21.0%. 



Borrower must be: 

Enrolled at an eligible school at least half-time. 

Borrower and cosigner must be 18 years of age or the age of 

majority in your state of permanent residence. 

The legal age of majority, unless Borrower: (1) is at least 17 

years of age on the application date and (2) has applied with 

a cosigner who is the legal age of majority. 

Cosigner must be: 

The legal age of majority. Age of majority is determined by 

your state of permanent residence: 18 years of age in most 

states, 19 years of age in Nebraska (for wards of the state) 

and Alabama, and 21 years of age in Mississippi and Puerto 

Rico. 








agreement. 





























penalty. 








Union Federal Savings Bank, P.O. Box 848108, Boston, MA 

02284-8108. 












balance 



lender 




P.O. Box 848108 

Boston, MA 02284-8108 

866-513-8445 

http://www.unionfederalstudentloan.com 






Brand : 








1565 Mineral Spring Avenue 

North Providence, RI 02904 

866-513-8445 


Your 

starting 

interest 

rate will be 

between 

2.870% 

and 

9.260% 

After the 

starting rate 

is set, your 

rate will 

then vary 

with the 

market 











is based upon the LIBOR Rate (as published in the The Wall 

Street Journal ). For more information on this rate, see the 

Reference Notes. 

Although the rate will vary, it will never exceed 21% (the 

maximum allowable by law for this loan) 


Late Charge: $25.00 or 5% (whichever is less) of the overdue payment 

if not made on or before the 10th day after its due date. 




four repayment options available to you while enrolled in school. 

RepaymentAmount 

Option Provided 

Interest 

Rate 

Loan Term Total Paid 



(while 

enrolled in 

school)* 

(how long you 

(amount provided (highest 


directly to your possible 

the loan) 

school) starting rate) 

(includes 

associated 

fees) 


15 Years 


starting 



deferment 

loan. 

period 


15 Years 


starting 



deferment 

school. 


period 


15 Years 


starting 



deferment 


your loan. 

period 

MAKE FULL 

PAYMENTS 

4. 




$10,000.007.490% with the first $16,676.73 

payment 






with the initial principal and interest payment. *If you are no longer 

enrolled, or will become unenrolled within the next month, you may be 

offered only the "Make Full Payments" option. 



program Type 

PERKINS 

5% 

for Students 

fixed 

STAFFORD 

Undergraduate 

3.4% 

subsidized 

fixed 

for Students 

PLUS 

Graduate & 

6.8% 

Undergraduate 

fixed 

unsubsidized 



Students 

7.9% 


fixed 




information, 




Education at: 




Next Steps 






loans. 







permitted by law and the variable interest rate may change based 

on the market). 



This loan has a variable interest rate that is based on a publicly 

available index, the London Interbank Offered Rate (LIBOR). Your 

rate will be calculated each calendar quarter by adding a margin of 

between 2.60% to 8.99% to the average of the one-month LIBOR 

rates published in The Wall Street Journal (Eastern Edition) on the 

first business day of each of the three (3) immediately preceding 

calendar months, rounded to the nearest one-hundredth of one 

percent (0.01%). 

Your interest rate may increase or decrease quarterly if the One- 


payment. 

Your interest rate will not increase more than once a quarter, but 


time. Your rate will never exceed 21.0%. 



Borrower must be: 

Enrolled at an eligible school at least half-time. 

Borrower and cosigner must be 18 years of age or the age of 

majority in your state of permanent residence. 

The legal age of majority, unless Borrower: (1) is at least 17 

years of age on the application date and (2) has applied with 

a cosigner who is the legal age of majority. 

Cosigner must be: 

The legal age of majority. Age of majority is determined by 

your state of permanent residence: 18 years of age in most 

states, 19 years of age in Nebraska (for wards of the state) 

and Alabama, and 21 years of age in Mississippi and Puerto 

Rico. 








agreement. 





























penalty. 








Union Federal Savings Bank, P.O. Box 848108, Boston, MA 

02284-8108. 












balance 



lender 




P.O. Box 848108 

Boston, MA 02284-8108 

866-513-8445 

http://www.unionfederalstudentloan.com 



Private Education Loan Application and Solicitation Disclosure - CITIASSIST UNDERGRADUATE REVISED APRIL 1, 2012 



3.250% and 

After the starting rate is set, your rate will then 

vary with the market. 


Loan Fee: None 

Late Charge: $15 per delinquent payment. 


