2019-2020 Application...If you wish to reapply, you will need to start the application process over...

Dear Student,

The Missouri Scholarship & Loan Foundation (MSLF) and the Higher Education Loan Authority of the State of Missouri (MOHELA) are pleased to offer the Missouri Family Education Loan Program (MOFELP). MOFELP is a private student loan program designed to provide borrowing options for Missouri students who have financial need but may not meet the traditional credit requirements for private loans.

MSLF, the MOFELP lender, is a 501(c) (3) nonprofit organization that was founded in 2010 to provide scholarships and low cost loans to students in the state of Missouri. MSLF is focused on helping Missouri students and families obtain a higher education. MOHELA is the servicer for MOFELP loans.

The funds for MOFELP are limited for each academic year and are available on a first come, first served basis. These funds, while available, will be used to make interest free MOFELP loans to students attending Participating Schools* who meet the eligibility, underwriting and other requirements. These requirements are summarized on the attached MOFELP Summary of Requirements.

Please read all of the enclosed information in its entirety. This is a loan that must be repaid, so make sure you understand the terms of this loan before signing. All required documents must be turned in to your financial aid office. The financial aid office will certify certain information and forward the loan application documents to MOHELA for processing.

We wish you the best in reaching your academic goals. If you have any questions or concerns, please contact us at MOFELP/MOHELA, P.O. Box 4602, Chesterfield, MO 63006-4602, by phone at 800.809.0964, or by email at [email protected]. MOFELP information is also available on our website, mslf.mohela.com.

Sincerely,

MOHELA, servicer for the Missouri Scholarship & Loan Foundation

*See liSt of participating SchoolS on the attached Mofelp SuMMary of requireMentS.

1-2019 V-7

MOFELPMissouri Family Education Loan Program

2019-2020

P.O. Box 4602 ● Chesterfield ● MO ● 63006-4602 800.809.0964 ● [email protected]

Page 1 of 3

Summary of Requirements 2019-2020

The Missouri Family Education Loan Program (“MOFELP”) is a “special purpose credit program” under the Federal Equal Credit Opportunity Act. MOFELP is offered by the Missouri Scholarship and Loan Foundation (“MSLF”), a not-for-profit organization, as defined under section 501(c) of the Internal Revenue Code of 1954, for the benefit of an economically disadvantaged class of persons described in this summary. As participants in a “special purpose credit program,” applicants for MOFELP loans are required to share one or more common characteristics, which are the MOFELP eligibility requirements listed below. In addition to the MOFELP eligibility requirements, applicants are also required to meet the MOFELP underwriting requirements, which are based on creditworthiness of the applicants and any cosigners, as well as certain general MOFELP requirements. As explained in the application instructions, you are required to submit your MOFELP application package to the student financial aid office at the Participating School that you will be attending (see the list of Participating Schools below). The financial aid office will provide information in the designated portions of the application and then submit the application package to MSLF on your behalf. MSLF will then review the application package to determine if it meets the MOFELP general requirements, eligibility requirements and underwriting requirements.

General MOFELP Requirements Requirement of Completed Application. Each application will be given a priority designation based on when the

application is submitted and is complete. In other words, completed MOFELP applications are processed on a first come, first served basis. A completed application includes all of the required documentation in the application package, with all required signatures and information provided. If your application is not complete, it will be denied. You will have to submit a completed application before it will be given a priority designation with regard to other applications to be considered for approval. Funds Limitation. MOFELP has limited funding available, so there may not be enough money in the program to

make loans to all qualified applicants. Funds are allocated for loans to be made to applicants attending each Participating School. For the full listing of Participating Schools, see the list at the end of this Summary of Requirements (the “Participating School list”). The amount of funds for loans to students at each Participating School will be allocated as follows:

For each Participating School on the Participating School list, the amount allocated will be based on the

number of students at the school who receive funding under the Access Missouri Financial Assistance

Program, and the amount will be allocated from MSLF’s primary MOFELP funding source.

The allocations by school will begin July 1 and continue through February 15. From February 16 through

June 30, funds will be distributed on a first come, first served basis.

The first come, first served distributions beginning April 1 will be based on applications from other students

attending Participating Schools. The earlier your completed application is submitted, the greater the chance

that there will be MOFELP funds available.

MOFELP Special Purpose Program Eligibility Requirements. The following are the eligibility requirements for a MOFELP loan.

Student Borrower Requirements. You (the student borrower) must:

Be enrolled on a full-time basis as an undergraduate at a Participating School under MOFELP.

Be making satisfactory academic progress as determined by your Participating School.

Have an Expected Family Contribution (EFC) (as defined in the MOFELP Loan Application/Promissory Note)

of $12,000 or less for the current academic year.

Be at least 17 years of age.

Be a United States citizen and a permanent Missouri resident with your primary domicile located in Missouri.

Not have a bachelor’s degree.

mailto:[email protected]

Have a composite score of at least 21 on ACT or SAT equivalent; or have an overall cumulative Grade Point

Average (GPA) of 2.5 or higher on a 4.0 scale (or the equivalent on another scale) earned at the Participating

School.

Receive the maximum loan amounts for which the student is eligible for the Direct Subsidized Loans and

Unsubsidized Loans. This requirement does not include Direct PLUS Loans or additional Unsubsidized Loan

funds received after a PLUS Loan denial.

Not have a conviction for fraud.

Have an amount of Certified Academic Financial Need (as defined below)* to attend your Participating School of $500 or more.

Have an amount of Certified Academic Financial Need* that is equal to or greater than the amount you have

requested for a MOFELP loan in your application; provided that this requirement does not apply if you and your cosigner (if any) agree to accept a MOFELP loan amount offered by MSLF that is equal to or less than your Certified Academic Financial Need.

Not at any time have been more than 60 days delinquent on any MOFELP loan payment.

Meet the applicable credit underwriting criteria (or have a cosigner that meets the criteria) as described below.

*Certified Academic Financial Need is the dollar amount estimate for an academic period determined by the

financial aid office of your Participating School that is derived by subtracting the financial aid office’s

estimate of “other financial aid” utilized or to be utilized by you from the financial aid office’s estimate of “cost

of attendance” at that Participating School.

Cosigner Requirements. If you have a cosigner (see the explanation below), the cosigner must:

Be a United States Citizen and be a permanent Missouri resident with his/her primary domicile located in

Missouri.




MOFELP Underwriting Requirements Underwriting Requirements. In addition to the eligibility requirements either you or your cosigner (if you have one)

must meet all of the following underwriting requirements:

Have at least a two-year credit history according to a credit report for such person.

Have submitted on the Loan Application/Promissory Note two references with contact information (see

Section 4 of the Loan Application/Promissory Note).

Meet all other creditworthiness standards established from time to time by MSLF.

If it is determined that you, or you and your cosigner, if you apply with one, have less than two years of credit history, fail to provide the required references and contact information, or fail to meet the other applicable creditworthiness standards, your application will be denied. If you wish to reapply, you will need to start the application process over and you may wish to consider applying with a different cosigner.

Although a cosigner is not required for a MOFELP application to be complete, approval of a MOFELP loan application requires that either you (the student applicant) or a cosigner meet the underwriting requirements, which may be difficult for some student applicants to meet. In other words, if the student applicant does not meet the underwriting requirements, the application can still be approved if a cosigner does meet those requirements, although that application would be denied if there was no cosigner.

If an application with no cosigner is denied due to not meeting the underwriting requirements, the student applicant will have to begin the application process over again and re-apply, potentially with a cosigner who can meet the underwriting requirements to obtain an approval. However, such a re-application would result in the applicant losing his or her place in the first come, first served priority list. If both the student applicant and the cosigner do not meet the underwriting requirements, the application will also be denied.


Page 2 of 3



2019V8 Page 3 of 3

MOFELP PARTICIPATING SCHOOLS

Avila University Central Methodist University Columbia College Cottey College Cox College Culver-Stockton College Drury University Evangel University Fontbonne University Goldfarb School of Nursing Hannibal-LaGrange University Harris-Stowe State University Kansas City Art Institute Lincoln University Lindenwood University Maryville University Missouri Baptist University Missouri Southern State University Missouri State University Missouri University of Science and Technology Missouri Valley College Missouri Western State University

Northwest Missouri State University Park University Ranken Technical College Rockhurst University Saint Louis University Saint Louis College of Pharmacy Saint Luke’s College of Health Sciences Southeast Missouri Hospital College of Nursing and Health Sciences Southeast Missouri State University Southwest Baptist University State Technical College of Missouri Stephens College Truman State University University of Central Missouri University of Missouri-Columbia University of Missouri-Kansas City University of Missouri-St. Louis Washington University Webster University Westminster College William Jewell College William Woods University


P.O. Box 4602 ● Chesterfield ● MO ● 63006-4602 800.809.0964 ● [email protected] 2019V8 Page 1 of 2

Loan Application and Solicitation Disclosure Statement Loan Interest Rate and Fees

2019-2020

Loan Fees Application Fee: None. Origination Fee: None. Loan Guarantee Fee: None. Repayment Fee: None. Late Charge Fee: None. Default Collection Charges: Yes (as permitted by law)

Loan Cost Examples On some other loans, the total amount you will pay will vary depending upon when you start to repay such loan. Because the Interest Rate for your MOFELP loan is 0%, the total amount you will pay will equal the Amount Provided (see below). This example provides estimates based upon two (2) different repayment options available to you while enrolled in school.

Repayment Option (while enrolled in school)

Amount Provided (amount

provided directly to you or your

school)

Interest Rate (highest possible rate)

Loan Term (how long you have to pay off the loan)

Total Paid Over Loan Term

1. Make $5.00/month Keep- In-Touch (KIT) payments. Make $5.00 per month KIT payments but defer Standard payments while enrolled in your Participating School at least half- time and during a grace period.

$5,000.00

0%

Initial deferral period while student is enrolled in your Participating School at least half time, followed, after a grace period, by a 10 year Standard Repayment Period.

$5,000.00

2. Make other monthly

payments exceeding the mandatory $5.00 per month KIT payments while enrolled at your Participating School at least half time and during a grace period. (this

payment amount would be optional for you)

$5,000.00

0%

Initial deferral period while student is enrolled in your Participating School at least half time, followed, after a grace period, by a 10 year Standard Repayment Period.

$5,000.00

About This Example

This repayment example includes repayment options prior to you entering the Standard Repayment Period, at which point your required monthly payments will be an amortized amount, based on a 10-year period at 0% interest. This example is based on the actual interest rate during the Loan Term but does not account for additional charges paid during the Loan Term (if applicable). More information regarding payment deferral and forbearance options during the Standard Repayment Period is available in the Application/Promissory Note. Such deferral or forbearance options (if chosen and approved) will not increase the “Total Paid Over Loan Term,” due to the interest rate remaining at 0%.

Your interest rate will be:

0.0%

Your interest rate during the life of the loan: Your rate is fixed. This means that your rate will remain the same for the life of your loan. Your interest rate will not be higher than 0%, regardless of whether you have a cosigner for this loan.


P.O. Box 4602 ● Chesterfield ● MO ● 63006-4602 800.809.0964 ● [email protected] 2019V8 Page 2 of 2

Federal Loan Alternatives

Loan Program

Current Interest Rate by Program Type (for disbursements made between 7-1-19 and 6-30-20)

Direct Loans For Students

4.529% Fixed Undergraduate subsidized and

unsubsidized

6.079% Fixed Graduate unsubsidized

Direct PLUS Loans For Parents and Graduate/

Professional Students

7.079% Fixed

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/Promissory Note and the Self-Certification Form. You may get the Application/Promissory Note and 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).

Reference Notes Fixed Interest Rate This loan has a fixed Interest Rate, which means that it will never change. On some other loans, the Interest Rate may be higher or lower than the Annual Percentage Rate (APR) because APR considers certain fees you pay to obtain such loans, the Interest Rate, and whether you defer (postpone) payments while you are in school. However, for your loan, the Interest Rate and the APR are each equal to 0%.

Eligibility Criteria Borrower Must:

Be enrolled on a full-time basis as an undergraduate student at a Participating School under MOFELP.


