FAFSA Guide

Ascent Student Loan Disclosure

Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply.

For Ascent Terms and Conditions please visit: AscentFunding.com/Ts&Cs

Rates displayed above are effective as of 4/1/2025 and reflect an Automatic Payment Discount of 0.25% for credit-based college student loans and 1.00% discount on outcomes-based loans when you enroll in automatic payments. The Full P&I (Immediate) Repayment option is only available for college loans (except for outcomes-based loans) originated on or after June 3, 2024. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school, and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits.

The AscentUP platform is only available to eligible Ascent borrowers and subject to terms and conditions.

College Ave Student Loan Refi

College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC.. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

⁽²⁾All rates shown include the autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.

⁽³⁾$5,000 is the minimum requirement to refinance. The maximum loan amount is $300,000 for those with medical, dental, pharmacy or veterinary doctorate degrees, and $150,000 for all other undergraduate or graduate degree.

⁽⁴⁾This informational repayment example uses typical loan terms for a refi borrower with a Full Principal & Interest Repayment and a 10-year repayment term, has a $40,000 loan and a 5.5% Annual Percentage Rate (“APR”): 120 monthly payments of $434.11 while in the repayment period, for a total amount of payments of $52,092.61. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

Information advertised valid as of 09/03/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.

College Ave Student Loans

College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

⁽¹⁾All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.

⁽²⁾As certified by your school and less any other financial aid you might receive. Minimum $1,000.

⁽³⁾This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

Information advertised valid as of 04/14/2025. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.

1. Interest Rates

Selecting ‘Apply Now’ results in a soft credit pull, which will not affect your credit score. If you continue with your application, Nelnet Bank will request your permission to obtain your full credit report from one or more consumer reporting agencies. This is a hard credit pull and may affect your credit score.

Refinance Loan

Fixed interest rates range from APR (with auto debit discount) to APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. The fixed interest rate will remain the same for the life of the loan.

Variable interest rates range from APR (with auto debit discount) to APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. Variable rates may increase after consummation. Variable rates for Nelnet Bank Refinance Loans are calculated using either (a) the One-Month SOFR; (b) the 30-day Average SOFR; or (c) the forward-looking term rate based on SOFR as published by the Federal Reserve Bank of New York and/or The Wall Street Journal “Money Rates” table on the twenty-fifth day (or the next business day) of the immediately preceding calendar month. The variable rate may reprice and change on the first day of each month if the SOFR index changes. This may result in higher monthly payments. The current One-Month SOFR index is as of .

The lowest rate for each loan type requires automatically withdrawn (“auto debit”) payment. The lowest rate is available only to the most creditworthy applicants. Not all borrowers will receive the lowest rate. The interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the credit history of the borrower and, if applicable, the cosigner, (2) the loan term selected, (3) the loan type selected, and (4) the highest level of education attained. If approved, applicants will be notified of the rate qualified for within the stated range.

Student Loan

Fixed interest rates range from APR (with auto debit discount) to APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. The fixed interest rate will remain the same for the life of the loan.

Variable interest rates range from APR (with auto debit discount) to APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. Variable rates may increase after consummation. Variable rates for Nelnet Bank Student Loans are calculated using either (a) the One-Month SOFR; (b) the 30-day Average SOFR; or (c) the forward-looking term rate based on SOFR as published by the Federal Reserve Bank of New York and/or The Wall Street Journal “Money Rates” table on the twenty-fifth day (or the next business day) of the immediately preceding calendar month. The variable rate may reprice and change on the first day of each month if the SOFR index changes. This may result in higher monthly payments. The current One-Month SOFR index is as of .

The lowest interest rate for each loan type requires automatically withdrawn (“auto debit”) payments. The lowest rate is available only to the most creditworthy applicants. Not all borrowers will receive the lowest rate. The interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the credit history of the borrower and, if applicable, the cosigner, (2) the repayment option and loan term selected, and (3) the loan type selected. If approved, applicants will be notified of the rate qualified for within the stated range.

Parent Loan

Fixed interest rates range from APR (with auto debit discount) to APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. The fixed interest rate will remain the same for the life of the loan.

Variable interest rates range from APR (with auto debit discount) to APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. Variable rates may increase after consummation. Variable rates for Nelnet Bank Student Loans are calculated using either (a) the One-Month SOFR; (b) the 30-day Average SOFR; or (c) the forward-looking term rate based on SOFR as published by the Federal Reserve Bank of New York and/or The Wall Street Journal “Money Rates” table on the twenty-fifth day (or the next business day) of the immediately preceding calendar month. The variable rate may reprice and change on the first day of each month if the SOFR index changes. This may result in higher monthly payments. The current One-Month SOFR index is as of .

The lowest interest rate for each loan type requires automatically withdrawn (“auto debit”) payments. The lowest rate is available only to the most creditworthy applicants. Not all borrowers will receive the lowest rate. The interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the credit history of the borrower and, if applicable, the cosigner, (2) the loan term selected, and (3) the loan type selected. If approved, applicants will be notified of the rate qualified for within the stated range.

2. Credit Score

Checking your rate results in a soft credit pull, which will not affect your credit score. If you continue with your application, Nelnet Bank will request your permission to obtain your full credit report from one or more consumer reporting agencies. This is a hard credit pull and may affect your credit score.

3. Auto Debit

Student Loan: Interest rate reduction of .25% for automatically withdrawn payments from any designated bank account (“auto debit discount”). Auto debit discount applies when full payments (including both principal and interest), interest only and fixed pay are automatically drafted from a bank account. The auto debit discount will continue to apply during periods of approved forbearance or deferment if the auto debit discount was in effect at the time of receiving the forbearance or deferment. Auto debit discount will remain on the account unless (1) the automatic deduction of payments is canceled or (2) there are three consecutive automatic deductions returned for insufficient funds at any time during the term of the loan.