9.500% 

Citibank, N.A. 

P.O Box 6074 

Sioux Falls SD 57117-6074 

1-800-967-2400 

Page 1 of 2 

Your Starting Interest Rate (Upon Approval) 

The starting interest rate you pay will be determined after you 

apply. Your interest rate will be based upon your credit 

score, the credit score of any co-signer and other factors. If 

approved, we will notify you of the rate for which you qualify 

within the stated range. 

Your Interest Rate During the Life of the Loan 


lower or higher than the rates on this form. The variable rate is 

based upon the 3-month LIBOR Rate as published in The Wall 

Street Journal. For more information on this rate, see the 

reference notes. 

There is no limit on the amount the interest rate can 

increase. 






Make no payments while enrolled in school. 

Interest will be charged and added to your loan. 


Make the interest payments but defer payments 

on the principal amount while enrolled in school. 

3. MAKE FULL PAYMENT 

Pay principal and interest amounts in fully amortizing 

payments while enrolled in school. 




your school) 

$10,000.00 

$10,000.00 

$10,000.00 

Interest Rate 



9.500% 

9.500% 

9.500% 


(how long you have 

to pay off the loan) 



Total Paid Over 

180 Months 


fees) 

180 months $26,831.35 

180 months $23,071.14 



180 months $18,796.04 


first payment 

About This Example 

The repayment examples assumes that you remain in school for 48 months and have a 6 month grace period before beginning repayment. The 

maximum repayment period is 180 months, starting once the initial principal payment is made. It assumes that unpaid accrued interest is capitalized at 

the end of the grace period. It is based on the highest starting rate currently charged and associated fees. A $50 minimum monthly payment is required.




PERKINS 

for Students 

STAFFORD 

for Students 

PLUS 

For Parents and 

Graduate / Professional 

Students 

Next Steps 

5.00% fixed 

3.40% fixed 

6.80% fixed 

7.90% fixed 

Undergraduate subsidized 

Undergraduate unsubsidized & 

Graduate 

PLUS Loans 

Page 2 of 2 

You May Qualify for Federal 

Education Loans. 


your school’s financial aid office or 

the Department of Education at: 




financial aid office or visit the Department of Education's web site at www.federalstudentaid.ed.gov for more 



You may get the self-certification form from your school's financial aid office. If you are approved for this loan, the loan 

terms will be available for 85 days (terms will not change during this period, except the variable interest rate may 

change based on adjustments to the index). 



• This loan has a variable interest rate that is indexed to the 3-month 

London Interbank Offered Rate (LIBOR), as published in the “Money 

Rates” section of The Wall Street Journal, rounded up to the nearest 

one-eighth of one percent, plus or minus a margin. Your rate is 

calculated quarterly by adding a margin between 2.75% and 9.00% to 

the LIBOR. 

• Your rate will not increase more than once every three months, but 

there is no limit on the amount that the rate could increase at one time. 


Borrowers 

• Students must be enrolled at least half-time in a degree seeking 

program at an accredited and approved college or university in the 

U.S. 

• Students must be making satisfactory academic progress as defined 

by school. 

• Students must be at least 18 years of age, 19 in AL and NE, and 21 in 

MS and PR, or apply with a creditworthy co-signer. 

• Permanent residents and international students are eligible for this 

loan and must provide applicable immigration documentation. 

• International students must apply with a creditworthy U.S. citizen or 

permanent resident co-signer. 

Co-signers 

• Interest rates are typically higher without a co-signer. Since private 

loans are credit based, applying with a creditworthy co-signer may 

increase the likelihood of your approval and may help you qualify for 

a lower interest rate. 

• Must be a U.S. citizen or permanent resident who is at least 18 years 

of age, 19 in AL and NE, and 21 in MS and PR. 


• If you file for bankruptcy, you may still be required to pay back this 

loan. 


forbearance options are available in your loan application and loan 

agreement.




PERKINS 

for Students 

STAFFORD 

for Students 

PLUS 



Students 

Next Steps 

5.00% fixed 

3.40% fixed 

6.80% fixed 

7.90% fixed 



Graduate 


Page 2 of 2 






















the LIBOR. 




Borrowers 



U.S. 


by school. 







Co-signers 









loan. 



agreement.




PERKINS 

for Students 

STAFFORD 

for Students 

PLUS 



Students 

Next Steps 

5.00% fixed 

3.40% fixed 

6.80% fixed 

7.90% fixed 



Graduate 


Page 2 of 2 






















the LIBOR. 