Have an Expected Family Contribution (EFC) of $12,000 or less for the current academic year.


Be a U.S. citizen and a permanent Missouri resident with your primary domicile located in Missouri.

Not have a Bachelor’s degree.

Have a composite score of at least 21 on ACT or SAT equivalent; or have an overall cumulative Grade Point Average (GPA) of 2.5 or higher on a 4.0 scale (or the equivalent on another scale) earned at the Participating School.

Receive the maximum loan amounts for which the student is eligible for the Direct Subsidized Loans and Unsubsidized Loans. This requirement does not include Federal PLUS Loans or additional Unsubsidized Loan funds received after a PLUS Loan denial.


Be determined by your Participating School to have $500.00 or more of Certified Academic Financial Need (as defined in the MOFELP Summary of Requirements) to attend your Participating School.

Be determined by your Participating School to have an amount of Certified Academic Financial Need equal to or greater than the amount you request for a MOFELP loan in your Application/Promissory Note; provided that this requirement does not apply if you and your cosigner (if any) agree to accept a MOFELP loan amount offered by the Missouri Scholarship and Loan Foundation that does not exceed your Certified Academic Financial Need amount.


Meet the applicable credit underwriting criteria.

Cosigner (if any) Must: • Be a U.S. citizen and a permanent Missouri resident with your primary

domicile located in Missouri. • Not have a conviction for fraud. • Be at least 18 years of age. • Not at any time have been more than 60 days delinquent on any MOFELP

loan payment. • Meet the applicable credit underwriting criteria.

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

More information about loan eligibility and repayment deferment or forbearance options is available in the MOFELP Application/Promissory Note and from the Missouri Scholarship & Loan Foundation or its loan servicer, the Missouri Higher Education Loan Authority (MOHELA), at 1-800-809-0964, [email protected], or www.mohela.com.

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


Rev. 02/2018

FACTS WHAT DOES MISSOURI SCHOLARSHIP AND LOAN FOUNDATION (“MSLF”) DO WITH YOUR PERSONAL INFORMATION?

Why?

What?

Financial companies choose how they share your personal information. Federal law gives

consumers the right to limit some but not all sharing. Federal law also requires us to tell you how

we collect, share, and protect your personal information. Please read this notice carefully to

understand what we do.

The types of personal information we collect and share depend on the product or service you

have with us. This information can include: Social Security number and account balances Payment history and account transactions Credit history information

When you are no longer our customer, we continue to share your information as described

in this notice.

How? All financial companies need to share customers’ personal information to run their everyday

business. In the section below, we list the reasons financial companies can share their

customers’ personal information; the reasons the MSLF chooses to share; and whether you

can limit this sharing.

Reasons we can share your personal information Does MSLF share? Can you limit this sharing?

For our everyday business purposes –

such as to process your transactions, maintain

your account(s), respond to court orders and

legal investigations, or report to credit bureaus

Yes

No

For our marketing purposes –

to offer our products and services to you

Yes

No

For joint marketing with other financial companies

No

We don’t share

For our affiliates’ everyday business purposes –

information about your transactions and experiences

No

We don’t share

For our affiliates’ everyday business purposes –

information about your creditworthiness

No

We don’t share

For nonaffiliates to market to you

No

We don’t share

Questions? Call 1.800.809.0964 or go to mslf.mohela.com

Page 2

Who we are

Who is providing this notice? MSLF

What we do

How does MSLF protect my personal information?

To protect your personal information from unauthorized access

and use, we use security measures that comply with federal law.

These measures include computer safeguards and secured files

and buildings.

How does MSLF collect my personal information?

We collect your personal information, for example, when you:

apply for a loan or open an account

provide account information or give us your contact information

pay us by check

We also collect your personal information from others, such as credit

bureaus, affiliates, or other companies.

Why can’t I limit all sharing? Federal law gives you the right to limit only

sharing for affiliates’ everyday business purposes – information

about your creditworthiness

affiliates from using your information to market to you

sharing for nonaffiliates to market to you

State laws and individual companies may give you additional rights to

limit sharing.

Definitions

Affiliates Companies related by common ownership or control. They can be

financial and nonfinancial companies.

Our affiliates include financial companies such as MOHELA.

Nonaffiliates Companies not related by common ownership or control. They can be

financial and nonfinancial companies.

MSLF does not share with nonaffiliates so they can market to you.

Joint marketing A formal agreement between nonaffiliated financial companies that

together market financial products or services to you.

MSLF doesn't jointly market.

Instructions and Checklist 2019-2020

The proceeds of any Missouri Family Education Loan Program (“MOFELP”) loan must be used for educational purposes. The Missouri Scholarship and Loan Foundation (“MSLF”) is the MOFELP lender, and the Higher Educational Loan Authority of the State of Missouri (“MOHELA”) is the servicer of MOFELP loans. (For purposes of this “Instructions and Checklist” document, the terms “you” and “your” refer to the student applicant and the terms “we” and “us” refer to MSLF.)

ELIGIBILITY Student Applicant must:

Be enrolled on a full-time basis as an undergraduate at a “Participating School” under MOFELP. (For the list of Participating Schools, see the current MOFELP Summary of Requirements.)


Have an Expected Family Contribution (EFC) (as defined in the Loan Application/Promissory Note) of $12,000 or less for the current academic year.


Be a United States Citizen and a permanent Missouri resident with your primary domicile located in Missouri.

Not have a bachelor’s degree.

Have a composite score of at least 21 on ACT or SAT equivalent; or have an overall cumulative Grade Point Average (GPA) of 2.5 or higher on a 4.0 scale (or the equivalent on another scale) earned at the Participating School.

Receive the maximum loan amounts for which the student is eligible for the Direct Subsidized Loans and Unsubsidized Loans. This requirement does not include Federal PLUS Loans or additional Unsubsidized Loan funds received after a PLUS Loan denial.


Have an amount of Certified Academic Financial Need (as defined below) * to attend your Participating School of $500 or

more.

Have an amount of Certified Academic Financial Need* that is equal to or greater than the amount you requested for a

MOFELP loan in your application; provided that this requirement does not apply if you and your cosigner (if any) agree to

accept a MOFELP loan amount offered by MSLF that is equal to or less than your Certified Academic Financial Need.


Meet the applicable credit underwriting criteria (or have a cosigner that meets the criteria) as described below.

If you have a cosigner, the cosigner must meet the eligibility requirements listed below.

*Certified Academic Financial Need is the dollar amount estimate for an academic period determined by the financial aid office of your Participating School that is derived by subtracting the financial aid office’s estimate of “other financial aid” utilized or to be utilized by you from the financial aid office’s estimate of “cost of attendance” at that Participating School.

WHEN TO APPLY

A Loan Application/Promissory Note must be received by MSLF no later than 30 days after the end of the academic period for which you are applying. However, due to limited funds being available, earlier submissions receive priority for consideration if they are complete. See the MOFELP Summary of Requirements for details.

HOW TO APPLY

If you are viewing this application package from MOHELA’s website, you will need to print it all on paper.

Read the entire Loan Application/Promissory Note.

Complete all information requested in Sections 1 through 4 of the Loan Application/Promissory Note. All fields are required to be completed, and any missing data could result in denial of the application.

Use black or blue ink and print clearly.

Sign and date the Loan Application/Promissory Note.

Complete and sign the Private Education Loan Applicant Self-Certification (“Self-Certification”).

If you have a cosigner, the cosigner must sign and date the Loan Application/Promissory Note and Self-Certification. See the section below regarding cosigners.

Make a photocopy of the completed and signed Loan Application/Promissory Note and Self-Certification to keep for your records.


2019V8 Page 1 of 2


Submit the signed Loan Application/Promissory Note and Self-Certification to the financial aid office at your school.

If you would like loan payments to be automatically withdrawn from a bank deposit account, submit the Auto Debit Authorization Agreement with the Loan Application/Promissory Note and Self-Certification, completed and signed as indicated.

Your school’s financial aid office will complete the School Certification and submit your Loan Application/Promissory Note and Self-Certification to MSLF on your behalf.

LOAN REQUEST (Section 2). Indicate the loan amount and semesters for which you are applying. The annual maximum

aggregate loan amount per borrower is $5,000, the minimum loan amount is $500, and the total maximum aggregate loan amount per borrower is $20,000. If your loan is approved, the number and amount of disbursements will be determined by MSLF, which will take into account your loan request and the certification of your school’s financial aid office. If your loan is approved, the amount of your loan will not exceed your Certified Academic Financial Need as determined by your Participating School, even if such amount is less than your loan request. Each loan may be disbursed in up to two disbursements. COSIGNERS (Section 3). If you have less than two years of credit history or fail to meet certain creditworthiness standards

established by MSLF, a cosigner with at least two years of credit history who meets such creditworthiness standards is required. To have a credit history requires having been provided credit (such as a credit card or a loan). Credit history and the other applicable credit standards may be difficult for some students to meet. If you apply without a cosigner and it is determined that you have less than two years credit history or do not meet the other applicable credit standards, your application will be denied. If your application is denied and you then wish to apply with a cosigner, you will need to start the application process over. Because funds for loans under this program are limited and provided to qualifying applicants in the order that completed qualifying applications are received, you may wish to consider applying with a cosigner from the beginning. In addition to meeting the credit history and other creditworthiness standards as described above, any cosigner must also meet the following eligibility requirements:

Be a United States Citizen and be a permanent Missouri resident with his/her primary domicile located in Missouri.


Not at any time, have been more than 60 days delinquent on any MOFELP loan payment.

Not have a conviction for fraud. UNDERWRITING REQUIREMENTS. In addition to the eligibility requirements either you or your cosigner (if you have one) must

meet all of the following requirements:

Have at least a two-year credit history according to a credit report for such person.

Have submitted the complete Loan Application/Promissory Note and the documents in the application checklist as noted below.

Have submitted on the Loan Application/Promissory Note two references with contact information (see Section 4 of the Loan Application/Promissory Note).

If it is determined that you, or you and your cosigner, if you apply with one, have less than two years of credit history, fail to provide the required references and contact information, or fail to meet the other applicable creditworthiness standards, your application will be denied, and if you wish to reapply, you will need to start the application process over and you may wish to consider applying with a different cosigner.

REFERENCES (Section 4). List two persons, other than any cosigner provided in Section 3 of the Loan Application/Promissory

Note, who have a different address than you and your cosigner. References cannot reside at the same address as each other. We will communicate with the references you provide in Section 4 if we are ever unable to contact you. EMAIL. Email will be used whenever possible to communicate with you. Enter your preferred email address for receiving

communications. You are not required to provide this information. If you do, MSLF and its agents may use your email address to communicate with you. If you do not have an email address or do not wish to provide one, enter N/A where an email address is requested. Please notify us if the email address you provide on your application becomes invalid or is changed. APPLICATION CHECKLIST. Submit the following to the financial aid office of your school.

_____ Loan Application/Promissory Note completed and signed by student applicant and cosigner, if applying with a

cosigner. _____ Private Education Loan Applicant Self-Certification, completed and signed by student applicant and cosigner, if

applying with a cosigner. _____ Auto Debit Authorization Agreement completed and signed as indicated, if you want to authorize MSLF to

automatically debit a bank account to make your loan payments.