Refinance Loan: Interest rate reduction of .25% for automatically withdrawn payments from any designated bank
account (“auto debit discount”). Auto debit discount applies when full payments (including both principal and interest)
are automatically drafted from a bank account. The auto debit discount will continue to apply during periods of
approved forbearance or deferment if the auto debit discount was in effect at the time of receiving the forbearance or
deferment. Auto debit discount will remain on the account unless (1) the automatic deduction of payments is canceled
or (2) there are three consecutive automatic deductions returned for insufficient funds at any time during the term of
the loan.

Parent Loan: Interest rate reduction of .25% for automatically withdrawn payments from any designated bank account (“auto debit discount”). Auto debit discount applies when full payments (including both principal and interest) are automatically drafted from a bank account. The auto debit discount will continue to apply during periods of approved forbearance if the auto debit discount was in effect at the time of receiving the forbearance. Auto debit discount will remain on the account unless (1) the automatic deduction of payments is canceled or (2) there are three consecutive automatic deductions returned for insufficient funds at any time during the term of the loan.

4. Cosigner Release

Student Loan
A request for the cosigner to be released can be made by either the borrower or cosigner when each of the following conditions has been met:

• The account must have been in full principal and interest repayment for at least 24 months.
• Twenty-four consecutive, on-time principal and interest payments, or lump sum equivalent, must have been made.

  NOTE: A lump sum payment does not replace the requirement to have been in full principal and interest repayment for at least 24 months. Interest-only or fixed-pay payments while enrolled in school do not qualify towards the 24 consecutive on-time payments.

• The loan must be current at the time of request.
• The loan must not have been in deferment, hardship forbearance, or other alternative payment assistance plan within the past 24 months.
• The loan must not have been permanently modified from its original terms in the credit agreement.
• The primary borrower must be a U.S. citizen or have permanent residency in the United States.
• The primary borrower must be of sufficient age to enter a binding contract in their state of residence or territory.
• Requirements are subject to change.

If all of these conditions have been met, then an application for cosigner release may be submitted. The primary borrower is required to demonstrate they have the ability to assume sole responsibility for the loan(s) by providing proof of income, meeting debt-to-income requirements, and having a satisfactory credit history. (A credit report will be obtained during the review process).

If you have questions on cosigner release, or would like to apply, contact us via email or phone at Loans@NelnetBank.com or 800.446.4190.

Refinance Loan
A request for the cosigner to be released can be made by either the borrower or cosigner when each of the following conditions has been met:

• The account must have been in full principal and interest repayment for at least 24 months.
• Twenty-four consecutive, on-time principal and interest payments, or lump sum equivalent, must have been made.

  NOTE: A lump sum payment does not replace the requirement to have been in full principal and interest repayment for at least 24 months. Interest-only or fixed-pay payments while enrolled in school do not qualify towards the 24 consecutive on-time payments.

• The loan must be current at the time of request.
• The loan must not have been in deferment, hardship forbearance, or other alternative payment assistance plan within the past 24 months.
• The loan must not have been permanently modified from its original terms in the credit agreement.
• The primary borrower must be a U.S. citizen or have permanent residency in the United States.
• The primary borrower must be 18 years old, or 21 years old in Puerto Rico.
• Requirements are subject to change.

If all of these conditions have been met, then an application for cosigner release may be submitted. The primary
borrower is required to demonstrate they have the ability to assume sole responsibility for the loan(s) by providing
proof of income and meeting credit requirements. (A credit report will be obtained during the review process).

If you have questions on cosigner release, or would like to apply, contact us via email or phone at Loans@NelnetBank.com or 800.446.4190.

Parent Loan
A request for the cosigner to be released can be made by either the borrower or cosigner when each of the following conditions has been met:

• The account must have been in full principal and interest repayment for at least 24 months.
• Twenty-four consecutive, on-time principal and interest payments, or lump sum equivalent, must have been made.

  NOTE: A lump sum payment does not replace the requirement to have been in full principal and interest repayment for at least 24 months.

• The loan must be current at the time of request.
• The loan must not have been in hardship forbearance or other alternative payment assistance plan within the past 24 months.
• The loan must not have been permanently modified from its original terms in the credit agreement.
• The primary borrower must be a U.S. citizen or have permanent residency in the United States.
• The primary borrower must be of sufficient age to enter a binding contract in their state of residence or territory.
• Requirements are subject to change.

If all of these conditions have been met, then an application for cosigner release may be submitted. The primary borrower is required to demonstrate they have the ability to assume sole responsibility for the loan(s) by providing proof of income, meeting debt-to-income requirements, and having a satisfactory credit history. (A credit report will be obtained during the review process).

If you have questions on cosigner release, or would like to apply, contact us via email or phone at Loans@NelnetBank.com or 800.446.4190.

5. Payment Assistance Programs

Nelnet Bank offers various payment assistance programs to assist you if you are currently struggling to make payments. Contact us at Loans@NelnetBank.com or 800.446.4190 to get more information.

6. Loan Eligibility

Refinance Loan Eligibility: You must be a U.S. citizen or permanent resident alien with a valid U.S. Social Security number. All applicants must be the legal age to enter into binding contracts in their state of residence or territory. Non-residents can apply with an eligible cosigner who is a U.S. citizen or permanent resident alien with a valid U.S. Social Security number. You must have at least $5,000 in student loans to refinance. You, or your cosigner, must meet Nelnet Bank’s creditworthiness requirements. Approval subject to credit review. Other credit criteria may apply.