Borrowers 



U.S. 


by school. 







Co-signers 









loan. 



agreement.

[Date of disclosure] Rev. #:_________________ 

Smart Option Student Loan Application and Solicitation Disclosure 

Page 1 of 2 



2.250% and 10.125% 

After the starting rate is set, your rate will 

then vary with the market 


The repayment example assumes that you remain in school for 4 

years and have a 6-month separation period before beginning repayment. It is based on 

the highest starting rate currently charged and associated fees. Please note that monthly principal and interest payments after the separation period ends 

and the interest rate on your loan are higher for the “Fixed Payment” and “Defer Payment” Repayment Options. So long as you do so prior to finalizing this 

loan, you can change your repayment option election by calling 877-279-7172. Principal and interest repayment terms vary from 5 to 15 years and are based 

upon the borrower’s cumulative outstanding Sallie Mae-serviced private student loan balance and the student’s school-certified academic grade level. 

SEE BACK OF PAGE 

SALLIE MAE BANK 

P.O. Box 9435 

Wilkes-Barre, PA 18773-9435 

(877) 279-7172 


The starting interest rate you pay will be determined after you apply. 

It will be based upon your credit history, which repayment option 

you choose, and other factors. If approved, we will notify you of the 

rate you qualify for within the stated range. 


Your rate is variable. This means that your rate could move lower 

or higher than the rates on this form. The variable rate is based upon 

the one-month LIBOR Rate (as published by the Reuters on its 

Reuters Screen LIBOR01). For more information on this rate, see 

the reference notes. 


Application fee: $0XXX. Disbursement fee: The fees that we charge to make this loan are XXX 0% 

amount. Late charge: 5% of the amount of the past due payment, or $5, whichever is greater. 

to XXX 0% of total loan 

Returned check charge: up to $20. Fee when you begin repaying the loan: XXX of loan balance. 


There is no limit on the amount the interest rate can increase. 



Repayment Options Amount Provided Interest Rate Loan Term Total Paid over 

(while enrolled in school and during the (amount provided (highest possible (how long you have life of loan 

separation period of six (6) billing cycles thereafter) directly to you or starting rate) to pay off the loan) (includes 

your school) associated fees) 

INTEREST PAYMENT 

Make interest payments but defer payments 

$10,000 

9.125% 

7 years 


$17,318.65 

on the principal amount while enrolled in 

school and during separation. 

in school period 

FIXED PAYMENT 

Make fixed payments of $25 each month 

$10,000 9.625% 

10 years 

starting after the $21,045.03 

while enrolled in school and during separation. 

Interest will be charged and unpaid interest 

will be added to your loan. 


DEFER PAYMENT 

Make no payments while enrolled in school 

$10,000 10.125% 12 years 


$24,503.03 

and during separation. Interest will be charged 

and added to your loan. 


0% 

01



Page 2 of 2 


Loan program Current Interest Rates by Program Type 

PERKINS 

for Students 

STAFFORD 

for Students 

Next Steps 


Some schools have school-specific student loan benefits and terms not detailed on this form. Contact your school’s 

financial aid office or visit the Department of Education’s web site at: www.federalstudentaid.ed.gov for more 







5% fixed 

3.4% fixed 

6.8% fixed 


• This loan has a variable interest rate that is based on a publicly available 

index, the one-month London Interbank Offered Rate (LIBOR). 

Your rate will be calculated each month by adding a margin between 

XXXXXX +2.00% and XXXXXXX +9.875% 

to the LIBOR. 

• The rate will not increase more than once a month, but there is no limit 

on the amount that the rate could increase at one time. 


Borrower 

• You must attend an eligible school, be an undergraduate student, or 

attending an eligible associate, graduate or technical/trade program at 

least half-time. In some circumstances, the Smart Option Student Loan 

is available to less-than-half-time students and students enrolled in a 

continuing education program. 

• Must have attained the age of majority in your state of residence at the 

time of loan application. Otherwise, a cosigner is required. 


Undergraduate unsubsidized and Graduate 

PLUS Federal Direct Loan 

for Parents and Graduate/ 7.9% fixed 




For additional information, 

contact your school’s financial 

aid office or the Department of 

Education at: 


Cosigners 

• A cosigner is not required, but may help you qualify and/or receive a 

lower interest rate. 