2019V8 Page 2 of 2


MOFELP Missouri Family Education Loan Program

Page 1 2019V8

Application/Promissory Note Terms 1. IDENTIFICATION OF TERMS AND PARTIES The term “Application/Promissory Note” as used in this document refers to this Loan Application/Promissory Note (including the Application/Promissory Note Terms) and, as applicable, the School Certification of Borrower/Student, Disclosure Statements, and Cosigner Notices referenced herein, except as otherwise provided in any of the foregoing. Except as provided in Section 16 of the Application/Promissory Note Terms and as provided in the School Certification of Borrower/Student, the words “I,” “my,” “me” and related pronouns mean, for purposes of this Application/Promissory Note, each person who signs this Application/Promissory Note as Borrower or as Cosigner, jointly and severally, unless the applicable language specifically refers to only one or the other or specifies a different meaning. Furthermore, except as provided in Section 16 of the Application/Promissory Note Terms and as provided in the School Certification of Borrower/Student, the words “you” and “your” mean the Lender, as further defined in Section 2 of the Application/Promissory Note Terms. 2. DEFINITIONS “Acceptance Period” means the thirty (30) calendar-day period following the date on which Borrower receives the Approval Disclosure Statement for the Loan disclosed therein. “Application and Solicitation Disclosure Statement” means the statement provided to Borrower, which discloses, among other things, information about applicable Interest rates, fees, late payment costs, repayment terms, including an example of the total cost of a Loan based upon the maximum Interest rate offered by the Lender, as required by Regulation Z, and which is included on or with my Application/Promissory Note. “Application/Promissory Note Terms” means the provisions set forth under this part of the Application/Promissory Note under the heading “Application/Promissory Note Terms.” Except as otherwise provided in this document, the Application/Promissory Note Terms do not in any way limit the effectiveness of other terms and conditions set forth elsewhere in the Application/Promissory Note. “Approval Disclosure Statement” means the statement provided to Borrower, which discloses, among other things, information specific to the applicable Loan approved by the Lender, as required by Regulation Z, and which is included on or with notice that the Lender has approved my Application/Promissory Note. The term shall also include any subsequent approval disclosure statement required by Regulation Z to be given upon changes in the Loan. “Business Day” means all calendar days except Sundays and legal Federal holidays. “Cancellation Period” means the period during which Borrower or Cosigner has the right to cancel the Loan approved by Lender, without penalty, which period expires at midnight of the third (3rd) Business Day following Borrower’s receipt of the related Final Disclosure Statement, as specified in the Right to Cancel box at the top of the Final Disclosure Statement. “Certified Academic Financial Need” means the dollar amount estimate for an academic period determined by the financial aid office of my Participating School that is derived by subtracting such financial aid office’s estimate of Other Financial Aid utilized or to be utilized by me for the applicable academic period from such financial aid office’s estimate of the Cost of Attendance at my Participating School. “Communication” means any Disclosure Statement, notice, tax document, or other form of correspondence related to this Application/Promissory Note or Loan. “Cosigner Notice” means any applicable notice that describes the obligations of a Cosigner under this Application/Promissory Note with respect to the Loan that I obtain subject to the terms of this Application/Promissory Note. “Cost of Attendance” means the cost of attendance, as defined in 20 U.S.C. §1087ll, at the Participating School. “Current Total Financial Aid” means, at the time of any Loan disbursement, the amount derived by adding all Other Financial Aid of Student for the applicable academic period as of the date of such disbursement (including any such Other Financial Aid listed in the Application/Promissory Note and any additional Other Financial Aid), as estimated in the sole discretion of the Participating School, to the total amount of prior Loan disbursements. “Current Total Financial Need” means, at the time of any Loan disbursement, the amount derived by subtracting Student’s Current Total Financial Aid from the Cost of Attendance at the Student’s Participating School as estimated in the sole discretion of the Participating School for the applicable academic period. If Current Total Financial Need is calculated to be a negative number, it shall be deemed to be zero instead. “Direct Subsidized Loans and Direct Unsubsidized Loans” are types of federal student loans for eligible students under the William D. Ford Federal Direct Loan Program to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school. The U.S. Department of Education offers eligible students at participating schools Direct Subsidized Loans and Direct Unsubsidized Loans. (Some people refer to these loans as Stafford Loans or Direct Stafford Loans.) “Disbursement Date” means the date that the Lender makes the final disbursement of the Loan in accordance with and subject to the terms and conditions of this Application/Promissory Note. Loans may have one or two disbursements. The Disbursement Date is the date the loan is fully disbursed. “Disclosure Statement” means, as applicable, an Application and Solicitation Disclosure Statement, Approval Disclosure Statement and/or Final Disclosure Statement, as required by Regulation Z, or such other disclosure statement that the Lender may provide when a disclosure statement is not required by Regulation Z. “Eligible School” means, for purposes of eligibility for deferment from Standard Payments due to enrollment in school, as described in Section 7 of the Application/Promissory Note Terms (below), an institution of higher education as defined in 34 CFR 600.4. “Expected Family Contribution” (EFC) means, the number that is designated as the EFC on the Student Aid Report (SAR) issued by the U.S. Department of Education Central Processing System to the Student of the applicable academic period and certified by the financial aid office of the Participating School on the Loan Application/Promissory Note. “Final Disclosure Statement” means the statement that discloses information specific to my Loan including, among other things, the right of Borrower or Cosigner to cancel the Loan during the Cancellation Period, as required by Regulation Z, which will be provided to Borrower if I accept the Loan within the Acceptance Period. The term shall also include any subsequent final disclosure statement required by Regulation Z to be given upon changes in the Loan.


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“Grade Point Average” (GPA) means an indication of a student's academic achievement at a Participating School, calculated by that Participating School as the total number of grade points received over a given period divided by the total number of credits awarded. “Interest” means interest that accrues at the applicable rate set forth in the Final Disclosure Statement on the unpaid Principal balance of the Loan. “Keep-In-Touch Payment Period” means the period of time during which the Keep-In-Touch Payments will be made. The Keep-In-Touch Payment Period shall begin once the loan is fully disbursed and continue until the Maturity Date. “Keep-In-Touch Payment” means the monthly payment in the amount of $5 that I will make to the Lender during the Keep-In-Touch Payment Period, as provided in the Final Disclosure Statement and in Section 7 of the Application/Promissory Note Terms, provided that Keep-In-Touch Payments will not be required during any period in which Standard Payments are being made. Except as expressly authorized under the Application/Promissory Note Terms, Keep-In-Touch Payments cannot be deferred and I will make Keep-In-Touch Payments during any forbearance or deferment period that may occur under this Application/Promissory Note. Keep-In-Touch Payments shall be applied first to accrued Interest payable under this Application/Promissory Note and then to the outstanding Principal. “Lender” means Missouri Scholarship and Loan Foundation, its successors and assigns, or any subsequent holder of this Application/Promissory Note, unless the applicable language specifies a different meaning. “Loan” means any extension of credit provided to me under the terms of this Application/Promissory Note in one or more disbursements, including without limitation, all Principal of this Application/Promissory Note plus Interest and any other fees, charges, or amounts due and owing pursuant to this Application/Promissory Note, as amended from time to time pursuant to the terms of this Application/Promissory Note. “Loan Amount Requested” means the loan amount requested on my Application/Promissory Note. “Loan Start Date” means the date on which my Cancellation Period expires without my cancelling the Loan. “Maturity Date” means the date the final Standard Payment is due as disclosed in the Final Disclosure Statement provided to Borrower, as the same may be extended pursuant to the terms of this Application/Promissory Note. “Other Financial Aid” includes financial aid such as scholarships, grants and loans, other than any estimated family contribution or disbursements received under this Loan. “Participating School” means, for purposes of eligibility for a Loan, the educational institution identified on page 1 of the Application/Promissory Note, which must be a higher education institution or technical college, which has been approved by Lender to participate in the Missouri Family Education Loan Program (MOFELP). “Principal” means any amounts disbursed to me or to the Participating School on my behalf or paid on my behalf under this Application/Promissory Note, which shall include any fees and charges added to the Principal of the Loan pursuant to this Application/Promissory Note. “Privacy Policy” means the statement that discloses information regarding how the Lender collects, shares, and protects personal information. “Regulation Z” means the federal Truth-in-Lending Act, as implemented by the Consumer Financial Protection Bureau's Regulation Z in 12 C.F.R. Part 1026. “Self-Certification Form” means the Private Education Loan Applicant Self-Certification or such other form signed by me in a written or electronic format setting forth information pursuant to Section 155 of the Higher Education Act of 1965, as amended, and Regulation Z. “Separation Date” means the earlier of: (i) the date that Student ceases to be enrolled in the Participating School on a half-time basis; and (ii) Student’s date of graduation from the Participating School, each as reflected in the Participating School’s records. “Servicer” means the Missouri Higher Education Loan Authority (MOHELA) or such other third party that has a contractual agreement to service loans made pursuant to the Application/Promissory Note, including, but not limited to, invoicing and collecting payments under this Application/Promissory Note. “Standard Payment” means the monthly payment disclosed in the Final Disclosure Statement that I will make to the Lender during the Standard Repayment Period, as provided in Section 7 of the Application/Promissory Note Terms, as the same may be amended pursuant to the terms of this Application/Promissory Note. “Standard Repayment Period” means the period of time during which Standard Payments will be made and shall be no longer than 10 years, except as provided in this Application/Promissory Note. The Standard Repayment Period shall begin on the Standard Repayment Period Start Date and continue until the Maturity Date. “Standard Repayment Period Start Date” means the date the Standard Repayment Period begins, which shall be the 15th day of the month first occurring after the 180th day following the Separation Date, unless otherwise provided in this Application/Promissory Note. “Student” means the person identified as the Borrower on the Application/Promissory Note. 3. WHEN BOUND; AUTHORITY NOT TO MAKE LOAN OR DISBURSEMENTS; RIGHTS TO ACCEPT OR CANCEL; RECEIPT OF MAILED DISCLOSURE STATEMENTS A. I understand that when you receive my signed Application/Promissory Note, you are not agreeing to lend me money and I am not bound by the terms and conditions set forth in this Application/Promissory Note, and there is no such agreement until the Loan Start Date. If you decide to make the Loan to me, I hereby authorize you at your option and on my behalf to either electronically transfer the Loan proceeds to the Participating School for me or mail a check for the Loan proceeds made payable to the Participating School for me. You have the right to not make the Loan or not make a disbursement on the Loan, as permitted by applicable law and this Application/Promissory Note, including but not limited to Section 5 below. The amount of the Loan shall not exceed my Certified Academic Financial Need, regardless of the Loan Amount Requested. Further, you have the right to lend an amount less than the Loan Amount Requested based upon a certification or other information received from the Participating School or from me indicating that my Cost of Attendance at the Participating School has decreased or Other Financial Aid has increased, based on my eligibility at the time of my request or based upon availability of funds designated for the loan program for which I applied. I have the right to accept or reject a Loan counteroffer from you for an amount less than the Loan Amount Requested, provided that this right does not apply to disbursement amounts after


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the Loan is effective. If I accept such counteroffer, I agree to repay the loan amount that Lender actually lends to me. I authorize the Participating School to apply each disbursement of the Loan to Student’s student account at the Participating School and to return to Lender as a partial prepayment on the Loan, the amount that any such disbursement exceeds Current Total Financial Need. Lender may rely on this authorization and the Participating School’s determination of Current Total Financial Need. Upon receipt of such prepayment, Lender agrees to apply the repaid amount as a payment on the Loan. I waive all claims of liability that I may have against Lender if funds that would have otherwise been used to pay any expenses of mine are repaid to Lender by the Participating School.

B. By signing this Application/Promissory Note, and submitting it to the Lender, either directly or through the Participating School or some other person as directed in the Application/Promissory Note, I am requesting that you make a Loan to me in the principal amount set forth on this Application/Promissory Note and on the terms and conditions set forth in this Application/Promissory Note. If you approve this request and agree to make a Loan, you will provide me with an Approval Disclosure Statement, as required by law, in a written or electronic form, as applicable. After Borrower’s receipt of the Approval Disclosure Statement, I have the right to accept the Loan terms at any time during the Acceptance Period or such other date provided on the Approval Disclosure Statement, whichever is later, by contacting you as provided on the Approval Disclosure Statement.

C. Upon my acceptance of the Loan terms, as provided in Section 3.B. of the Application/Promissory Note Terms, you will provide Borrower with a Final Disclosure Statement, as required by law, in a written or electronic form, as applicable. The Final Disclosure Statement will include, among other things, my right to cancel the Loan, without penalty, at any time before the Cancellation Period expires.