Refinance Loan Amounts*:

• Minimum loan amount: $5,000
• Maximum loan amount:
  • $125,000 for borrowers with an undergraduate degree.
  • $175,000 for borrowers with a graduate or doctorate degree.
  • $175,000 for borrowers with an MBA or graduate law degree.
  • $500,000 for borrowers with a graduate health professions degree.

  *Maximum loan amounts are subject to limits on total student loan debt

Loan Refinancing Risks: Federal student loans include benefits that may not be offered with private student loans. Carefully review any potential benefits that may be lost by refinancing federal and private education loans, such as the loss of any remaining grace periods. Learn more about what to take into consideration when refinancing federal student loans with private education loans.

Student Loan Eligibility: You must be a U.S. citizen or permanent resident alien with a valid U.S. Social Security number. All applicants must be the legal age to enter into binding contracts in their state of residence or territory. Applicants may be 16 or 17 years old with a qualified cosigner. Non-residents can apply with an eligible cosigner who is a U.S. citizen or permanent resident alien with a valid U.S. Social Security number. Student must be enrolled at least half-time at a Title IV program at an eligible school. You must not have defaulted on any student loan. Approval subject to credit review. Other credit criteria may apply.

Undergraduate Loan Amounts*:

• Minimum loan amount: $1,000
• Maximum loan amount: $125,000

Graduate Loan Amounts*:

• Minimum loan amount: $1,000
• Maximum Loan amount:
  • Graduate or doctorate degree: $175,000
  • MBA or graduate law degree: $175,000
  • Graduate health professions degree: $500,000

  *Maximum loan amounts are subject to limits on total student loan debt

Parent Loan Eligibility: You must be a U.S. citizen or permanent resident alien with a valid U.S. Social Security number. The student cannot be the borrower or cosigner. All applicants must be the legal age to enter into binding contracts in their state of residence or territory. Benefiting student must be enrolled at least half-time at a Title IV program at an eligible school. You must not have defaulted on any student loan. Approval subject to credit review. Other credit criteria may apply.

Undergraduate Loan Amounts*:

• Minimum loan amount: $1,000
• Maximum loan amount: $125,000

Graduate Loan Amounts*:

• Minimum loan amount: $1,000
• Maximum Loan amount:
  • Graduate or doctorate degree: $175,000
  • MBA or graduate law degree: $175,000
  • Graduate health professions degree: $500,000

  *Maximum loan amounts are subject to limits on total student loan debt

ELIGIBILITY DISCLOSURES

Student Lending Eligibility Criteria: Applicants must be a U.S. citizen, permanent resident, or eligible non-citizen with a creditworthy U.S. citizen or permanent resident co-signer. For applicants who have not attained the age of majority in their state of residence, a co-signer is required. Citizens reserves the right to modify eligibility criteria at any time. Citizens private student loans are subject to credit qualification, completion of a loan application/Promissory Note, verification of application information, and if applicable, self-certification form, school certification of the loan amount, and student’s enrollment at a Citizens participating school.

Education Refinance Loan Eligibility: Applicants must have attained a bachelor’s degree or higher to refinance their loan.

Education Refinance Loan for Medical Residency Eligibility: Applicants must have graduated from medical school and be matched to a MD, DO, DDS, DMD, DPM, DVM, VMD, PharmD, OD residency or fellowship program at the time of application.

Education Refinance Loan for Parents Eligibility: The primary applicant must be the primary borrower or co-signer on the loan to be refinanced.

Student Loan Eligibility: Applicants must be enrolled at least half-time in a degree-granting program at an eligible institution.

Student Loan for Parents Eligibility: The student whose education expenses will be paid for with the loan proceeds must be a U.S. citizen or permanent resident and must be enrolled at least half-time in a degree granting program at a Citizens-participating school.

RATE DISCLOSURES

Variable Rate Disclosure: Variable interest rates are based on the 30-day average Secured Overnight Financing Rate (“SOFR”) index, as published by the Federal Reserve Bank of New York. As of Apr 01, 2025, the 30-day average SOFR index is 4.33%. Variable interest rates will fluctuate over the term of the loan with changes in the SOFR index, and will vary based on applicable terms, level of degree and presence of a co-signer. The maximum variable interest rate is the greater of 21.00% or the prime rate plus 9.00%.

Fixed Rate Disclosure: Fixed rate ranges are based on applicable terms, level of degree, and presence of a co-signer.

Lowest Rate Disclosure:Lowest rates are only available for the most creditworthy applicants, require a 5-year repayment term, include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, and repayment type selection of Interest-Only on In-School Loans and Immediate Repayment on Education Refinance Loans. Rates are subject to additional terms and conditions and are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.

Education Refinance Loan Rate Disclosure: Variable interest rates range from 6.15% - 12.34% (6.16% - 12.35% APR). Fixed interest rates range from 5.89% - 11.37% (5.90% - 11.38% APR).

Medical Residency Refinance Loan Rate Disclosure: Variable interest rates range from 6.15% - 11.90% (6.16% - 11.91% APR). Fixed interest rates range from 5.89% - 10.93% (5.89%- 10.94% APR).

Education Refinance Loan for Parents Rate Disclosure: Variable interest rates range from 7.20% - 11.96% (7.21% - 11.97% APR). Fixed interest rates range from 6.44% - 10.98% (6.45% - 10.99% APR).

Student Loan Rate Disclosure:Variable interest rates range from 4.97% - 15.58% (4.97% - 15.59% APR). Fixed interest rates range from 3.99% - 15.60% (3.99% - 15.61% APR).