• Must have attained the age of majority in their state of residence at the 

time of loan application. 




forbearance options is available in your loan application and 

Promissory Note. 

01



Page 1 of 2 



2.250% and 10.125% 


then vary with the market 


The repayment example assumes that you remain in school for 4 

years and have a 6-month separation period before beginning repayment. It is based on 

the highest starting rate currently charged and associated fees. Please note that monthly principal and interest payments after the separation period ends 

and the interest rate on your loan are higher for the “Fixed Payment” and “Defer Payment” Repayment Options. So long as you do so prior to finalizing this 

loan, you can change your repayment option election by calling 877-279-7172. Principal and interest repayment terms vary from 5 to 15 years and are based 

upon the borrower’s cumulative outstanding Sallie Mae-serviced private student loan balance and the student’s school-certified academic grade level. 

SEE BACK OF PAGE 

SALLIE MAE BANK 

P.O. Box 9435 

Wilkes-Barre, PA 18773-9435 

(877) 279-7172 


The starting interest rate you pay will be determined after you apply. 

It will be based upon your credit history, which repayment option 

you choose, and other factors. If approved, we will notify you of the 



Your rate is variable. This means that your rate could move lower 

or higher than the rates on this form. The variable rate is based upon 

the one-month LIBOR Rate (as published by the Reuters on its 

Reuters Screen LIBOR01). For more information on this rate, see 

the reference notes. 


Application fee: $0XXX. Disbursement fee: The fees that we charge to make this loan are XXX 0% 

amount. Late charge: 5% of the amount of the past due payment, or $5, whichever is greater. 

to XXX 0% of total loan 

Returned check charge: up to $20. Fee when you begin repaying the loan: XXX of loan balance. 


There is no limit on the amount the interest rate can increase. 



Repayment Options Amount Provided Interest Rate Loan Term Total Paid over 

(while enrolled in school and during the (amount provided (highest possible (how long you have life of loan 

separation period of six (6) billing cycles thereafter) directly to you or starting rate) to pay off the loan) (includes 

your school) associated fees) 

INTEREST PAYMENT 

Make interest payments but defer payments 

$10,000 

10.125% 

12 years 


$21,469.79 

on the principal amount while enrolled in 

school and during separation. 


FIXED PAYMENT 

Make fixed payments of $25 each month 

$10,000 10.125% 

12 years 

starting after the $23,548.34 

while enrolled in school and during separation. 

Interest will be charged and unpaid interest 

will be added to your loan. 


DEFER PAYMENT 

Make no payments while enrolled in school 

$10,000 10.125% 12 years 


$24,503.03 

and during separation. Interest will be charged 

and added to your loan. 


0% 

01



Page 2 of 2 


Loan program Current Interest Rates by Program Type 

PERKINS 

for Students 

STAFFORD 

for Students 

Next Steps 


Some schools have school-specific student loan benefits and terms not detailed on this form. Contact your school’s 

financial aid office or visit the Department of Education’s web site at: www.federalstudentaid.ed.gov for more 







5% fixed 

3.4% fixed 

6.8% fixed 


• This loan has a variable interest rate that is based on a publicly available 

index, the one-month London Interbank Offered Rate (LIBOR). 

Your rate will be calculated each month by adding a margin between 

XXXXXX +2.00% and XXXXXXX +9.875% 

to the LIBOR. 

• The rate will not increase more than once a month, but there is no limit 

on the amount that the rate could increase at one time. 


Borrower 

• You must attend an eligible school, be an undergraduate student, or 

attending an eligible associate, graduate or technical/trade program at 

least half-time. In some circumstances, the Smart Option Student Loan 

is available to less-than-half-time students and students enrolled in a 

continuing education program. 

• Must have attained the age of majority in your state of residence at the 

time of loan application. Otherwise, a cosigner is required. 


Undergraduate unsubsidized and Graduate 

PLUS Federal Direct Loan 

for Parents and Graduate/ 7.9% fixed 







Education at: 


Cosigners 

• A cosigner is not required, but may help you qualify and/or receive a 

lower interest rate. 

• Must have attained the age of majority in their state of residence at the 

time of loan application. 




forbearance options is available in your loan application and 

Promissory Note. 

01




2.94 % and 9.99 % 


then vary with the market. 

The maximum rate on the TruFit Student Loan is the 

greater of 21.00% or Prime plus 9.00%. 


RBS Citizens, N.A. 

