PNC Solution Loan for Undergraduates
Fixed Rate Application and Solicitation Disclosure
Loan Interest Rate & Fees
 PNC Bank, National Association
500 First Avenue
Pittsburgh, PA 15219
877-793-9793
Your interest rate will be between

7.190%
and
14.940%

After the starting 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 (and your cosigner’s if applicable) and your selected repayment term and option. If approved, we will notify you of the rate you qualify for within the stated range.

Your Interest Rate during the life of the loan
Your rate is fixed 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%.  
Late Fees: 5.000% of the past due amount or $5.00, whichever is less. 
Collection and Default Charges:  In the event of a default, the borrower may incur additional collection charges as permitted under applicable law.
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
(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
Loan Term
(includes associated fees)
  1. 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 5 Year Term: 13.740%
10 Year Term: 14.540%
15 Year Term: 14.940%		 5 Years
10 Years
15 Years

starting after the deferment period		 5 Year Term: $22,699.20
10 Year Term: $31,814.40
15 Year Term: $42,472.80
  1. PAY ONLY THE INTEREST
    Make interest payments but defer payments on the principal amount while enrolled in school.
 $10,000 5 Year Term: 13.540%
10 Year Term: 14.340%
15 Year Term: 14.740%		 5 Years
10 Years
15 Years

starting after the deferment period		 5 Year Term: $19,534.56
10 Year Term: $25,019.28
15 Year Term: $31,285.68
  1. MAKE FULL PAYMENTS
    Make principal and interest payments while enrolled in school.
 $10,000 5 Year Term: 12.440%
10 Year Term: 14.040%
15 Year Term: 14.390%		 5 Years
10 Years
15 Years

starting after the deferment period		 5 Year Term: $13,687.20
10 Year Term: $18,984.00
15 Year Term: $24,877.80

About this example

The loan cost example assumes you remain in school for four (4) years and have a six (6) month grace period prior to entering repayment for the Defer Payments option. The example is based on the highest interest rate currently charged and the loan term shown above and assumes the timely receipt of your payments The actual loan cost will vary depending on the terms of credit for which you are approved.


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Page 2 of 4

Federal Loan Alternatives
Loan Program Current Interest Rates by Program Type
PERKINS
for Students		 Program not currently available
STAFFORD
for Students		 5.500%  fixed   Undergraduate subsidized & unsubsidized
7.050%  fixed   Graduate
PLUS
for Parents and Graduate/ Professional Students		 8.050%  fixed
    You may qualify for Federal education loans. For additional information, contact your school's financial aid office or the Department of Education at:
    studentaid.gov
Next Steps
  1. Find Out About Other Loan Options.
    Some schools have school-specific student loan benefits and terms not detailed on this form. Contact your school's financial aid office or visit the Department of Education's website at: studentaid.gov for more information about other loans.

  2. To Apply for this Loan, Complete the Application and the Self-Certification Form.
    You may get the certification form from your school's financial aid office. If you are approved for this loan, the loan terms will be available for 30 days (terms will not change during this period, except as permitted by law. The interest rate on this loan is fixed and will not change.).
REFERENCE NOTES
Fixed Interest Rate

  • This loan has a fixed interest rate.
  • Applying without a cosigner typically results in a higher rate.
Eligibility Criteria
  • Borrower and cosigner, if applicable, must be US citizens or permanent resident aliens.
  • Borrower must be at least the age of majority in his or her state of residence or be at least 17 years old and apply with a creditworthy cosigner who is the age of majority.
  • Borrower must be enrolled at least half time and in an eligible program.
  • Both borrower and cosigner, if applicable, are subject to credit approval. Additional documentation may be required.
  • The borrower on an individual application and the cosigner on a joint application must have an employment history of at least two years.
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 loan agreement.

Page 3 of 4
PNC Solution Loan for Undergraduates
Variable Rate Application and Solicitation Disclosure
Loan Interest Rate & Fees
 PNC Bank, National Association
500 First Avenue
Pittsburgh, PA 15219
877-793-9793
Your starting interest rate will be between

8.940%
and
16.690%

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 will pay will be determined after you apply. The rate will be established based on your credit history (and your cosigner’s if applicable) and your selected repayment term. If approved, we will notify you of the rate you qualify for within the stated range.