Undergraduate Loan Rate Disclosure:Variable interest rates range from 4.97% - 15.58% (4.97% - 15.59% APR). Fixed interest rates range from 3.99% - 15.60% (3.99% - 15.61% APR).

Graduate Loan Rate Disclosure:Variable interest rates range from 4.97% - 14.08% (4.97% - 14.09% APR). Fixed interest rates range from 4.24% - 14.10% (4.24% - 14.11% APR).

Business/Law Loan Rate Disclosure:Variable interest rates range from 4.97% - 14.08% (4.97% - 14.09% APR). Fixed interest rates range from 4.24% - 14.10% (4.24% - 14.11% APR).

Medical/Dental Loan Rate Disclosure: Variable interest rates range from 4.97% - 12.77% (4.97% - 12.40% APR). Fixed interest rates range from 4.24% - 12.39% (4.24% - 12.32% APR).

Parent Loan Rate Disclosure: Variable interest rates range from 5.99% - 9.60% (5.99% - 9.61% APR). Fixed interest rates range from 5.99% - 10.60% (5.99% - 10.61% APR).

STUDENT LENDING PROGRAM DISCLOSURES

Wireless Charges: Wireless carrier, text, and/or data charges may apply.

Loyalty Discount: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower or their co-signer (if applicable) has a qualifying account in existence with us at the time the borrower and their co-signer (if applicable) have submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: personal checking, personal savings, personal credit card or previous student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DC, DE, FL, MA, MD, MI, NH, NJ, NY, OH, PA, RI, VA, and VT and some products may have an associated cost. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.

Investors Bancorp, Inc. Loyalty Discount: To receive the Loyalty Discount for having a qualifying account with Investors Bancorp, Inc., borrowers must contact Citizens by telephone prior to signing the promissory note. Student loan borrowers please call (877) 291-6385 and education refinance borrowers please call (888) 411-2413.

Automatic Payment Discount: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount.

Get My Rate: Selecting “Get My Rate” only requires a “soft credit pull“ which does not affect your credit score. Submitting a full application will result in an inquiry on your credit report.

Multi-Year Approval: Funds available for future use are subject to a soft credit inquiry at time of your next request to verify continued eligibility. After we make the initial Loan to you, you must continue to meet eligibility criteria to obtain additional funds under the Multi-Year Approval feature. Terms and conditions are outlined in the promissory note. Multi-Year Approval borrowers have a 99% approval rate on future requests for additional funds. The additional funds approval rate is based on the percentage of approved Multi-Year borrowers from Citizens between October 1, 2023 and October 1, 2024. The approval rate represents only borrowers who had previously accepted the Multi-Year Approval offer. Please Note: International students are not eligible for Multi-Year Approval.

Co-signer Release: Borrowers may apply for co-signer release after making 36 consecutive on-time payments of principal and interest. For the purpose of the application for co-signer release, on-time payments are defined as payments received within 15 days of the due date. Interest only payments do not qualify. The borrower must meet certain credit and eligibility guidelines when applying for the co-signer release. Borrowers must complete an application for release and provide income verification documents as part of the review. Borrowers who use deferment or forbearance will need to make 36 consecutive on-time payments after reentering repayment to qualify for release. The borrower applying for co-signer release must be a U.S. citizen or permanent resident. If an application for co-signer release is denied, the borrower may not reapply for co-signer release until at least one year from the date the application for co-signer release was received. Terms and conditions apply. Borrowers whose loans were funded prior to reaching the age of majority may not be eligible for co-signer release. Note: co-signer release is not available on the Student Loan for Parents or Education Refinance Loan for Parents. 98% of Citizens Undergrad Booked Loans from 6/1/24 through 9/30/24 were cosigned. Citizens Undergraduate Booked Loans from 10/1/2023 through 9/30/2024 were 4 times more likely to be approved with a qualified cosigner.​

Student Loan Aggregate Limits: You may borrow up to the maximum qualified loan amount or the total cost of education, whichever is lower. Our student loan does have lifetime aggregate limits (including both federal and private loan debt) of: Undergraduate Degree: $225,000, Graduate Degrees: $225,000, MBA and Law: $300,000, Healthcare: $250,000 or $400,000 depending on your degree (Aggregate limits up to $400,000 for MD, DMD/DDS, OD, DO, DPM, PharmD, and DVM degrees. Aggregate limits up to $250,000 for cardiac perfusion, chiropractic, cytotechnology, nurse practitioner, occupational therapy, physical therapy, and physician assistant degree).

Employer & Organizational Partnerships: To qualify for the principal balance reduction, the borrower or co-signer (if applicable) must have applied, be approved, and disburse a Citizens Education Refinance Loan, Education Refinance Loan for Parents, or a Medical Residency Refinance Loan through the employer’s dedicated Citizens website. The principal balance reduction will be calculated as 1% of the amount financed with a maximum of $1,000. The loan must be in good standing at the time the Principal Balance Reduction Benefit is applied. Only one Principal Balance Reduction Benefit is allowed per borrower. If you receive a Principal Balance Reduction Benefit on a Citizens Student Loan or Student Loan for Parents you will not be eligible for another Principal Balance Reduction Benefit on a Citizens Education Refinance Loan, Education Refinance Loan for Parents or a Medical Residency Refinance Loan. Principal balance reduction will be applied with an effective date equal to the loan’s first disbursement date. Principal balance reduction may take up to the second month following the loan’s final disbursement date to be applied and may be reduced if the loan amount is reduced or cancelled. The Principal Balance Reduction Benefit will be processed as a reduction of the loan’s principal balance and will not impact the required monthly payment. The borrower is solely responsible for any taxes that may be owed as a result of the principal balance reduction earned. A tax advisor should be consulted. Citizens Bank, N.A. does not provide tax advice. Offer cannot be combined with other promotions, discounts or offers – automatic payment and loyalty discounts excluded. Citizens reserves the right to modify these terms or cancel this offer at any point in the future for new applications.

