INvestEd
Fixed Rate Application and Solicitation Disclosure

Loan Interest Rate & Fees
INvestEd
11595 N. Meridian St.
Suite 200
Carmel, IN 46032
(717) 254-2384

Your interest rate will be between

5.490%
and
10.220%

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

Your Interest Rate (upon approval)
The interest rate you will pay will be determined after you apply. The rate will be established based on your credit history (or your cosigner’s if applicable), repayment term, and the repayment option you elect. 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 past due amount or $10.00, whichever is less. 
Collection and Default Charges: In the event of a default, the borrower may incur additional collection charges as permitted under applicable law.

Loan Cost Examples

The total amount you will pay for this loan will vary depending upon when you start to repay it. This example provides estimates based upon three (3) repayment options available to you while enrolled in school.

Repayment Option
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 entire loan term (includes associated fees)
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 10.220% 180 months

starting after the deferment period
$28,846.80
PAY ONLY THE INTEREST
Make interest payments but defer payments on the principal amount while enrolled in school. Interest will accrue and may not be deferred.
$10,000.00 9.570% 180 months

starting after the deferment period
$22,947.72
MAKE FULL PAYMENTS Make principal and interest payments while enrolled in school. $10,000.00 9.170% 180 months


starting after the final disbursement
$18,648.00

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 rate provided above.


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Page 2 of 5


Federal Loan Alternatives

Loan Program Current Interest Rates by Program Type
PERKINS
for Students
Program not currently available
STAFFORD
for Students
4.990% Fixed Undergraduate Subsidized & Unsubsidized
6.540% Fixed Graduate
PLUS
for Parents and Graduate/ Professional Students
7.540% Fixed
You may qualify for Federal
education loans.
For additional information, contact the school's financial aid office or the Department of Education at:
https://studentaid.ed.gov
Next Steps

  1. Find Out About Other Loan Options.
    Some schools have school-specific student loan benefits and terms not detailed on this form. Contact the 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 the 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 and based on creditworthiness, repayment option, and repayment term selected.
Eligibility Criteria
  • Borrower and cosigner must be US citizens or a permanent resident alien.
  • Borrower and cosigner must be 18 years of age or the age of majority in your state of permanent residence.
  • Borrower must be enrolled at least half time at an eligible institution.
  • Both borrower and cosigner are subject to credit approval. Additional documentation may be required.
  • Applying without a cosigner typically results in a higher rate.
Bankruptcy Limitations
  • If you file for bankruptcy you may still be required to pay back this loan.
Prepayments
  • If you choose to prepay your principal at any time, you will not be changed a prepayment penalty.
More information about loan eligibility and repayment deferral or forbearance options is available in your loan application and loan agreement.

Page 3 of 5

INvestEd
Variable Rate Application and Solicitation Disclosure

Loan Interest Rate & Fees
INvestEd
11595 N. Meridian St.
Suite 200
Carmel, IN 46032
(717) 254-2384

Your starting interest rate will be between

3.168%
and
7.628%

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

Your Starting Interest Rate (upon approval)
The starting Interest Rate you pay will be determined after you apply. The rate will be established based on your credit history (or your cosigner’s if applicable), repayment term, and the repayment option you elect. 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 on the three-month forward-term version of the 90-day average Secured Overnight Financing Rate (SOFR). 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 past due amount or $10.00, whichever is less. 
Collection and Default Charges: 
In the event of a default, the borrower may incur additional collection charges as permitted under applicable law.

Loan Cost Examples

The total amount you will pay for this loan will vary depending upon when you start to repay it. This example provides estimates based upon three (3) repayment options available to you while enrolled in school.

Repayment Option
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 entire loan term (includes associated fees)
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 7.628% 180 months

starting after the deferment period
$22,753.80
PAY ONLY THE INTEREST
Make interest payments but defer payments on the principal amount while enrolled in school. Interest will accrue and may not be deferred.
$10,000.00 6.978% 180 months

starting after the deferment period
$19,098.00
MAKE FULL PAYMENTS
Make principal and interest payments while enrolled in school.
$10,000.00 6.578% 180 months

starting after the final disbursement
$15,885.00

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.


SEE BACK OF PAGE


Page 4 of 5


Federal Loan Alternatives

Loan Program Current Interest Rates by Program Type
PERKINS
for Students
Program not currently available
STAFFORD
for Students
4.990% Fixed Undergraduate Subsidized & Unsubsidized
6.540% Fixed Graduate
PLUS
for Parents and Graduate/ Professional Students
7.540% Fixed
You may qualify for Federal
education loans.
For additional information, contact the school's financial aid office or the Department of Education at:
https://studentaid.ed.gov/sa/
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 the 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 the 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
  • The variable interest rate is based on the three-month forward-term version of the 90-day average Secured Overnight Financing Rate (SOFR), plus a margin of  2.640% to 7.100% based on creditworthiness, repayment option, and repayment term selected, and is adjusted quarterly.
  • The rate will not increase more than once a quarter, but there is no limit on the amount that the rate could increase at one time. Your rate will never exceed 21%.
  • If the Interest Rate increases, your monthly payments will be higher.
  • The Interest Rate may be higher or lower than your Annual Percentage Rate (APR) because the APR considers certain fees you pay to obtain this loan and the Interest Rate.
  • You can take advantage of a 0.25% interest rate reduction by setting up and maintaining active and automatic ACH monthly withdrawals of the loan payment. If an automatic ACH withdrawal is rejected by your bank for any reason, you may lose the rate reduction permanently.
Eligibility Criteria
  • Borrower and cosigner must be US citizens or a permanent resident alien.
  • Borrower and cosigner must be 18 years of age or the age of majority in your state of permanent residence.
  • Borrower must be enrolled at least half time at an eligible institution.
  • Both borrower and cosigner are subject to credit approval. Additional documentation may be required.
  • Applying without a cosigner typically results in a higher rate.
Bankruptcy Limitations
  • If you file for bankruptcy you may still be required to pay back this loan.
Prepayments
  • If you choose to prepay your principal at any time, you will not be changed a prepayment penalty.
More information about loan eligibility and repayment deferral or forbearance options is available in your loan application and loan agreement.












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.