D. In accordance with Regulation Z, whenever you mail to Borrower any Disclosure Statement that is required to be provided under this Application/Promissory Note or by law, Borrower will be deemed to have received the applicable Disclosure Statement three (3) Business Days after the Lender places the applicable Disclosure Statement in the mail. Borrower will notify Cosigner of receipt of each Disclosure Statement. 4. CERTIFICATION OF BORROWER; LOAN PURPOSE I declare under penalty of perjury under the laws of the United States of America that the following is true and correct. I certify that the information contained in my Application/Promissory Note is true, complete and correct to the best of my knowledge and belief and is made in good faith. I certify, represent and warrant that the proceeds of my Loan will be used for the payment of the Cost of Attendance at the Participating School. I understand that I am responsible for repaying immediately any funds that I receive which are not to be used or which are not used for the payment of the Cost of Attendance at the Participating School for the applicable academic period. I hereby authorize the Participating School, and if the Participating School is closed, any third party such as a custodian, receiver, bankruptcy trustee or trustee for a performance bond or tuition recovery fund, to pay to you any refund which may be due up to the amount of my Loan. 5. DISBURSEMENTS Disbursements: Before you make the first disbursement of the Loan made hereunder, you will provide Borrower with the Final Disclosure Statement that applies to the Loan in accordance with Regulation Z. You will not disburse any Loan funds on my behalf until after my Cancellation Period expires and my completion of the Self-Certification Form. My Loan may be made in more than one disbursement in the academic period for which I was approved. I acknowledge that Lender will disburse my Loan either by (a) transmitting funds electronically to the Participating School, to be applied to the Student’s account or (b) by issuing a check made payable to the Participating School. If the Participating School or I return all or part of any disbursement for whatever reason, Lender will apply any amount it receives to what I owe under this Application/Promissory Note, and if I have paid Lender in full, Lender will then refund any excess to me. Full-Time Student Requirement: Student agrees to be a full-time student as determined by the Participating School, at the Participating School throughout the academic period for which the Loan is issued. If Student is not a full-time student at the Participating School at the time any disbursement is to be issued, such disbursement shall not be issued, and the Loan amount shall be decreased by the amount of such unissued disbursement. If any such disbursement is issued in error, I am responsible for repaying immediately to Lender the full amount of such disbursement, and I authorize the Participating School to make such repayment on my behalf. Lender may rely on this authorization. The rights and requirements under this Section 5 are in addition to any other rights or remedies of Lender. Effect of Late Payments on Disbursements: In addition to any other remedies available to you upon any default of this Application/Promissory Note, if any other loan made to me by Lender is more than 60 days past due, no subsequent disbursement, if any, on my Loan will be made. 6. INTEREST If the fixed annual Interest rate set forth in the applicable Disclosure Statement provided to Borrower is zero, no Interest accrues (Sections 6.A and 6.B of the Application/Promissory Note Terms below do not apply) and the Loan is interest free, except as stated below in regards to interest after judgment in Section 6.C of the Application/Promissory Note Terms. A. Interest Begins Accruing on Disbursement Date: Interest accrues on the unpaid Principal balance of the Loan from the Disbursement Date until the date the Loan is repaid in full. The rate at which Interest accrues on the unpaid Principal is calculated at the fixed annual Interest rate set forth in the Final Disclosure Statement provided to Borrower and shall be computed on the basis of actual days elapsed and a 365/366-day year.

If I make my payment before it is due, less Interest will accrue. If I make my payment after it is due, more Interest will accrue. The amount of my final payment will depend on the amounts and dates of my payments. B. Interest After Default: Interest may accrue after default at the same rate applicable to my Loan before default. C. Interest After Judgment: If Lender obtains a judgment against me on this Application/Promissory Note, Interest will accrue after judgment at the higher of (i) the same rate applicable to my Loan after default and before judgment and (ii) the judgment interest rate for judgments and orders for money provided by statute.


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7. REPAYMENT General Repayment: I will repay the Loan as follows:

A. Keep-In-Touch Payments. I will pay the Keep-In-Touch Payment of $5 per month for the Loan under this Application/Promissory Note. This Keep-In-Touch Payment is in addition to any similar monthly payment I am required to make under each other loan made to me by Lender under any other promissory note. The first Keep-In-Touch Payment shall be due on the 15th day of the month immediately following the month in which the Disbursement Date occurs for any Disbursement Date occurring on or between the 1st and 14th days of a month and on the 15th day of the second month immediately following the month in which the Disbursement Date occurs for any Disbursement Date occurring on or between the 15th and last day of a month. In either case, each subsequent Keep-In-Touch Payment shall be due on the 15th day of each month thereafter, provided that Keep-In-Touch Payments will not be required during any period in which Standard Payments are being made.

B. Standard Payments. Commencing on the Standard Repayment Period Start Date and on the 15th calendar day of each month thereafter during the Standard Repayment Period, I will pay the Standard Payment amount of no less than $25.00 a month, as set forth on the Final Disclosure Statement. The final Standard Payment shall be due on the Maturity Date.

C. Maturity Date. On the Maturity Date, I understand and agree that the remaining outstanding Principal balance of the Loan and all accrued and unpaid Interest and fees shall be due and payable in full.

D. Making Payments. I understand and agree that payments must be made in U.S. funds, via Automated Clearing House (ACH) transfers in the manner provided to me by the Lender or Servicer, or via U.S. mail at the address provided to me by the Lender or Servicer. If I choose not to make payments via ACH transfers, I must mail each payment in time to reach the Lender or Servicer by the due date.

Prepayment: I may, at my option, prepay all or any part of the Principal, Interest and other charges at any time before payment is due without penalty. Prepayment of less than the entire outstanding amount of my Loan will not reduce the amount of my required monthly payment, but may reduce the number of payments I must make and/or the amount of my final payment. Returned Payment Fee: MSLF does not charge a returned payment fee. However, my financial institution may charge me a fee for a returned payment. Payment Due Notwithstanding Withdrawal from School, Death or Disability: I understand that I have to repay this Loan in full, even if I withdraw or I am dismissed from the Participating School without graduating. If I die, the terms of this Application/Promissory Note will be binding on my estate, which will be liable for my unpaid indebtedness unless otherwise provided under the terms of this Application/Promissory Note. I also understand that if I become totally and permanently disabled, my unpaid indebtedness on this Loan will not be canceled. I also understand that I will be liable for my unpaid indebtedness even if I fail to attend school or am dissatisfied with the education I receive from the Participating School. Application of Payments: Notwithstanding anything to the contrary herein, you may apply payments on my Loan in any manner that you determine within your sole discretion, as permitted by applicable law. If I have more than one loan with you, any payments you receive from me that are not designated for a specific loan may be applied to one or more of my loans in any manner that you determine within your sole discretion, as permitted by applicable law. I will not send you partial payments marked “paid in full,” “without recourse” or with other similar language unless such payments are submitted in accordance with Section 12 of the Application/Promissory Note Terms under the heading “No Accord and Satisfaction,” and sent to Missouri Scholarship and Loan Foundation c/o MOHELA, Attention: Accounting Department, P.O. Box 4602, Chesterfield Missouri 63006-4602, or to such other address as I may be given in the future. I also understand that if I send such payment, Lender or Servicer may accept it without losing any rights under this Application/Promissory Note and that acceptance of such payment will not be deemed an accord and satisfaction of what I owe on the Loan. Standard Payment Deferment; Standard Payment Forbearance:

A. Standard Payment Deferment. If at any time during the Standard Repayment Period Student is enrolled at any Eligible School on at least a half-time basis, I may defer my Standard Payments until Student is no longer a student on at least a half-time basis at an Eligible School by submitting a request for deferment to Servicer, subject to Section C below. During any such deferment, (i) I will not be required to make Standard Payments, (ii) interest, if any, will continue to accrue and I will remain responsible for all Interest, if any, that accrues during such deferment and (iii) I will make monthly Keep-In-Touch Payments except as otherwise authorized under the Application/Promissory Note Terms.

B. Standard Payment Forbearance; Reduced Payment. If at any time during the Standard Repayment Period I am unable to make Standard Payments as required by the terms of this Application/Promissory Note, I may ask for forbearance, subject to Section C below. I understand that granting a request for a period of forbearance, the terms of any forbearance and/or extending any period of forbearance previously granted, is at Lender’s sole option and in Lender’s sole discretion. If a request for forbearance is granted, during such forbearance period, (i) I will not be required to make Standard Payments, (ii) interest, if any, will continue to accrue and I will remain responsible for all Interest, if any, that accrues during such forbearance period, and (iii) I will make monthly Keep-In-Touch Payments or other monthly payments in an amount set at the sole option and in the sole discretion of Lender that are less than the Standard Payment amount. In connection with any forbearance, Lender may require a term for the forbearance of a number of months determined solely in the discretion of the Lender. C. Requests for Deferment/Forbearance; Binding Effect. I must contact the Servicer for deferment and forbearance request forms, eligibility requirements and terms of obtaining a deferment or forbearance (these forms, requirements and terms may also be obtained from the Servicer’s website, www.mohela.com). Requests must be in writing on forms obtained from the Servicer. No deferment or forbearance will be effective (i) unless written notice of approval is sent by Lender or Servicer to Borrower and agreed to by Borrower and Cosigner, and (ii) until the effective date designated in the sole discretion of the Lender.

Reamortization: I agree that in connection with any deferment or forbearance under this Application/Promissory Note, you may require the Standard Repayment Period to be extended beyond 10 years and/or require reamortization of the Standard Payments; provided that you shall provide me with the applicable Disclosure Statement setting forth the revised terms of the Loan. 8. DEFAULT To the extent permitted by applicable law, my Loan will be in default if any of the following occurs: (a) Any payment is not received within fifteen (15) days after its due date; (b) I break any other promise made in this Application/Promissory Note; (c) Lender discovers any false or misleading statement in any information I have given Lender in connection with this Application/Promissory Note; (d) The proceeds of this Loan are not used solely for expenses directly related to the Cost of Attendance; (e) Borrower and/or Cosigner make an assignment for the benefit of creditors or have a voluntary or involuntary bankruptcy proceeding instituted by or against Borrower and/or Cosigner; (f) Borrower and/or Cosigner is adjudicated incompetent or dies; (g) Borrower and/or Cosigner fail to provide notices to the Lender when required to do so by this Application/Promissory Note; (h) Borrower and/or Cosigner is in default