Federal Loan vs. Private Loan Benefits: Some federal student loans include unique benefits that the borrower may not receive with a private student loan, some of which we do not offer. Borrowers should carefully review federal benefits, especially if they work in public service, are in the military, are considering possible loan forgiveness options, are currently on or considering income based repayment options or are concerned about a steady source of future income and would want to lower their payments at some time in the future. When the borrower refinances, they waive any current and potential future benefits of their federal loans. For more information about federal student loan benefits and federal loan consolidation, visit https://studentaid.gov/. We also have several resources available to help the borrower make a decision on our website including Should I Refinance My Student Loans? and our FAQs. Should I Refinance My Student Loans? includes a comparison of federal and private student loan benefits that we encourage the borrower to review.

U.S. Dept. of Education Fee: The Federal Direct PLUS Loan fee is a percentage of the loan amount and is proportionately deducted from each loan disbursement. For Loans first disbursed between October 1, 2020 and before October 1, 2025 the origination fee is 4.228%.

Student Loan Repayment: Student borrowers can make full payments or pay interest only while in school or defer payments until after graduation (interest continues to accrue during deferment periods).

Medical Residency Refinance Loan Repayment Example with $100 Monthly Payment: Based on a 48 month residency, a fixed rate 5 year loan for $10,000 at 6.85% APR results in 53 monthly payments of $100 (includes residency period and 6-month grace period), followed by 60 monthly payments of $145.09. $100 monthly payment begins immediately after loan disbursement for the duration of the residency or fellow program period up to 48 months, plus 6 month grace period.

Citizens Scholarship: (For Sweepstakes Period: 07/01/2024-03/31/2025) No purchase necessary. Void where prohibited. The Citizens Scholarship Sweepstakes is open to legal residents of the 50 United States, D.C., and U.S. Territories, who are 16 years of age or older, are students, or prospective students, or parents or legal guardians of students intending to enroll or enrolled at least half-time in an accredited undergraduate/graduate post-secondary institution. To be eligible for a chance to win the Citizens Building the Workforce of the Future Scholarship entrants must be from an underrepresented or a low-income community as described in the Official Rules. Sweepstakes begins at 12:00 AM ET on 7/1/24 and ends at 11:59 PM ET on 3/31/25. Sponsored by Citizens. See Official Rules for details.

Citizens Student Credit Builder™: Citizens Student Credit Builder™ refers to loans with either an Immediate or Interest Only repayment option chosen at the time the loan is originated. Credit scores are based on established borrower payment behaviors. By choosing a loan repayment option that requires payment while the student is in school, the borrower begins their history of payments earlier than a corresponding borrower that chooses a deferred repayment option. Additionally, an equally qualified borrower and/or cosigner with similar loan terms will receive a lower interest rate with an Immediate or Interest Only repayment option.

SAVINGS DISCLOSURES

Education Refinance Loan Average Monthly Payment Savings: The average monthly and annual payment savings estimated amount is based on 2,543 Citizens Education Refinance Loan customers who refinanced their loans between March 1, 2024 and March 1, 2025 and who received a lower payment. The calculation is derived by averaging the monthly payments prior to refinancing minus the monthly payments after refinancing. Excluded are monthly savings reported from customers that exceeded $9,375 or were lower than $20 to minimize risk of data error skewing the savings amounts. Savings vary based on interest rates, balances and remaining repayment term of loans to be refinanced. Your overall repayment amount may be higher than the loans you are refinancing even if your monthly payments are lower.

Education Refinance Loan Weighted Average Interest Rate Savings: Weighted average interest rate savings is based on 2,566 Citizens Education Refinance Loan customers who lowered their interest rate on loans between March 1, 2024 and March 1, 2025. The calculation is derived by averaging the rate savings across Citizens Education Refinance Loan customers whose interest rates decreased after refinancing, calculated by taking the weighted average interest rate prior to refinancing minus the interest rate after refinancing. We excluded rate savings from customers that exceeded 15.11% and were lower than 0.25% to minimize risk of data error skewing the rate savings amounts. Your interest rate savings might vary based on the interest rates you qualify for, chosen terms and previous interest rate of the loans you are seeking to refinance. Your overall interest rate may be higher than the interest rate on the loans you are refinancing even if your monthly payments are lower.

Parent Loan Savings: Origination fee savings of $771 are calculated using the Federal Direct Plus Loan origination fee of 4.228% (for loans first disbursed between 10/1/24 and 9/30/25) and an average amount financed of $18,247 as compared to the Citizens Student Loan for Parents, which has no origination fees.

Graduate Loan Savings: Origination fee savings of $865 are calculated using the Federal Direct Plus Loan origination fee of 4.228% (for loans first disbursed between 10/1/24 and 9/30/25) and an average amount financed of $20,480 as compared to the Citizens Student Loan, which has no origination fees.

APPLICATION & SOLICITATION DISCLOSURES

Citizens Student Loan™ for Students - 5, 10, 15 Year Application Solicitation Disclosure

Citizens Student Loan™ for Parents - 5, 10 Year Application Solicitation Disclosure

Citizens Education Refinance Loan™ 20 Year Prescreened Application & Solicitation Disclosure

Citizens Education Refinance Loan™ 20 Year Prequalified Application & Solicitation Disclosure

Additional Application Solicitation Disclosures may be obtained by calling the Customer Service Team at (877) 464-6329 and copies of the disclosures will be provided via email. Our hours are Monday through Friday, 8:00am - 9:00pm EST.