(dba Citizens Bank) 

PO Box 42124 

Providence, RI 02940-2124 

800.708.6684 


Page 1 of 2 


you apply. It will be based upon your credit history and 

other factors (chosen repayment option and co-signer 

credit, if applicable). If approved, we will notify you of the 



Your rate is variable. This means that your rate could 

move lower or higher than the rates on this form. The 

variable rate is based upon the one-month London 

Interbank Offered Rate (“LIBOR”) published in the The 

Wall Street Journal on the twenty-fifth day, or the next 

business day, of the preceding calendar month. For more 

information on this rate, see the reference notes. 

Origination Fee: There is no origination fee on this loan. Late Charges: If your payment or any portion of your 

payment is more than fifteen (15) days late, you agree to pay a late charge of 5% of the payment amount. Returned 

Payment Charge: If you make a payment, and that payment (including an electronic payment) is returned or refused 

by your bank for any reason you agree to pay a charge of $15.00 for each such payment returned or refused. This is 

in addition to any fee that your bank may also charge you. Charges for Optional Services: If you request and 

Lender agrees to provide optional services in connection with your loan, Lender may charge you and you agree to 

pay the fees for such services. The fees will be disclosed to you before you accept any such service. Optional 

services may include, but are not limited to: (1) allowing you to make an expedited payment on your loan, and (2) 

sending documents to you by express delivery or facsimile transmission. 


The total amount you will pay for this loan will vary depending upon when you start to repay it. This example 

provides estimates based upon the three (3) repayment options available to you while enrolled in school. 







amounts while enrolled in school. 



directly to your 

school) 

Interest Rate 






Starting after the 



first disbursement 

Total Paid 

over 15 years 

(includes 

associated fees) 

1. DEFER PAYMENTS $10,000.00 

9.99 % 15 years 

$ 27,074.67 

Make no payments while enrolled in Starting after the 




2. PAY ONLY THE INTEREST $10,000.00 

9.74 % 15 years 

$ 22,965.24 

3. MAKE FULL PAYMENTS $10,000.00 

9.74 % 15 years 

$ 18,761.87 


*Assumptions: All loans assume a $ 10,000 loan in the first year of school with two disbursements, a variable interest rate of a 

Monthly LIBOR rate plus the highest margin currently offered and associated fees for the repayment option shown. Other 

assumptions include a 45 month in-school period, a 6 month grace period (if applicable), the current LIBOR rate, and that the 

borrower remains in school through the expected graduation date. 

SEE NEXT PAGE




PERKINS 

for Students 

Direct STAFFORD 

for Students 

Direct PLUS 



Students 

Next Steps 

5.00% fixed 

6.80% fixed 

Undergraduate Subsidized 

Undergraduate 

Unsubsidized & Graduate 

7.90% fixed Federal Direct Loan 


Some schools have school-specific student loan benefits and terms not detailed on this form. 

Contact your school’s financial aid office or visit the Department of Education’s website at: 


Page 2 of 2 






Education at: 



You may get the certification form from your school’s financial aid office. If you are approved for 

this loan, the loan terms will be available for 30 days (terms will not change during this period, 

except as permitted by law and the variable interest rate may change based on the market). 


Interest Rate 

3.40% fixed 

This loan has a variable interest rate that is 

based on a publicly available index, the London 

Interbank Offered Rate (LIBOR). Your rate will be 

calculated each month by adding a margin 

between 2.70 % and 9.75% 

to the LIBOR. 

In no event will the variable rate exceed the 

maximum interest rate allowed by the laws of the 

State of Rhode Island which is the greater of 

21% or Prime plus 9%. 

Borrowers are eligible while in repayment to 

receive a 0.50% interest rate reduction by 

automating payments from any eligible Citizens 

Bank account. Borrowers must reside in the 

following states in order to open an eligible 

account: CT, DE, MA, NH, NJ, NY, OH, IL, MI, 

PA, RI, VT. Borrowers may receive a 0.25% 

interest rate reduction by automating payments 

from any eligible non-Citizens Bank account. 

Rates are typically higher without a co-signer. 

Interest rates and benefits listed in this 

document only apply to students attending 

certain eligible institutions. For questions, 

please call our Education Finance Specialists at 

800-708-6684. 


Student 

Must be enrolled at least half-time in a degree 

granting program at an eligible institution. 

Must be a U.S. citizen or permanent resident, or 

have a U.S. citizen co-signer. 