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on any loan(s) Borrower and/or Cosigner may already have with Lender or on any loan(s) Borrower and/or Cosigner may have with Lender in the future; or (i) Borrower and/or Cosigner fails to provide verification of enrollment status in the Participating School or any Eligible School when asked for it. I understand that if a default occurs on my Loan, the Participating School may withhold Student’s transcript and/or deny services to me to the extent permitted by applicable law. Notwithstanding the other provisions of this Application/Promissory Note (y) Lender shall not declare a default or accelerate the debt under this Application/Promissory Note against the Student Borrower on the sole basis of a bankruptcy or death of the Cosigner; and (z) after being notified of the death of the Student Borrower, Lender shall release the Cosigner and the estate of the Student Borrower within a reasonable timeframe from the obligations under this Application/Promissory Note and provide the Cosigner and the estate of the Student Borrower with notice of such release within a reasonable timeframe. 9. LENDER’S REMEDIES AFTER DEFAULT If a default occurs, then after any applicable notice and right to cure such default that is required by applicable law, which notice shall be deemed to have been received three (3) days after Lender mails it, unless prohibited by the terms of this Application/Promissory Note, Lender shall have the right to declare that the obligations (if any) of Lender to make the Loan or any disbursement on the Loan under this Application/Promissory Note have terminated, whereupon such obligations of Lender shall be immediately and forthwith terminated, and Lender shall have the further right to declare the entire balance of Principal, Interest and other charges owed under this Application/Promissory Note immediately due and payable, in full, without further notice to me. Lender may then take action to collect the entire Loan balance, including: (a) bringing a lawsuit against me and obtaining a judgment against me and/or (b) referring my Loan to a collection agency for further collection efforts. To the extent permitted by applicable law, I agree to pay any collection agency charges, reasonable attorneys’ fees and actual court costs (including fees and costs in bankruptcy court and in appellate courts), and other costs of collection incurred by Lender as the result of a default. If a default occurs on my Loan, then after any applicable waiting periods or notices required by applicable law, and as permitted by applicable law, Lender may also disclose information about the declared default to one or more national consumer credit reporting agencies, which may adversely affect my ability to obtain other credit. To maintain a good credit rating, it is to my advantage to meet my obligations under this Application/Promissory Note. I agree that you may report information about my account to credit reporting agencies and that late payments, missed payments, or other defaults on my account may be reflected in my credit report. 10. NOTICES I must immediately notify Lender in writing and in no event later than thirty (30) calendar days, after any of the following occurs: (a) a change in my primary address, telephone number, or email address; (b) a change in my name; (c) Student ceases to be enrolled on a full-time basis at the Participating School; (d) Student ceases to be enrolled on a half-time basis at the Participating School; (e) Student graduates from the Participating School; or (f) any other event for which this Application/Promissory Note requires that notice be provided to Lender under the procedures set forth in this Section 10 of the Application/Promissory Note Terms. Any notice I send to Lender will be sent to the address that Lender has most recently provided me for that purpose. If Lender has not provided any address to me, notices may be sent to the address shown on my monthly statements or coupon book. I acknowledge that any Disclosure Statement or other notice sent to Borrower or Cosigner by Lender under this Application/Promissory Note is deemed to be received three (3) days after Lender mails or otherwise sends it. 11. COMMUNICATING WITH ME I consent to conducting the transactions related to this Application/Promissory Note and to providing and receiving Communication by electronic means, such as via email or the Internet, and such consent applies until withdrawn as further described in this Section 11. To the extent permitted by applicable law, and without limiting any other rights you may have, I consent to the Lender and Servicer communicating with me, in connection with my Application/Promissory Note or Loan, using any phone number or email address that I provided in my Application/Promissory Note, or using any phone number or email address that I provide to the Lender or Servicer in the future. The Lender and/or Servicer may communicate with me using any current or future means of communication, including, but not limited to, automated telephone dialing equipment, artificial or pre-recorded voice messages, SMS text messages, email directed to me at a mobile telephone service, or email otherwise directed to me. THE LENDER AND/OR SERVICER MAY USE SUCH MEANS OF COMMUNICATION EVEN IF I WILL INCUR COSTS TO RECEIVE SUCH PHONE MESSAGES, TEXT MESSAGES, OR EMAILS. Any Communication required to be given to me will be effective if sent by first class mail to the latest address the Lender or Servicer has for me or, except as otherwise required by law, by electronic means to an address that I have provided. I acknowledge that I have the right to receive Communication on paper or in nonelectronic form, and that I may withdraw my consent to receive Communication via electronic means at any time, at no fee or cost to me; provided that a request for specific Communication on paper or in non-electronic form will not be treated as a withdrawal of consent to receive Communication via electronic means unless I also provide express notice of such withdrawal of consent in the manner set forth in this Section 11. If I wish to receive specific Communication in paper form at any time, wish to withdraw my consent to send and receive electronic Communication, or need to update my electronic contact information (e.g., my email account address), I must provide notice to you under the procedures set forth in Section 10 of the Application/Promissory Note Terms. You will confirm in writing the withdrawal of my consent to receive Communication via electronic means and the effective date of such withdrawal of consent, upon which date you will cease to provide Communication via electronic means. If I withdraw my consent, all further Communication will be provided to me in non-electronic form via U.S. mail, at no additional cost to me. I acknowledge that to access, view and retain Communications provided to me electronically, I must have: (1) access to the Internet through means of a computer, tablet, mobile telephone, or other electronic device capable of receiving, accessing, displaying, printing and storing Communication received in electronic form using an Internet browser or other electronic communication application, (2) sufficient electronic storage capacity on my computer’s hard drive or other data storage unit, and (3) a PDF reader (or equivalent software) to download and print certain Communications. I acknowledge that you reserve the right to revise the hardware and software requirements set forth in this section in a manner consistent with the E-Sign Act (15 U.S.C. § 7001 et seq.) and other relevant federal laws. I understand that the Lender and Servicer provide an email address ([email protected]) to which I can transmit certain questions or comments for the Lender or Servicer about MOFELP; however, because such email transmissions may not be secure or confidential, I will not transmit any confidential information to this email address, including, for example, any Loan information or personal information about me. For transmission of any such confidential information, I will use only secure methods, such as U.S. mail, hand delivery by me or electronic communication methods offered by the Servicer and Lender that are expressly represented to be used for confidential communication transmissions.


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12. GOVERNING LAW; INVALID PROVISIONS; WAIVERS; EXTENSION, RENEWAL, OR RELEASE; ASSIGNMENT; CHANGES TO NOTE; CHANGES TO PAYMENT SCHEDULE; SAVINGS CLAUSE; NO ACCORD OR SATISFACTION; BANKRUPTCY Governing Law: THIS APPLICATION/PROMISSORY NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF MISSOURI (EXCLUDING SUCH LAWS THAT MIGHT DIRECT THE APPLICATION OF LAWS OF ANOTHER JURISDICTION) AND FEDERAL LAW AND THE HIGHER EDUCATION ACT OF 1965, AS AMENDED. Invalid Provisions: Should any of the provisions of this Application/Promissory Note be held invalid by a court having jurisdiction, the remaining provisions of this Application/Promissory Note shall not be affected thereby and this Application/Promissory Note shall be construed as if such invalid provisions had not been included in this Application/Promissory Note. Waivers: I waive my rights to require Lender to demand payment of amounts due (known as “presentment”), to give notice that amounts due have not been paid (known as “notice of dishonor”), to obtain an official certification of non-payment (known as “protest”), and, to the extent permitted by applicable law, to give any other notices or demands in connection with this Application/Promissory Note. You may delay, fail to exercise, or waive any of your rights on any occasion without losing your entitlement to exercise the right on any future occasion. Extension, Renewal or Release: You may extend, renew or release me without affecting or releasing any other Borrower or Cosigner. Assignment: I may not assign this Application/Promissory Note or any of its benefits or obligations. However, you have the right to assign your rights and duties under this Application/Promissory Note without my consent and without notice to me. If this Application/Promissory Note is sold or otherwise transferred, my rights under the law or under this Application/Promissory Note are in no way altered or impaired. Loan Sale Notice: I understand and acknowledge that my Loan may be sold while a balance remains outstanding. Such a sale will not result in any change in terms of my Loan as set forth herein. Changes to Application/Promissory Note: Except as otherwise indicated in this Application/Promissory Note, no term or provision of this Application/Promissory Note may be changed, and no request for forbearance by me may be granted, unless consented to in writing by both you and me. Savings Clause: If a law which applies to this Application/Promissory Note and which sets maximum Interest or finance charges is finally interpreted so that the Interest or other charges collected or to be collected in connection with this Application/Promissory Note exceeds the permitted limits, then: (a) any such charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from me which exceeded permitted limits will be refunded to me. You may choose to make this refund by reducing the Principal I owe under this Application/Promissory Note or by making a direct payment to me. If a refund reduces Principal, the reduction will be treated as a partial prepayment. No Accord and Satisfaction: A restrictive endorsement on any payment item (such as “paid in full”) will not be considered an accord and satisfaction of what I owe under this Application/Promissory Note. If I dispute any amount owed you, I must write to Lender at Missouri Scholarship and Loan Foundation c/o MOHELA, Attention Accounting Department, P.O. Box 4602, Chesterfield Missouri 63006-4602, or such other address provided by you to me for correspondence, and provide a reasonably detailed explanation of my dispute. Bankruptcy: If I file for bankruptcy I may still be required to pay the amount due under this Application/Promissory Note. 13. PRIVACY MATTERS Updating Financial Information: I agree to provide to you updated financial information about me any time you reasonably request it. Participating School: To the extent permitted by applicable law, you may provide a copy of the Application/Promissory Note, or any other document to, and may report my payment history to, the Participating School. I authorize the release of my student records by the Participating School to you, and I hereby release all claims against the Participating School, its parent companies, subsidiaries, employees, officers, shareholders and affiliates, pursuant to The Family Educational Rights and Privacy Act (FERPA) (20 U.S.C. § 1232g; 34 CFR Part 99) et seq. with respect to such release of my student records.

Receipt of and Reporting Credit Information; Authorization of Borrower: I authorize you to investigate my creditworthiness and to receive credit information about me from others, including other lenders, credit reporting agencies, and educational loan information clearinghouses. You may also furnish information about my Loan to credit reporting agencies and other persons who may legally receive such information. A negative credit report reflected on my credit record may be submitted to a consumer reporting agency if I fail to fulfill the terms of my payment obligations under this Application/Promissory Note. If I believe that you have furnished information to a consumer reporting agency that is inaccurate, I will notify you at the address specified below and identify the specific information that is inaccurate. Missouri Scholarship and Loan Foundation C/o MOHELA P.O. Box 4602 Chesterfield Missouri 63006-4602 This authorization extends to this Loan, any future loans that may be offered to me, any updates, renewals or extensions of this Loan that may be offered to me, any forbearance of this Loan or any future loans that may be offered to me, and any review or collection of this Loan or any future loans that may be offered to me. Communications Regarding Loan and Release of Loan Information: To the extent permitted by applicable law, I authorize you and the Participating School to communicate with, and to release information pertinent to this Loan to, members of my immediate family, including my spouse, unless I submit written directions to you revoking such authorization. I further authorize any lender or holder of any of my outstanding educational loans to release any information on any of my outstanding educational loans to any other lender or holder of any of my other educational loans. Inquiries to Learn Current Address and Telephone Number: I authorize you to release information and make inquiries to the individuals listed as references on the Application/Promissory Note for the purpose of learning my current address and telephone number. Social Security Number: You and the Participating School may verify my Social Security number with the Social Security Administration (SSA). If the Social Security Number on my Loan records is incorrect, then I authorize the SSA to disclose my correct Social Security number to you and the Participating School.


Page 7 2019V8

United States Department of Education Information: I authorize the United States Department of Education to send any information about me that is under its control, including information from the Free Application for Federal Student Aid, to you. Sharing Information: You may share information about me and my Loan within your affiliates as well as certain nonaffiliated third parties including without limitation credit bureaus, collection agencies and postsecondary education institutions, as described in your Privacy Policy. I acknowledge that I have received a copy of your Privacy Policy. To the extent permitted by applicable law and after providing required notices, Lender or any holder of my outstanding education loans may modify the Privacy Policy. 14. COSIGNER By signing this Application/Promissory Note as Cosigner, I acknowledge that (a) you may proceed directly against me without first proceeding against the Borrower, and (b) I am fully responsible for paying all amounts due under this Application/Promissory Note, in full, even if the Borrower is released from liability on this Application/Promissory Note for any reason whatsoever. Important Notice to Cosigner:

NOTICE TO COSIGNER

Cosigner is being asked to guarantee this debt. Cosigner should think carefully before Cosigner does. If Borrower doesn't pay the debt, Cosigner will have to. Cosigner should be sure Cosigner can afford to pay if Cosigner has to, and that Cosigner wants to accept this responsibility.

Cosigner may have to pay up to the full amount of the debt if Borrower does not pay. Cosigner may also have to pay late fees or collection costs, which increase this amount.

The creditor can collect this debt from Cosigner without first trying to collect from Borrower. The creditor can use the same collection methods against Cosigner that can be used against Borrower, such as suing Cosigner, garnishing Cosigner’s wages, etc. If this debt is ever in default, that fact may become a part of Cosigner’s credit record.

This notice is not the contract that makes Cosigner liable for debt.

15. FEDERAL LAW NOTICES I understand that the following notice is only applicable to loans issued to finance educational expenses at institutions subject to the FTC Holder Rule under 16 C.F.R. Section 433.2.

NOTICE: ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER. 16. STATUTORY NOTICE For purposes of this Section 16 of the Application/Promissory Note Terms, the terms “Borrower” and “You” each mean the person who signs the Application/Promissory Note as Borrower and/or the person who signs the Application/Promissory Note as Cosigner; the term “Us” means the Lender as defined under Section 2 of the Application/Promissory Note Terms.