Smart Option Student Loan® for Undergraduate Students and graduate loans

The Private Student Loan comparison chart displays combined APRs and loan terms for our loan products. See below for APR ranges and the loan terms for each loan product.

Lowest rates shown include the auto debit discount.

Undergraduate loan: Variable rates: 4.54% - 14.71% APR and Fixed rates: 3.49% – 15.99% APR with the loan term of 10-15 years. Lowest rates shown include the auto debit discount.

Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.

Graduate and MBA loans: Variable rates: 4.54% - 13.98% APR and Fixed rates: 3.49% – 14.48% APR with the loan term of 15 years. Lowest rates shown include the auto debit discount.

Advertised APRs for Graduate School Loan and MBA Loans assume a $10,000 loan with a 2-year in-school period. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.

Medical loan: Variable rates: 4.54% - 13.96% APR and Fixed rates: 3.49% - 14.46% APR with the loan term of 20 years. Lowest rates shown include the auto debit discount.

Advertised APRs for Medical School Loan assume a $10,000 loan with a 4-year in-school period. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.

Law loan: Variable rates: 4.54% - 13.97% APR and Fixed rates: 3.49% - 14.47% APR with the loan term of 15 years. Lowest rates shown include the auto debit discount.

Advertised APRs for Law School Loan assume a $10,000 loan with a 3-year in-school period. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.

Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note—first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.

Only the borrower may apply for cosigner release. To do so, they must first meet the age of majority in their state and provide proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if their status has changed since they applied). In the last 12 months, the borrower can’t have been past due on any loans serviced by Sallie Mae for 30 or more days or enrolled in any hardship forbearances or modified repayment programs. In addition, the borrower must have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. The loan can’t be past due when the cosigner release application is processed. The borrower must also demonstrate the ability to assume full responsibility of the loan(s) individually and pass a credit review when the cosigner release application is processed that demonstrates a satisfactory credit history including but not limited to no: bankruptcy, foreclosure, student loan(s) in default or 90-day delinquencies in the last 24 months. Requirements are subject to change.

For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time.

3 repayment options: Deferred payment; $25 Fixed repayment; Interest repayment:

Smart Option Student Loan: Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.

Graduate Loan: Example of a typical transaction for a $10,000 Graduate School Loan with the most common fixed rate, Fixed Repayment Option, and two disbursements. For borrowers with a 27-month in-school and separation period, it works out to 14.30% fixed APR, 27 payments of $25.00, 178 payments of $172.22 and one payment of $115.59, for a total loan cost of $31,445.75. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. A variable APR may increase over the life of the loan. A fixed APR will not.

Medical Loan: Example of a typical transaction for a $10,000 Medical School Loan with the most common fixed rate, Fixed Repayment Option, and two disbursements. For borrowers with a 81- month in-school and separation period, it works out to 10.13% fixed APR, 81 payments of $25.00, 238 payments of $161.86 and one payment of $97.02, for a total loan cost of $40,644.70. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 20 years. A variable APR may increase over the life of the loan. A fixed APR will not.

Law Loan: Example of a typical transaction for a $10,000 Law School Loan with the most common fixed rate, Fixed Repayment Option, and two disbursements. For borrowers with a 42-month in-school and separation period, it works out to 10.77% fixed APR, 42 payments of $25.00, 179 payments of $146.82 and one payment of $65.13, for a total loan cost of $27,395.91. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. A variable APR may increase over the life of the loan. A fixed APR will not.

MBA Loan: Example of a typical transaction for a $10,000 MBA Loan with the most common fixed rate, Fixed Repayment Option, and two disbursements. For borrowers with a 27-month in-school and separation period, it works out to 14.30% fixed APR, 27 payments of $25.00, 178 payments of $172.22 and one payment of $115.59, for a total loan cost of $31,445.75. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. A variable APR may increase over the life of the loan. A fixed APR will not.

Borrow responsibly

We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident), and provide an unexpired government-issued photo ID. Requested loan amount must be at least $1,000.

Graduate School Loan and Graduate School Loan for Health Professions are for graduate students at participating degree-granting schools and are subject to credit approval, identity verification, signed loan documents, and school certification. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident), and provide an unexpired government-issued photo ID. Requested loan amount must be at least $1,000.

Medical School Loans are for graduate students in an M.D., D.O., D.V.M., V.M.D., or D.P.M. program at participating degree-granting schools and are subject to credit approval, identity verification, signed loan documents, and school certification. Graduate Certificate/Continuing Education coursework is not eligible. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident), and provide an unexpired government-issued photo ID. Requested loan amount must be at least $1,000.

Law School Loans are for graduate students in a J.D. or L.L.M. program at participating degree-granting schools and are subject to credit approval, identity verification, signed loan documents, and school certification. Graduate Certificate/Continuing Education coursework is not eligible. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident), and provide an unexpired government-issued photo ID. Requested loan amount must be at least $1,000.

MBA Loans are for graduate students in an M.B.A. program at participating degree-granting schools and are subject to credit approval, identity verification, signed loan documents, and school certification. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident), and provide an unexpired government-issued photo ID. Requested loan amount must be at least $1,000.

Information advertised valid as of 04/17/2025.

SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks if Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners.

Credible is not the creditor for these loans and is compensated by Sallie Mae for the referral of Sallie Mae loan customers.

