Fixed Rate Application and Solicitation Disclosure


Loan Interest Rate & Fees

New Hampshire Higher Education Loan Corporation
4 Barrell Court
PO Box 2111
Concord, NH 03302


Your interest rate will be between

3.500%
and
8.500%

After the rate is set, your rate will be fixed.

Your Interest Rate (upon approval)
The starting Interest Rate you pay will be determined after you apply. If you are the sole applicant, the rate will be established based on your credit profile, the repayment term, and the repayment option you select. If you apply with a cosigner, the rate will be established based on the cosigner's credit profile, the repayment term, and repayment option you select. If approved, we will notify you of the rates you qualify for within the stated range.

Your Interest Rate during the life of the loan
Your rate is fixed and will remain fixed for the life of the loan. This means that once your rate is determined, the rate will not change. For more information on this rate, see Reference Notes.

The rate will be fixed for the life of the loan.

Loan Fees
Origination Fee: 0.000% 
Late Charges:
 5.000% of the scheduled monthly payment. 
Collection and Default Charges: 
In the event of a default, the borrower may incur additional collection charges as permitted under applicable law.

Loan Cost Example

The total amount you will pay for this loan will vary depending upon when you start to repay it. This example provides estimates based upon three (3) repayment options available to you while enrolled in school. Please note that if you select the "Make full payments" option, you will not receive a grace period upon leaving school or dropping below half time enrollment.
Repayment Option
(while enrolled in school)
Amount Provided
(amount provided directly to you or your school)
Interest Rate
(highest possible starting rate)
Loan Term
(how long you have to pay off the loan)
Total Paid over 15 years
DEFER PAYMENTS
Make no payments while enrolled in school. Interest will accrue and unpaid accrued interest will be added to your principal balance when you enter repayment.
$10,000.00 8.500% 180 months

starting after the deferment period
$24,683.40
PAY ONLY THE INTEREST
Make interest payments but defer payments on the principal amount while enrolled in school. By selecting this option, your rate includes a 0.5% interest rate incentive. See Reference Notes for more details.
$10,000.00 8.000% 180 months

starting after the final disbursement
$20,983.68
MAKE FULL PAYMENTS Make principal and interest payments while enrolled in school. By selecting this option, your rate includes a 1% interest rate incentive. See Reference Notes for more details. $10,000.00 7.500% 180 months


starting after the final disbursement
$16,840.80

About this example
The repayment example assumes you remain in school for forty-eight (48) months and have a six (6) month grace period prior to entering repayment. The repayment example is based on the highest starting rate currently charged and associated fees. The interest rate example above is based off the highest possible rate on a co-signed application.

SEE BACK OF PAGE


Page 2 of 2


Federal Loan Alternatives

Loan Program Current Interest Rates by Program Type
PERKINS
for Students
Program not currently available.
STAFFORD
for Students
3.730% fixed   Undergraduate Subsidized & Unsubsidized
5.280% fixed   Graduate and Professional Unsubsidized
PLUS
for Parents and Graduate/ Professional Students
6.280% fixed Federal Direct Loan  
You may qualify for Federal education loans.
For additional information, contact your school's financial aid office or the Department of Education at: https://studentaid.ed.gov/sa/.
Note also that during the COVID-19 national emergency, rates are temporarily set at 0%. For more information see https://studentaid.gov/understand-aid/types/loans/interest-rates .
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: https://studentaid.ed.gov/sa/ for more information about other loans.

  2. To Apply for this Loan, Complete the Application and the Self-Certification Form.
    You may get the certification form from your school's financial aid office. If you are approved for this loan, the loan terms will be available for 30 days (terms will not change during this period, except as permitted by law. The interest rate on this loan is fixed and will not change.)
REFERENCE NOTES
Fixed Interest Rate
  • This loan has a fixed interest rate.
  • The incentives referenced above are based on selecting the "pay only the interest" or "make full payments" repayment options during the application process. The reduced rate will be disclosed as part of subsequent disclosures. If the required payments are not made, the interest rate reduction incentive will be removed.
Eligibility Criteria
  • Borrower and/or cosigner must be US citizens or a permanenet resident alien.
  • Borrower must be at least the age of majority in his or her state of residence or be at least 17 years old and apply with a creditworthy cosigner who is the age of majority (18 years in most states, 19 years in Alabama and Nebraska, 21 years in Puerto Rico and Mississippi).
  • Borrower must be enrolled at least half time at an eligible school.
  • Both borrower and cosigner are subject to credit approval. Additional documentation may be required.
  • The interest rate will be based on your credit history or the credit history of your cosigner. Applying without a cosigner typically results in a higher rate.
  • The borrower on an individual application and the creditworthy cosigner on a joint application must have current employment and a minimum annual income of at least $30,000.
Bankruptcy Limitations
  • If you file for bankruptcy you may still be required to pay back this loan.
    More information about loan eligibility and repayment deferral or forbearance options is available in your loan application and Promissory Note.

Variable Rate Application and Solicitation Disclosure

Loan Interest Rate & Fees


New Hampshire Higher Education Loan Corporation
4 Barrell Court
PO Box 2111
Concord, NH 03302


Your starting interest rate will be between

2.850%
and
6.850%

After the starting rate is set, your rate will then vary with the market.