“ORAL AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR FORBEAR FROM ENFORCING REPAYMENT OF DEBT, INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT, ARE NOT ENFORCEABLE. TO PROTECT YOU (BORROWER) AND US (LENDER) FROM MISUNDERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS YOU AND LENDER REACH COVERING SUCH MATTERS ARE CONTAINED IN THIS WRITING, WHICH IS THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN YOU AND LENDER, EXCEPT AS YOU AND LENDER MAY LATER AGREE IN WRITING TO MODIFY IT.”

2019V8 Page 1 of 4

MOFELP Loan Application/Promissory Note

2019-2020

A copy of this Application/Promissory Note can be found at mslf.mohela.com

Section 1—Borrower/Student Information

1. Student’s NameLast First Middle Initial

2. Permanent Street Address(P.O. Box not accepted) Street

City State Zip

3. Mailing Address (if different than above, include P.O. Box) Street/P.O. Box

City State Zip

4. Telephone Numbers _____________________________________________________ _____________________________________________________ Primary Number Alternate Number

5. Email Addresses _____________________________________________________ _____________________________________________________ Primary Email (this should be a non-school email address) Alternate Email

(Lender or its loan servicer may notify Student about the application status at these email addresses.)

6. Social Security Number ____________________________________________ 7. Date of Birth Month/Day/Year

8. U.S. Citizen? Yes No 9. Has Student ever been convicted of fraud? Yes No

10. Does Student have a composite score of at least 21 on the ACT or SAT equivalent; or have an overallcumulative GPA of 2.5 or higher on a 4.0 scale (or the equivalent on another scale) earned at the current

Participating School? Yes No

11. Does Student have a Bachelor’s Degree? Yes No

12. Participating School Attending College/University City State

Section 2—Loan Request

14. Academic Year or Semester(s) for which loan is requested

Fall 2019 Spring 2020

Full Year 2019 -2020 Summer 2020

Note: The amount requested should not be changed or altered in any way. Any alteration to the amount requested may invalidate this Application and a new Application will be required.

13. Loan Amount Requested: $__________.00, subject to decrease by the amount of any

disbursement if Student is not a full-time student at the Participating School when that disbursement isto be issued. Loan Amount Requested can be up to $5,000; minimum $500. Loan may be made in more than one disbursement.

[Grab your reader’s attention with a great quote from the document or use this space to emphasize a key point. To place this text box anywhere on the page, just drag it.]

Special Instructions:

Complete this form in its entirety.

Any blank information may result in a denial (or pending status) and a new application will be required.

Print clearly in blue or black ink.

Submit completed and signed application materials to Student’s Financial Aid Office.

22. Telephone Numbers _____________________________________________________ _____________________________________________________

Primary Number Alternate Number

23. Email Address (Lender or its loan servicer may notify Cosigner about the application status at this email address.)

24. Employer ___________________________________________________________ Name

_____________________________________________________ Telephone Number

Address City State Zip

Section 4—Reference Information Provide two references (other than your cosigner) who have different addresses than you or your cosigner. Additionally, references

cannot reside at the same address as each other.

Reference #1

25. Reference’s Name Last First Middle Initial

26. Permanent Street Address (P.O. Box not accepted) Street

City State Country Zip

27. Email Address



29. Relationship to Borrower Parent Other Relative Guardian Other (specify relationship):

Reference #2

30. Reference’s Name Last First Middle Initial


City State Country Zip

32. Email Address



34. Relationship to Borrower Parent Other Relative Guardian Other (specify relationship):

Section 3—Cosigner Information (A cosigner may improve chances of loan approval. See Instructions for further details.)

15. Cosigner’s Name Last First Middle Initial

16. Social Security Number _________________________________________________ 17. Date of Birth Month/Day/Year

18. U.S. Citizen? Yes No 19. Has Cosigner ever been convicted of fraud? Yes No


City State Zip

21. Mailing Address (if different than above, include P.O. Box) Street/P.O. Box

City State Zip

2019V8 Page 2 of 4

Section 5—Certifications and Signatures (Failure to sign and date this Application/Promissory Note will result in denial of this application.)

Each of us (Borrower and Cosigner) has completed this Application/Promissory Note to obtain credit, and certifies under penalty of perjury that the above statements are true and complete, to the best of his or her knowledge and belief. Each of us further certifies that (i) we are permanent residents of the State of Missouri (with our primary domiciles located in Missouri), (ii) this Application/Promissory Note was signed in the State of Missouri, and (iii) that proceeds of any loan made will be used only for expenses directly relating to the Cost of Attendance at the school identified in Section 1 of this Application/Promissory Note, at which the Borrower is enrolled on a full-time basis. Each of us also authorizes Missouri Scholarship and Loan Foundation (“MSLF”), or its designee, to check our references and to obtain a credit report. Each of us also authorizes MSLF, or its designee, to provide credit information arising from this transaction to others as permitted by applicable law. We also authorize any educational institution the Borrower may attend to release to MSLF, or its designee, or any subsequent holder, any information pertinent to this loan (e.g. enrollment status or current address). Each of us acknowledges that the information requested from us in this Application/Promissory Note will be used by MSLF, or its designee, to verify each of our identities, and each of us authorizes MSLF, or its designee, to verify each of our identities. Each of us authorizes MSLF, or its designee, to release information about the loan to the references on the loan unless we submit written directions stating otherwise. Each of us authorizes MSLF and its agents and contractors to contact us regarding the Application/Promissory Note or the loan, including repayment of the loan, at the current or any future telephone number that we provide (including for any cell phone, wireless or other communication device) using automated dialing equipment or artificial or prerecorded voice or text messages. Any notice or disclosure required to be given to either of us will be effective if sent by first-class mail to the most recent address MSLF has for us, by electronic means to an address or number we have provided, or by another method of notification permitted or required by applicable statute or regulation. Each of us will notify MSLF of a change of contact information or status as specified in the Application/Promissory Note Terms. MSLF provides Borrower the option to designate an individual to have legal authority to act on behalf of Borrower with respect to this Application/Promissory Note in the event of the death of Borrower. To exercise this option, Borrower should contact MOHELA (the MSLF servicer for MOFELP loans) at the address or telephone number on page 4 of this Application/Promissory Note or by visiting www.mohela.com to request the applicable forms for this designation. Each of us acknowledges that we each received the Application and Solicitation Disclosure Statement with this Application/Promissory Note in accordance with the federal Truth-in-Lending Act, as implemented by the Federal Reserve Board’s Regulation Z, 12 C.F.R. Part 226, and as currently codified by the Consumer Financial Protection Bureau in 12 C.F.R. Part 1026. Each of us acknowledges that the Application and Solicitation Disclosure Statement was provided to Borrower, and Borrower provided a copy of such disclosure to Cosigner.

Promise to Pay: For value received, I promise to pay to the order of MSLF all Principal (as defined in Section 2 of the Application/Promissory Note Terms) sums disbursed under this Application/Promissory Note, and, in addition, pay Interest as described in Section 6 of the Application/Promissory Note Terms, and any other collection costs that are permitted by applicable law, including without limitation, collection agency charges, reasonable attorneys’ fees, and actual court costs (including fees and costs in bankruptcy court and in appellate courts). I understand that I will be liable to pay all of these amounts, in full, even if another person also signs this Application/Promissory Note. I agree to make payments on the Loan (as defined in Section 2 of the Application/Promissory Note Terms) in accordance with the applicable payment schedule even if I do not receive a bill or repayment notice. I will not sign this Application/Promissory Note before reading the entire Application/Promissory Note, even if I am told I am not required to read it. I am entitled to an exact copy of this Application/Promissory Note.

Prior to signing this Application/Promissory Note, I have read and understood all the provisions of this Application/Promissory Note. I agree to the terms of this Application/Promissory Note and acknowledge receiving a completed copy of this Application/Promissory Note, which includes the Application/Promissory Note Terms and the other documents defined in the Application/Promissory Note Terms to be part of this Application/Promissory Note.

CAUTION: IT IS IMPORTANT THAT EACH BORROWER AND COSIGNER THOROUGHLY READS THIS APPLICATION/PROMISSORY NOTE AND ENSURE THAT THERE ARE NO BLANK SPACES CONTAINED IN THE APPLICATION/PROMISSORY NOTE BEFORE SIGNING BELOW.

Before Borrower and Cosigner (if any) submit these application materials, make sure Borrower and Cosigner:

• Read Summary of Requirements, Privacy Notice, Application and Solicitation Disclosure Statement.

• Read Instructions and Checklist, Application/Promissory Note, and Application/Promissory Note Terms. Complete all of these items.

• Sign (Borrower and Cosigner, if any) and date the Application/Promissory Note, and keep a copy for Borrower and Cosigner’s records.

• Sign (Borrower and Cosigner, if any) and date the Private Education Loan Self Certification form.

• Complete and sign as indicated the Auto Debit Authorization Agreement if Borrower wants to have payments on the Loan made automatically from a bank account. Note: Only the borrower can apply for Auto Debit.

Submit original signed documents to the Financial Aid Office of Student’s Participating School.

BORROWER SIGNATURE DATE

COSIGNER SIGNATURE DATE

NOTICE TO COSIGNER: Cosigner is being asked to guarantee this debt. Cosigner should think carefully before Cosigner does. If Borrower doesn't pay the debt, Cosigner will have to. Cosigner should be sure Cosigner can afford to pay if Cosigner has to, and that Cosigner wants to accept this responsibility.

Cosigner may have to pay up to the full amount of the debt if Borrower does not pay. Cosigner may also have to pay late fees or collection costs, which increase this amount.

The creditor can collect this debt from the Cosigner without first trying to collect from the Borrower. The creditor can use the same collection methods against Cosigner that can be used against the Borrower, such as suing Cosigner, garnishing Cosigner’s wages, etc. If this debt is ever in default, that fact may become a part of the Cosigner’s credit record.

This notice is not the contract that makes Cosigner liable for debt.

2019V8 Page 3 of 4

2019V8 Page 4 of 4

School Certification of Borrower/Student (to be completed by financial aid office)

The terms “I” and “my,” as used in this School Certification of Borrower/Student, refer to the Authorized Officer signing below on behalf of the Participating School.

1. Participating School: Name of School School Code

2. Student Name: ______________________________________________________ 3. Student Social Security Number: __________/________/__________

4. Student date of birth (MM/DD/YYYY): ____________________________ 5. Permanent Residence in Missouri (with primary domicile located in Missouri): Yes No

6. Loan Period (MM/DD/YYYY): _______________________ to _______________________ 7. Anticipated or Actual Graduation Date: _______________________

8. Undergraduate Class Year: 1st Year 2nd Year 3rd Year 4th Year 5th Year

9. Enrolled Full Time: Yes No 10. Have an EFC of $12,000 or less for this academic year: Yes No

11. Composite score of at least 21 on the ACT or SAT

equivalent; or an overall cumulative GPA of 2.5 or higher on a 4.0

scale (or the equivalent on another scale) earned at the current

Participating School : Yes No

12. Satisfactory Academic Progress: Yes No

13. Prior Bachelor’s Degree: Yes No

14. Requested Disbursement Date(s) and Amounts: (Maximum of two

dates)

1st Disb. Date _____________________ Amount _____________________

2nd Disb. Date_____________________ Amount _____________________

15. Has the student accepted and/or received his/her maximum loan amounts for which he/she is eligible for the Direct Subsidized Loans and Unsubsidized Loans? This

requirement does not include Federal PLUS loans or additional Unsubsidized Loan funds after a PLUS Loan denial. Yes No

16. Determination of Certified Academic Financial Need:

Cost of Attendance at Participating School: _____________________________

Less: Estimate of Other Financial Aid Utilized or to be Utilized by Applicant for Applicable Academic Period: - _____________________________

Equals: Certified Academic Financial Need: = _____________________________

I hereby certify that the student named in this Loan Application/Promissory Note is attending the school identified above during the academic year for which this loan is to be applied. I further certify that, based upon records of this institution, the information provided in this School Certification of Borrower/Student is true, complete, and correct to the best of my knowledge and belief. When requested by MSLF or MOHELA, or any subsequent holder of this loan, this institution will provide any information pertinent to this loan (e.g. Borrower’s enrollment status or current address), or cause such information to be provided. I certify that the MSLF loan program is administered by this institution in accordance with MSLF program rules and applicable laws and regulations.