Interest Rates & Fees

Loan Fees & Example

Application Fee: $0

Origination Fee: 0%

Loan Guarantee Fee: 0%

Prepayment Fee: 0%

Late Charge: the lesser of 5% of the past due amount or $50

Returned Check or Insufficient Funds Charge: $30

Federal Loan Alternatives and Disclosure Regarding Benefits

Next Steps

Find out about other options.

The Federal Direct Consolidation Loan may have student loan benefits and terms not detailed on this form. Visit the Department of Education’s website at https://studentaid.gov for more information about other consolidation loans.

To apply for this loan, complete the application.

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

Your interest rate will depend on the loan term that you select.

Interest rates are valid within the preceding 30 days.

Immediate

Fixed

Interest Only

Deferred

All loans are subject to credit approval.

Must be a U.S. citizen or permanent resident alien without conditions and with proper evidence of eligibility.

Must be at the age of majority or older at the time of loan application.

Must reside in a state in which ELFI is authorized to lend.

A cosigner is not required but may help you qualify and/or receive a lower rate.

Must be an eligible student enrolled at least half-time at a post-secondary educational institution.

SOUTHEAST BANK RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.

Terms & Disclosures

Custom Choice Student Loan Disclosures

Before applying for a private student loan, Citizens and Monogram recommend exhausting all financial aid alternatives including grants, scholarships, and federal student loans.

The Custom Choice Loan® is made by Citizens (“Lender”). All loans are subject to individual approval and adherence to Lender’s underwriting guidelines. Program restrictions and other terms and conditions apply. LENDER AND MONOGRAM LLC EACH RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. TERMS, CONDITIONS AND RATES ARE SUBJECT TO CHANGE AT ANY TIME WITHOUT NOTICE.

Interest rates and APRs (Annual Percentage Rates) depend upon (1) the student’s and cosigner’s (if applicable) credit histories, (2) the repayment option and repayment term selected, (3) the expected number of years in deferment, (4) the requested loan amount and (5) other information provided on the online loan application. If approved, applicants will be notified of the rate applicable to your loan. Rates and terms are effective as of 4/1/25. The variable interest rate for each calendar month is calculated by adding 30-Day Average Secured Overnight Financing Rate (“SOFR”) index, or a replacement index if the SOFR index is no longer available, plus a fixed margin assigned to each loan. The SOFR index is published on the website of the Federal Reserve Bank of New York. The current SOFR index is 4.33% as of 4/1/25. The applicable index or margin for variable rate loans may change over time if the SOFR index changes or if a new index is chosen, and result in a different APR than shown. The fixed rate and APR assigned to a loan will never change except as required by law or if you request and qualify for the auto pay discount. The APR typically differs from the interest rate since it accounts for fees, the rate, length of the loan and the timing of all payments and reflects the cost as a yearly rate.

APRs displayed as a range in the rate table assume a $10,000 loan with one disbursement. The high fixed rate APR assumes a 7-year term with the Flat Payment Repayment option, a 1 month deferment period, and a six month grace period before entering repayment. The high variable rate APR assume a 7-year term with the Fully Deferred Repayment option, a deferment period greater than 30 months, and a six-month grace period before entering repayment. The low APRs assume a 7-year term, and the Immediate Repayment option with payments beginning 30-60 days after the disbursement via auto pay (see auto pay details in Discounts footnote below).

Loan Terms: The 15-year term is only available for loan amounts of $5,000 or more. Certain repayment terms and/or options may not be available depending on the applicant’s debt-to-income ratio. Payment examples (all assume a 14-month deferment period, a six-month grace period before entering repayment, no rate reduction for auto pay and the Interest Only Repayment option): 7-year term: $10,000 loan, one disbursement, with a 7-year repayment term (84 months), and 9.53% APR would result in a monthly principal and interest payment of $163.59. 10-year term: $10,000 loan, one disbursement, with a 10-year repayment term (120 months) and 9.25% APR would result in a monthly principal and interest payment of $128.03. 15-year term: $10,000 loan, one disbursement, with a 15-year repayment term (180 months) and 9.18% APR would result in a monthly principal and interest payment of $102.50.

Loan Amounts: The minimum loan amount is $1,000 except for student applicants who are permanent residents of Iowa in which case the minimum loan amount is $1,001. The maximum annual loan amount to cover in-school expenses for each academic year is determined by the school’s cost of attendance, minus other financial aid, such as federal student loans, scholarships, or grants, up to $99,999 annually. The loan amount must be certified by the school. The loan amount cannot cause the aggregate maximum student loan debt (which includes federal and private student loans) to exceed $180,000 per applicant (on cosigned applications, separate calculations are performed for the student and cosigner).

Monthly Payment During School: This is the estimated monthly payment that will be made during the time you remain enrolled at the level of attendance your school certifies, subject to the initial deferment period maximum of 66 months from the first disbursement date. Immediate Repayment: Starting 30-60 days after your first disbursement date the first monthly payment of principal and interest will be due. The monthly payments of principal and interest will be generally stable for twelve months and will be recalculated once each year and reset annually on the anniversary of your most recent repayment start date so as to pay the loan in full over the remaining repayment period. Full Deferment: Principal and interest payments will be deferred from your first disbursement date through your initial deferment period end date. Starting 30-60 days after the initial deferment period, the first monthly payments of principal and interest will be due unless you qualify for and request an additional type of deferment. Interest Only Repayment: Principal payments will be deferred from your first disbursement date through your initial deferment period end date. Starting 30-60 days after your first disbursement date you will pay interest-only monthly payments that are equal to the accrued interest on the outstanding principal balance throughout the initial deferment period. Flat Payment Repayment during school: Principal payments will be deferred from your first disbursement date through your initial deferment period end date. Starting 30-60 days after your first disbursement date you will pay a minimum amount of $25 in interest per month through your initial deferment period end date. For all repayment options, any accrued and unpaid interest (interest that is in excess of the amount paid each month) will be added to the outstanding principal balance and may be capitalized at the beginning of your repayment period.