Must be of legal borrowing age in their state of 

residence. 

International students can apply with a 

creditworthy U.S. citizen or permanent resident 

co-signer. 

Co-signers 



residence. 


If you file for bankruptcy, you may still be required to 

pay back this loan. 

More information about loan eligibility and 

repayment deferral or forbearance options is 

available in your loan application and loan 

agreement.




6.75 % and 12.75 % 


then remain fixed for the term of the loan. 



RBS Citizens, N.A. 

(dba Citizens Bank) 

PO Box 42124 

Providence, RI 02940-2124 

888.411.1419 


Page 1 of 2 


you apply. It will be based upon your credit history and 

other factors (chosen repayment option and co-signer 

credit, if applicable). If approved, we will notify you of the 



Your rate is fixed. This means that your rate will 

remain constant over the term of your loan. For more 

information on this rate, see the reference notes 

below. 

The maximum rate on the TruFit Student Loan is the fixed 

rate which will be disclosed to you if you qualify. 

Origination Fee: There is no origination fee on this loan. Late Charges: If your payment or any portion of your 

payment is more than fifteen (15) days late, you agree to pay a late charge of 5% of the payment amount. Returned 

Payment Charge: If you make a payment, and that payment (including an electronic payment) is returned or refused 

by your bank for any reason you agree to pay a charge of $15.00 for each such payment returned or refused. This is 

in addition to any fee that your bank may also charge you. Charges for Optional Services: If you request and 

Lender agrees to provide optional services in connection with your loan, Lender may charge you and you agree to 

pay the fees for such services. The fees will be disclosed to you before you accept any such service. Optional 

services may include, but are not limited to: (1) allowing you to make an expedited payment on your loan, and (2) 

sending documents to you by express delivery or facsimile transmission. 

The total amount you will pay for this loan will vary depending upon when you start to repay it. This example 

provides estimates based upon the three (3) repayment options available to you while enrolled in school. 





directly to your 

school) 

Interest Rate 






Total Paid 

over 10 years 

(includes 

associated fees) 

1. DEFER PAYMENTS $10,000.00 

12.75% 10 years 

$ 26,805.66 






2. PAY ONLY THE INTEREST $10,000.00 

12.25% 10 years 

$ 22,300.54 






3. MAKE FULL PAYMENTS $10,000.00 

12.25% 10 years 

$ 17,051.55 



amounts while enrolled in school. 

first disbursement 


*Assumptions: All loans assume a $10,000 loan in the first year of school with two disbursements, the highest fixed interest rate 

currently offered and associated fees for the repayment option shown. Other assumptions include a 45 month in-school period, a 

6 month grace period (if applicable), and that the borrower remains in school through the expected graduation date. 

SEE NEXT PAGE




PERKINS 

for Students 

Direct STAFFORD 

for Students 

Direct PLUS 



Students 

Next Steps 

5.00% fixed 

3.40% fixed Undergraduate Subsidized 

6.80% fixed 

Undergraduate 

Unsubsidized & Graduate 

7.90% fixed Federal Direct Loan 


Some schools have school-specific student loan benefits and terms not detailed on this form. 

Contact your school’s financial aid office or visit the Department of Education’s website at: 


Page 2 of 2 






Education at: 



You may get the certification form from your school’s financial aid office. If you are approved for 

this loan, the loan terms will be available for 30 days (terms will not change during this period, 

except as permitted by law). 


Interest Rate 

This loan has a fixed interest rate that will remain 

constant over the term of the loan. 

Borrowers are eligible to receive a 0.50% interest 

rate reduction by automating payments from any 

eligible Citizens Bank account, or a .25% interest 

rate reduction by automating payments from any 

eligible non-Citizens Bank account. 



If you file for bankruptcy, you may still be required to 

pay back this loan. 

Interest rates and benefits listed in this 

document only apply to students attending 

certain eligible institutions. For questions, 

please call our Education Finance Specialists at 

888-411-1419. 

More information about loan eligibility and 

repayment deferral or forbearance options is 

available in your loan application and loan 

agreement. 


Student 

Must be enrolled at least half-time in a degree 

granting program at an eligible institution. 

Must be a U.S. citizen or permanent resident, or 

have a U.S. citizen co-signer. 


residence. 

International students can apply with a 

creditworthy U.S. citizen or permanent resident 

co-signer. 

Co-signers 



residence.

Private Loan Application Sample Disclosures - Frostburg State ...

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