________________________________________________________________________ _______________________________________________________________________ Signature Date and Time Received by FAO ________________________________________________________________________ ________________________________________________________________________ Print Name Telephone Number/Extension ________________________________________________________________________ ________________________________________________________________________ Title Email Address

Mail with completed Loan Application/Promissory Note and Student Self-Certification to: (Make a copy for the Participating School’s records prior to mailing)

MOHELA

P.O. Box 4602

Chesterfield, MO 63006-4602

Phone: 1.800.809.0964 Fax: 636.787.2768

________________________________________________________________________________________________ Important: Pursuant to Section 155 of the Higher Education Act of 1965, as amended, (HEA) and to satisfy the requirements of Section 128(e)(3) of the Truth in Lending Act, a lender must obtain a self-certification signed by the applicant before disbursing a private education loan. The school is required on request to provide this form or the required information only for students admitted or enrolled at the school. Throughout this Applicant Self-Certification, “you” and “your” refer to the applicant who is applying for the loan. The applicant and the student may be the same person.

Instructions: Before signing, carefully read the entire form, including the definitions and other information on the following page. Submit the signed form to your lender.

SECTION 1: NOTICES TO APPLICANT

Free or lower-cost Title IV federal, state, or school student financial aid may be available in place of, or in addition to, a private education loan. To apply for Title IV federal grants, loans and work-study, submit a Free Application for Federal Student Aid (FAFSA) available at www.fafsa.ed.gov, or by calling 1-800-4-FED-AID, or from the school’s financial aid office.

A private education loan may reduce eligibility for free or lower-cost federal, state, or school student financial aid.

You are strongly encouraged to pursue the availability of free or lower-cost financial aid with the school’s financial aid office.

The financial information required to complete this form can be obtained from the school’s financial aid office. If the lender has provided this information, you should contact your school’s financial aid office to verify this information and to discuss your financing options.

SECTION 2: COST OF ATTENDANCE AND ESTIMATED FINANCIAL ASSISTANCE

If information is not already entered below, obtain the needed information from the school’s financial aid office and enter it on the appropriate line. Sign and date where indicated. See Section 5 for definitions of financial aid terms.

A. Student’s cost of attendance for the period of enrollment covered by the loan $____________________

B. Estimated financial assistance for the period of enrollment covered by the loan $____________________

C. Difference between amounts A and B

WARNING: If you borrow more than the amount on line C, you risk reducing your eligibility for free or lower-cost federal, state, or school financial aid.

$____________________

SECTION 3: APPLICANT INFORMATION

Enter or correct the information below.

Full Name and Address of School ________________________________________________________________________________________________________

Applicant Name (last, first, MI) ___________________________________________________ Date of Birth (mm/dd/yyyy) _____/_____/__________

Permanent Street Address __________________________________________________________________

City, State, Zip Code __________________________________________________________________ ____________________

Area Code / Telephone Number Home ( ) ____________________________ Other ( ) ____________________________

E-mail Address________________________________________________________________________________________

Period of Enrollment Covered by the Loan (mm/dd/yyyy) From _____ / _____ / _______ to _____ / _____ / _______

If the student is not the applicant, provide the student’s name and date of birth.

Student Name (last, first, MI) ____________________________________________________ Student Date of Birth (mm/dd/yyyy) _____/_____/__________

SECTION 4: APPLICANT SIGNATURE

I certify that I have read and understood the notices in Section 1 and, that to the best of my knowledge, the information provided on this form is true and correct.

Signature of Applicant ______________________________________________________ Date (mm/dd/yyyy) _______________________

Signature of Cosigner (required) ______________________________________________________ Date (mm/dd/yyyy) _______________________

OMB No. 1845-0101 Form Approved Exp. Date 07-31-2019

Private Education Loan Applicant Self-Certification

This space for lender use only

http://www.fafsa.ed.gov/

SECTION 5: DEFINITIONS

Cost of attendance is an estimate of tuition and fees, room and board, transportation, and other costs for the period of enrollment covered by the loan, as determined by the school. A student’s cost of attendance may be obtained from the school’s financial aid office.

Estimated financial assistance is all federal, state, institutional (school), private, and other sources of assistance used in determining eligibility for most Title IV student financial aid, including amounts of financial assistance used to replace the expected family contribution. The student’s estimated financial assistance is determined by the school and may be obtained from the school’s financial aid office.

A lender is a private education lender as defined in Section 140 of the Truth in Lending Act and any other person engaged in the business of securing, making, or extending private education loans on behalf of the lender.

A period of enrollment is the academic year, academic term (such as semester, trimester, or quarter), or the number of weeks of instructional time for which the applicant is requesting the loan.

A private education loan is a loan provided by a private education lender that is not a Title IV loan and that is issued expressly for postsecondary education expenses, regardless of whether the loan is provided through the school that the student attends or directly to the borrower from the private education lender. A private education loan does not include (1) An extension of credit under an open-end consumer credit plan, a reverse mortgage transaction, a residential mortgage transaction, or any other loan that is secured by real property or a dwelling; or (2) An extension of credit in which the school is the lender if the term of the extension of credit is 90 days or less or an interest rate will not be applied to the credit balance and the term of the extension of credit is one year or less, even if the credit is payable in more than four installments.

Title IV student financial aid includes the Federal Pell Grant Program, the Federal Supplemental Educational Opportunity Grant (FSEOG) Program, the Federal Work-Study (FWS) Program, the William D. Ford Federal Direct Loan (Direct Loan) Program, the Federal Perkins Loan Program, and the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program. To apply for Title IV federal grants, loans, and work-study, submit a Free Application for Federal Student Aid (FAFSA), which is available at www.fafsa.gov, by calling 1-800-4-FED-AID, or from the school’s financial aid office.

SECTION 6: PAPERWORK REDUCTION NOTICE

Paperwork Reduction Notice: According to the Paperwork Reduction Act of 1995, no persons are required to respond to a collection of information unless it displays a currently valid OMB control number. The valid OMB control number for this information collection is 1845-0101. The time required to complete this information collection is estimated to average 0.25 hours (15 minutes) per response, including the time to review instructions, search existing data resources, gather and maintain the data needed and complete and review the information collection.

If you have any comments concerning the accuracy of the time estimate(s) or suggestions for improving this form, please write to: U.S. Department of Education, Washington, DC 20202-4651

If you have any comments or concerns regarding the status of your individual submission of this form, contact your lender.

http://www.fafsa.gov/

phone 800.809.0964 fax 636.787.2768 address PO Box 4602, Chesterfield, MO 63006-4602 Secure Form Submission on mslf.mohela.com. Log in, then click Forms and Upload Documents.

RETURN ONE COPY TO MOHELA RETAIN ONE COPY FOR YOUR RECORDS

AUTO DEBIT AUTHORIZATION AGREEMENT Auto Debit: “Auto Debit” is an electronic fund transfer (EFT) preauthorized to recur at substantially regular monthly intervals from Borrower’s

designated bank deposit account. Other capitalized terms used in this Auto Debit Authorization Agreement (this Agreement) are defined when introduced in the text of this Agreement or in the Definitions section of this Agreement. This Agreement authorizes Servicer to affect Auto Debits and conduct related activities.

Instructions: If Borrower decides to use Auto Debit for payments on the student loan(s), Borrower must agree to the terms of this

Agreement. To do so, Borrower should sign, date and return one copy of the Agreement to MOHELA at the address shown at the bottom of this page. In most cases, Borrower may be able to complete this Agreement online. During any period for which MOHELA is Servicer, only one bank account can be designated at a time for Auto Debit transactions for any or all MOHELA-serviced loans per Borrower, with or without a cosigner or co-borrower. Also, note that this Agreement can only be used for Auto Debits from a bank deposit account of the Borrower on one or more MOHELA-serviced student loans. Borrower understands that Borrower should carefully read all of this Agreement before agreeing to its terms.

Borrower should make manual payments until Agreement is approved by Servicer and Borrower is notified of when first withdrawal is scheduled by Servicer. It may take one to two billing cycles for Auto Debit withdrawals to begin.

SECTION 1: BORROWER IDENTIFICATION PLEASE PRINT LEGIBLY IN BLUE OR BLACK INK

Please enter the following information.

SSN (required) __________________________________

Name __________________________________________

Address ________________________________________

City, State, Zip Code ______________________________

Telephone – Primary ______________________________

Telephone – Alternate _____________________________

E-mail __________________________________________

Check this box if any of your information has changed.

SECTION 2: BANK INSTITUTION INFORMATION

Borrower is a direct account holder of the Bank Account identified below, and in such capacity, Borrower hereby authorizes Servicer to initiate Debits to transfer funds from the Bank Account for any payments due on each student loan and authorizes the Bank to allow such Auto Debits to the Bank Account. If approved, only the required monthly “Keep in Touch” payment of $5.00 and “additional amount” inputed below will be transferred based on the applicable repayment schedule and obligations for each such student loan. This amount will change upon entering repayment. You will be sent notification of monthly payment amount changes.

Bank Name: ______________________________________________________

This is a (check one): Checking Account Savings Account

Bank Account Holder’s Name: _______________________________________ (Borrower must be the Bank Account Holder)

Routing Number: _________________________ Account Number _________________________

If Borrower would like an additional amount withdrawn from the Bank Account by Auto Debit monthly, you will ENTER ONLY THE ADDITIONAL AMOUNT HERE: $__________*

*If Borrower has multiple Loans, such additional amount will be prorated across all student loans included in your Auto Debit authorized under this Agreement.

Payment Instructions: Provide standing payment instructions for how you want all ongoing payments applied by including a separate

signed document with this request. Include specific instructions and the amount, disbursement date, loan type and indicate this is a standing payment instruction. Send instructions to MOHELA, PO Box 4602, Chesterfield, MO 63006-4602.

SECTION 3: TERMS AND CONDITIONS

1) By signing below Borrower agrees that he or she has read, understands and agrees to be bound by all of the terms and conditions of this Agreement. The terms and conditions of this Agreement include all of the provisions of this Agreement, including without limitation the provisions of the attached Auto Debit Authorization Agreement Disclosure Statement for Recurring Auto Debit Payments.

2) Borrower also hereby authorizes the Missouri Scholarship and Loan Foundation (“MLSF”) and Servicer and their respective agents and contractors to contact Borrower regarding Borrower’s loan(s) (with any cosigner or co-borrower, as applicable), including repayment of such loan(s), in any manner, including at the current or any future number provided for cellular telephone or other wireless device using automated telephone dialing equipment or artificial or prerecorded voice or text messages, email directed to Borrower at a mobile telephone service, or email otherwise directed to Borrower. MSLF, Servicer and their respective agents and contractors may use such means of communication even if Borrower will incur costs to receive such communication.

BORROWER PRINTED NAME (REQUIRED) _________________________________________ DATE _______________________

BORROWER SIGNATURE (REQUIRED) __________________________________________________

phone 800.809.0964 fax 636.787.2768 address PO Box 4602, Chesterfield, MO 63006-4602 Secure Form Submission on mslf.mohela.com. Log in, then click Forms and Upload Documents.

RETURN ONE COPY TO MOHELA RETAIN ONE COPY FOR YOUR RECORDS

AUTO DEBIT AUTHORIZATION AGREEMENT Auto Debit: “Auto Debit” is an electronic fund transfer (EFT) preauthorized to recur at substantially regular monthly intervals from Borrower’s

designated bank deposit account. Other capitalized terms used in this Auto Debit Authorization Agreement (this Agreement) are defined when introduced in the text of this Agreement or in the Definitions section of this Agreement. This Agreement authorizes Servicer to affect Auto Debits and conduct related activities.