Your Interest Rate (upon approval)
The starting Interest Rate you pay will be determined after you apply. If you are the sole applicant, the rate will be established based on your credit profile, the repayment term, and the repayment option you select. If you apply with a cosigner, the rate will be established based on the cosigner's credit profile, the repayment term, and repayment option you select. If approved, we will notify you of the rates you qualify for within the stated range.

Your Interest Rate during the life of the loan
Your rate is variable. This means that your actual rate varies with the market and could be lower or higher than the rate on this form. The variable rate is based upon the 1-Month CME Term SOFR index, whicch is a reference rate published on the website of the CME Group. For more information on this rate, see Reference Notes.

Although the rate will vary after you are approved, it will never exceed 21.000% (the maximum allowable for this loan).

Loan Fees
Origination Fee: 0.000% 
Late Charges: 5.000% of the scheduled monthly payment.
Collection and Default Charges: 
In the event of a default, the borrower may incur additional collection charges as permitted under applicable law.

Loan Cost Example

The total amount you will pay for this loan will vary depending upon when you start to repay it. This example provides estimates based upon three (3) repayment options available to you while enrolled in school. Please note that if you select the "Make full payments" option, you will not receive a grace period upon leaving school or dropping below half time enrollment. 
Repayment Option
(while enrolled in school)
Amount Provided
(amount provided directly to you or your school)
Interest Rate
(highest possible starting rate)
Loan Term
(how long you have to pay off the loan)
Total Paid
over 15 years

DEFER PAYMENTS
Make no payments while enrolled in school. Interest will accrue and unpaid accrued interest will be added to your principal balance when you enter repayment.
$10,000.00 6.850% 180 months

starting after the deferment period
$21,099.60
PAY ONLY THE INTEREST
Make interest payments but defer payments on the principal amount while enrolled in school. By selecting this option, your rate includes a 0.5% interest rate incentive. See Reference Notes for more details.
$10,000.00 6.350% 180 months

starting after the deferment period
$18,516.42
MAKE FULL PAYMENTS
Make principal and interest payments while enrolled in school. By selecting this option, your rate includes a 1% interest rate incentive. See Reference Notes for more details.
$10,000.00 5.850% 180 months

starting after the final disbursement
$15,152.40
About this example
The repayment example assumes you remain in school for forty-eight (48) months and have a six (6) month grace period prior to entering repayment. The repayment example is based on the highest starting rate currently charged and associated fees. The interest rate example above is based off the highest possible rate on an individual application.
SEE BACK OF PAGE


Page 2 of 2

Federal Loan Alternatives
Loan Program Current Interest Rates by Program Type
PERKINS
for Students
Program not currently available.
STAFFORD
for Students
3.730% fixed   Undergraduate Subsidized & Unsubsidized
5.280% fixed   Graduate and Professional Unsubsidized
PLUS
for Parents and Graduate/ Professional Students
6.280% fixed Federal Direct Loan  
You may qualify for Federal education loans.
For additional information, contact your school's financial aid office or the Department of Education at: https://studentaid.ed.gov/sa/ .
Note also that during the COVID-19 national emergency, rates are temporarily set at 0%. For more information see https://studentaid.gov/understand-aid/types/loans/interest-rates .
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: https://studentaid.ed.gov/sa/ for more information about other loans.

  2. To Apply for this Loan, Complete the Application and the Self-Certification Form.
    You may get the certification form from your school's financial aid office. If you are approved for this loan, the loan terms will be available for 30 days (terms will not change during this period, except as permitted by law and the variable interest rate may change based on the market.)
REFERENCE NOTES
Variable Interest Rate
  • This loan has a variable interest rate that is based on a publicly available index, the 1-Month CME Term SOFR ("SOFR"). Your rate will be calculate each month by adding a "margin" to the SOFR index (with the sum being rounded to the nearest 1/8th of one percent).
  • The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Your rate will never exceed 21.000%.
Eligibility Criteria
  • Borrower and/or cosigner must be US citizens or a permanenet resident alien.
  • Borrower must be at least the age of majority in his or her state of residence or be at least 17 years old and apply with a creditworthy cosigner who is the age of majority (18 years in most states, 19 years in Alabama and Nebraska, 21 years in Puerto Rico and Mississippi).
  • Borrower must be enrolled at least half time at an eligible school.
  • Both borrower and cosigner are subject to credit approval. Additional documentation may be required.
  • The interest rate will be based on your credit history or the credit history of your cosigner. Applying without a cosigner typically results in a higher rate.
  • The borrower on an individual application and the creditworthy cosigner on a joint application must have current employment and a minimum annual income of at least $30,000.
Bankruptcy Limitations
  • If you file for bankruptcy you may still be required to pay back this loan.
    More information about loan eligibility and repayment deferral or forbearance options is available in your loan application and Promissory Note.




Notice for students attending an institute of higher education in Virginia
Private education loans are one tool that students use to finance their education. Your lender and your institution's Financial Aid Office provide assistance with eligibility for the loans. For borrowers who have existing private education loans, Virginia has a Student Loan Advocate to assist borrowers who are struggling with repayment. You can contact the Student Loan Advocate at: State Council of Higher Education for Virginia, James Monroe Building, 10th Floor, 101 N. 14th Street, Richmond, VA 23219; studentloan@schev.edu; 804-786-2832. In addition, resources for prospective and current private education loan borrowers are available online at schev.edu/privateloan.