Your Interest Rate during the life of the loan
Your rate is variable. This means that your 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 Prime Rate as published in the "Money Rates" section of The Wall Street Journal (Eastern Edition) on the first business day of the immediately preceding calendar month. For more information on this rate, see Reference Notes.

Although the rate will vary after you are approved, it will never exceed 18.000% (the maximum allowable for this loan).

Loan Fees

Origination Fee: 0%.  
Late Fees: 5.000% of the past due amount or $5.00, whichever is less. 
Collection and Default Charges:  In the event of a default, the borrower may incur additional collection charges as permitted under applicable law.
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
(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
Loan Term
(includes associated fees)
  1. 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 5 Year Term: 15.490%
10 Year Term: 16.290%
15 Year Term: 16.690%		 5 Years
10 Years
15 Years

starting after the deferment period		 5 Year Term: $24,763.80
10 Year Term: $35,625.60
15 Year Term: $48,384.00
  1. PAY ONLY THE INTEREST
    Make interest payments but defer payments on the principal amount while enrolled in school.
 $10,000 5 Year Term: 15.290%
10 Year Term: 16.090%
15 Year Term: 16.490%		 5 Years
10 Years
15 Years

starting after the deferment period		 5 Year Term: $20,843.16
10 Year Term: $27,095.52
15 Year Term: $34,284.48
  1. MAKE FULL PAYMENTS
    Make principal and interest payments while enrolled in school.
 $10,000 5 Year Term: 14.190%
10 Year Term: 15.790%
15 Year Term: 16.140%		 5 Years
10 Years
15 Years

starting after the deferment period		 5 Year Term: $14,265.00
10 Year Term: $20,332.80
15 Year Term: $27,142.20

About this example
The loan cost example assumes you remain in school for four (4) years and have a six (6) month grace period prior to entering repayment for the Defer Payments option. The example is based on the highest starting rate currently charged and the loan term shown above and assumes the timely receipt of your payments The actual loan cost will vary depending on the terms of credit for which you are approved.

SEE BACK OF PAGE

Page 4 of 4

Federal Loan Alternatives
Loan Program Current Interest Rates by Program Type
PERKINS
for Students		 Program not currently available
STAFFORD
for Students		 5.500%  fixed   Undergraduate subsidized & unsubsidized
7.050%  fixed   Graduate
PLUS
for Parents and Graduate/ Professional Students		 8.050%  fixed
    You may qualify for Federal
    education loans.     For additional information, contact your school's financial aid office or the Department of Education at:
    studentaid.gov
Next Steps
  1. Find Out About Other Loan Options.
    Some schools have school-specific student loan benefits and terms not detailed on this form. Contact your school's financial aid office or visit the Department of Education's website at: studentaid.gov for more information about other loans.

  2. To Apply for this Loan, Complete the Application and the Self-Certification Form.
    You may get the certification form from your school's financial aid office. If you are approved for this loan, the loan terms will be available for 30 days (terms will not change during this period, except as permitted by law and the variable interest rate may change based on the market).
REFERENCE NOTES
Variable Interest Rate

  • The variable interest rate is based upon the Prime Rate index plus a margin of  0.440% to 8.190% based on creditworthiness, and may be adjusted monthly.
  • 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 18.000%.
  • Applying without a cosigner typically results in a higher rate.
Eligibility Criteria
  • Borrower and cosigner, if applicable, must be US citizens or permanent resident aliens.
  • Borrower must be at least the age of majority in his or her state of residence or be at least 17 years old and apply with a creditworthy cosigner who is the age of majority.
  • Borrower must be enrolled at least half time and in an eligible program.
  • Both borrower and cosigner, if applicable, are subject to credit approval. Additional documentation may be required.
  • The borrower on an individual application and the cosigner on a joint application must have an employment history of at least two years.
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 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.