Instructions: If Borrower decides to use Auto Debit for payments on the student loan(s), Borrower must agree to the terms of this

Agreement. To do so, Borrower should sign, date and return one copy of the Agreement to MOHELA at the address shown at the bottom of this page. In most cases, Borrower may be able to complete this Agreement online. During any period for which MOHELA is Servicer, only one bank account can be designated at a time for Auto Debit transactions for any or all MOHELA-serviced loans per Borrower, with or without a cosigner or co-borrower. Also, note that this Agreement can only be used for Auto Debits from a bank deposit account of the Borrower on one or more MOHELA-serviced student loans. Borrower understands that Borrower should carefully read all of this Agreement before agreeing to its terms.

Borrower should make manual payments until Agreement is approved by Servicer and Borrower is notified of when first withdrawal is scheduled by Servicer. It may take one to two billing cycles for Auto Debit withdrawals to begin.

SECTION 1: BORROWER IDENTIFICATION PLEASE PRINT LEGIBLY IN BLUE OR BLACK INK

Please enter the following information.

SSN (required) __________________________________

Name __________________________________________

Address ________________________________________

City, State, Zip Code ______________________________

Telephone – Primary ______________________________

Telephone – Alternate _____________________________

E-mail __________________________________________

Check this box if any of your information has changed.

SECTION 2: BANK INSTITUTION INFORMATION

Borrower is a direct account holder of the Bank Account identified below, and in such capacity, Borrower hereby authorizes Servicer to initiate Debits to transfer funds from the Bank Account for any payments due on each student loan and authorizes the Bank to allow such Auto Debits to the Bank Account. If approved, only the required monthly “Keep in Touch” payment of $5.00 and “additional amount” inputed below will be transferred based on the applicable repayment schedule and obligations for each such student loan. This amount will change upon entering repayment. You will be sent notification of monthly payment amount changes.

Bank Name: ______________________________________________________

This is a (check one): Checking Account Savings Account

Bank Account Holder’s Name: _______________________________________ (Borrower must be the Bank Account Holder)

Routing Number: _________________________ Account Number _________________________

If Borrower would like an additional amount withdrawn from the Bank Account by Auto Debit monthly, you will ENTER ONLY THE ADDITIONAL AMOUNT HERE: $__________*

*If Borrower has multiple Loans, such additional amount will be prorated across all student loans included in your Auto Debit authorized under this Agreement.

Payment Instructions: Provide standing payment instructions for how you want all ongoing payments applied by including a separate

signed document with this request. Include specific instructions and the amount, disbursement date, loan type and indicate this is a standing payment instruction. Send instructions to MOHELA, PO Box 4602, Chesterfield, MO 63006-4602.

SECTION 3: TERMS AND CONDITIONS

1) By signing below Borrower agrees that he or she has read, understands and agrees to be bound by all of the terms and conditions of this Agreement. The terms and conditions of this Agreement include all of the provisions of this Agreement, including without limitation the provisions of the attached Auto Debit Authorization Agreement Disclosure Statement for Recurring Auto Debit Payments.

2) Borrower also hereby authorizes the Missouri Scholarship and Loan Foundation (“MLSF”) and Servicer and their respective agents and contractors to contact Borrower regarding Borrower’s loan(s) (with any cosigner or co-borrower, as applicable), including repayment of such loan(s), in any manner, including at the current or any future number provided for cellular telephone or other wireless device using automated telephone dialing equipment or artificial or prerecorded voice or text messages, email directed to Borrower at a mobile telephone service, or email otherwise directed to Borrower. MSLF, Servicer and their respective agents and contractors may use such means of communication even if Borrower will incur costs to receive such communication.

BORROWER PRINTED NAME (REQUIRED) _________________________________________ DATE _______________________

BORROWER SIGNATURE (REQUIRED) __________________________________________________

phone 800.809.0964 fax 636.787.2768 address PO Box 4602, Chesterfield, MO 63006-4602 Secure Form Submission on mslf.mohela.com. Log in, then click Submit a Form.

RETAIN FOR YOUR RECORDS

Debit Authorization Agreement – Disclosure Statement for Recurring Auto Debit Payments

1) Applicability of Promissory Note Terms/Authority for Auto Debit/Approval of Agreement

You represent that you have the right and are authorized by yourself, and without any further authorization from anyone else, to agree to the terms of this Agreement and to authorize Servicer to make Auto Debits from, and to authorize the Bank to allow Auto Debits to, the Bank Account under this Agreement. Servicer will not begin Auto Debit authorized by this Agreement until it is approved. Notification of approval of this Agreement may be expressed to you by written or verbal notice or by initiating any transaction authorized by this Agreement, which initiation shall constitute notice of approval of the Agreement.

2) The Type and Nature of Auto Debit

Each Auto Debit will be effective on the due date of the applicable student loan payment. The payment will be withdrawn from your bank account; and the payment amount will be equal to your monthly student loan payment based on the applicable repayment schedule and obligations plus any additional amount authorized under this Agreement and applicable law. If the payment date falls on a Federal Holiday or weekend, it may take up to an additional 3 business days for the payment to be withdrawn from your bank account.

3) In Case of Errors and Questions About Your Auto Debit

All questions about Auto Debits made under this Agreement with the Servicer should be directed to Servicer. Servicer is responsible for the Auto Debit service and for resolving any errors in transactions made with your Auto Debit. You have the right to file an error resolution with your bank and there there may be a specified timeframe the account holder is required to assert an error.

Servicer will not send you a periodic statement listing Auto Debit transactions. The transactions will appear only on the statement issued by your Bank or other financial institution. If you have any questions about the transactions, contact Servicer. If Servicer is MOHELA, call 800.809.0964, write MOHELA, PO Box 4602, Chesterfield MO 63006-4602, or log in and send a secure email through mslf.mohela.com.

You understand that you have certain rights under the Electronic Funds Transfer Act and its implementing regulation (Regulation E) with respect to unauthorized Auto Debits and the resolution of errors related to Auto Debits, and that, if you suspect an error in any Auto Debit transaction, you may contact the Bank to preserve those rights. This will not negate your responsibility to make payments on your student loan(s) as required by the applicable promissory note(s) during the investigation by Servicer.

4) How to Suspend an Auto Debit

After you have authorized Servicer to make Auto Debits pursuant to this Agreement, you may suspend any specific Auto Debit by providing timely notice to Servicer by logging into the website and using the eSign process, or by using the telephone number, mailing address or e-mail address provided in this Agreement. Servicer must receive your call, e-mail or written request by 4 p.m. CT., 3 business days or more before the Auto Debit is scheduled to be made in order for the Auto Debit to be suspended. A phone, written or electronic request may be made to suspend Auto Debits. Auto Debits will resume the month following the last suspended Auto Debit. If you wish to terminate all Auto Debits, you should do so in the manner set forth in Section 5. You are responsible for all monthly payments on your student loan(s) for which you have suspended or terminated Auto Debit. You must select another payment option made available by Servicer in place of the suspended or terminated Auto Debit.

5) Termination, Changes, Assignment, Insufficient Funds

This Agreement may be suspended or terminated upon written or verbal agreement by you and Servicer. This Agreement is not assignable by you. Servicer may assign its rights and obligations under this Agreement to a third party at any time, and you consent to any such assignment and to any assignment of such rights and obligations to any new Servicer. This Agreement shall continue in effect until your student loan(s) are paid in full, this Agreement is superseded by another Auto Debit Authorization Agreement, or until this Agreement is terminated by you or Servicer in accordance with the terms of this Agreement.

Servicer or you may terminate this Agreement at any time, with or without cause, by giving 10 business days advance written notice to the non-terminating party. For example, Servicer will normally terminate this Agreement if Servicer receives three consecutive insufficient funds returns. After any termination of this Agreement, you may reapply for Auto Debit the next month. It is your responsibility to ensure that you have sufficient funds to cover each Auto Debit. Servicer is authorized to collect by Auto Debit under this Agreement any additional fees, as permitted by law and/or your promissory note(s), resulting from insufficient funds. You may also be charged a return fee by the Bank if funds are not available in the Bank Account at the time of an Auto Debit.

You are responsible for maintaining a valid mailing address on file with Servicer; if you do not maintain a valid mailing address on file with Servicer, your Auto Debit may not be withdrawn.

If Servicer initiates a monthly student loan payment amount change, the new payment amount and any additional amount you previously requested to be Auto Debited will continue to be Auto Debited. You have the right to receive notice at least 10 days in advance if any Auto Debit amount will vary from the previous Auto Debit amount under this Agreement for the same student loan(s).

You are required to promptly submit a new Auto Debit Authorization Agreement to Servicer to make changes including, but not limited to, your ABA/Routing number and deposit account number. You are also required to submit a new Auto Debit Authorization Agreement in order to preauthorize Auto Debits for any additional student loan(s) or any student loan(s) previously excluded from this Agreement. Please notify MOHELA in writing, or through the website provided in this Agreementt, to change the monthly additional amount withdrawn.

http://www.mohela.com/

phone 800.809.0964 fax 636.787.2768 address PO Box 4602, Chesterfield, MO 63006-4602 Secure Form Submission on mslf.mohela.com. Log in, then click Submit a Form.

RETAIN FOR YOUR RECORDS

6) Servicer (MOHELA)’s Liability for Failure to Stop Auto Debit

If you request Servicer to stop a payment 3 business days or more before the transfer is scheduled, and Servicer does not do so, the Servicer may be liable for your losses or damages.

7) Servicer (MOHELA)’s Liability

If Servicer does not complete a transfer from your account according to our Agreement with you, Servicer will be liable for your loss or damages. However, there are some exceptions. Servicer will not be liable for instance:

1) If through, no fault of Servicer, you do not have enough money in your account to make the transfer. 2) If circumstances beyond our control (such as fire, flood, power or computer failure) prevent the transfer, despite reasonable

precautions that we have taken. 3) If the money in your bank account is subject to legal process other than encumbrances. 4) There may be other exceptions stated in our agreement with you.

8) Confidentiality/Privacy

Servicer may disclose information to third parties regarding your Bank Account, your student loan account(s) and/or Auto Debits in accordance with the rules and law applicable to the Missouri Scholarship and Loan Foundation (“MLSF”), including but not limited to, the following circumstances:

a) When necessary to complete an Auto Debit; b) To verify the existence and condition of your account for a credit bureau or merchant; c) In order to comply with government agency requests, subpoenas, or orders, lawful discovery under federal or state rules of civil

and criminal procedure, court orders, or as otherwise required by applicable law; or d) If you give Servicer written permission to do so.

9) Other Agreements and Regulations

Auto Debits are subject to all changes, rules and regulations governing debits to accounts and all other applicable agreements and disclosures for deposit and overdraft line of credit accounts, and are subject to any future charges.

10) Business Days

For purposes of this Agreement, business days are Monday through Friday, excluding bank holidays.

11) Auto Debit Statements

You will receive a monthly account statement from Servicer including each private loan on Automatic Payment. You may sign up for paperless delivery of this statement and all other communications at mslf.mohela.com.

12) Disclosure

You should keep a copy of this disclosure for your records. You have also been provided two copies of the Auto Debit Agreement, please complete and sign, return one copy to MOHELA (P.O. Box 4602; Chesterfield, MO 63006-4602) and keep the other copy for your records.

13) Definitions

a) Student loan means each loan issued by MSLF to Borrower under the Account Number listed on this Agreement under Borrower Identification on the Auto Debit Authorization Agreement.

b) Bank Account means the deposit account of Borrower identified on this Agreement under Bankl Institution Information. c) Borrower means the individual identified on this Agreement under Borrower Identification, who is also referred to in this

Agreement as “you” and with terms “your” and “yours.” d) MOHELA means the Higher Education Loan Authority of the State of Missouri. e) Servicer means MOHELA or any other agent designated from time to time by MSLF to conduct Auto Debits under this

Agreement.

14) Forbearance Understanding

If a student loan is past due at the time this authorized Agreement is received or processed, Borrower understands a forbearance may be applied to cover all payments due on that student loan through the end of the month the authorization is received or processed. Notification will be sent if a forbearance is applied.

http://www.mohela.com/

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