Monthly Payment After Graduation: Immediate Repayment: This is the estimated combined monthly principal and interest payment amount following the final disbursement of your loan The monthly payment amount shown in the estimate will increase or decrease if the interest rate increases or decreases and will be computed based on the interest rate applicable at the time repayment begins. Your monthly payment amount may also be recalculated (a) after any deferment or forbearance period, (b) after you ask the servicer to change the monthly payment due date or (c) if the minimum monthly payment is not enough to cover the interest accrued during that month. Full Deferment, Interest Only Repayment and Flat Payment during school: The Estimated Monthly Payment after Graduation is the combined principal and interest payment amount following the initial deferment period. The first year of principal and interest repayment generally has the same monthly payment each month. After the first year of principal and interest payments, monthly payment amounts are recalculated once each year and reset annually on the anniversary of your most recent repayment start date so as to pay the loan in full over the remaining repayment period. The monthly payment amount shown in the estimate will increase or decrease if the interest rate increases or decreases and will be computed based on the interest rate applicable at the time repayment begins. Your monthly payment amount may also be recalculated (a) after any deferment or forbearance period, (b) after you ask the servicer to change the monthly payment due date, or (c) if the minimum monthly payment is not enough to cover the interest accrued during that month. For all repayment options, the minimum monthly payments of your loan’s combined principal and interest will be at least $50.

Graduation Reward: The principal reduction is based on the total dollar amount of all disbursements made, excluding any amounts that are reduced, canceled, or returned. To receive this principal reduction, it must be requested from the Servicer, the student borrower must have earned a bachelor’s degree or higher and proof of such graduation must be provided to the Servicer. This reward is available once during the life of the loan, regardless of whether the student receives more than one degree.

Cosigner Release: A cosigner may be released from the loan upon request to the Servicer, provided that the student borrower has met certain credit and other criteria, and 36 consecutive monthly principal and interest payments have been received by the Servicer within 10 calendar days after their due date. Late payment(s), or the use of a deferment or forbearance will reset the number of consecutive principal and interest payments to zero. Use of an approved reduced repayment plan will disqualify the loan from being eligible for this benefit.

Discounts: Auto Pay yields a 0.25% interest rate reduction for making automatic payments of principal and interest from a bank account (“auto pay discount”) by completing the direct debit form provided by the Servicer. The auto pay discount will be applied after the Servicer validates your bank account information. Automatic payments and the associated discount will be temporarily discontinued (1) if you elect to stop automatic deduction of payments and (2) during periods when you are not required to make payments. The discount will be permanently discontinued in the event three automatic deductions are returned by the financial institution for any reason. The auto pay discount is not available when reduced payments are being made or when the loan is in a deferment. Please note that if the discount filter in the Offer Dashboard is turned “on”, the interest rate and APR estimates quoted on the Offer Dashboard will include the auto pay discount. The auto pay discount will not be reflected in the contract or disclosures you receive from the Lender because you must request and qualify for the auto pay discount.

Past Due Balances: Applications may be accepted up to the earlier of (a) twelve calendar months after the Applicant’s academic period end date or (b) twelve calendar months after the Applicant’s graduation date.

Custom Choice Loan® is a registered trademark of Monogram LLC. Monogram LLC (NMLS #2542102) NMLS Consumer Access

INvestEd Student Loan Disclosures

¹These rates are expressed as APR.

Rates shown are for eligible, creditworthy applicants and requires shortest length of repayment and our Automatic Payment discount of 0.25 percentage points. Automatic payments are not required. Annual percentage rates (APR) listed are based on borrowing $10,000 in a single disbursement.

The Fixed rate will not change during the term.

The variable rate is subject to increase after consummation. The maximum variable interest rate is 21.00%. The variable interest rate that is charged to the borrower is reset quarterly, may increase or decrease, and is based on an Index and Margin. That means that your rate could move lower or higher than the rates on this form. The variable rate is based upon the average of the three-month forward term version of the 90-day Secured Overnight Financing Rate (SOFR) published by a source approved by the Alternative Reference Rate Committee (ARRC).

MEFA Student Loan Disclosure

These rates are expressed as APR. The Fixed interest rate will not change during the term. To be eligible for a MEFA Undergraduate Loan, the student must:

1. Be enrolled at least half time in an accredited degree-granting undergraduate program at an eligible non-profit college or university in the United States. If the student is currently enrolled for the current academic year, a student may:

• Borrow a MEFA Loan for the summer session
• Borrow a MEFA Loan to cover a past due balance within the current academic year

2. Maintain satisfactory academic progress as defined by the college or university

All borrowers must be citizens or permanent residents of the United States. MEFA’s private student loans are subject to credit qualification, completion of a loan agreement, self-certification form, school certification of cost of attendance minus estimated financial aid, and student’s enrollment at a MEFA’s participating school.

For Student Deferred Repayment with Co-borrower release option, the co-borrower, non-student may request for a release after 48 consecutive on-time monthly installments and must meet certain credit and eligibility requirements when applying for the release. For the purpose of the co-borrower release application, on-time payments are defined as payments received within 15 days of the due date. Co-borrower must complete an application for release and provide income verification documents as part of the review. Credit and eligibility requirements are subject to change.