# Appendix D

# Direct Loan Forms

# Sample Master Promissory Note Manifest

Report Date: 99/99/9999 U.S. DEPARTMENT OF EDUCATION Page: 99

Report Time: 99:99:99 Federal Direct Loan Program

Promissory Note Shipping Manifest

THIS DOCUMENT CONTAINS SENSITIVE INFORMATION PROTECTED BY THE PRIVACY
ACT

\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*

PROMISSORY NOTE SHIPPING BATCH NUMBER: #AX99999999999999999999

BORROWER'S NAME MPN ID

STUDENT'S CURRENT SSN

\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\--
\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\--

XXXXXXXXXXXXXXXX, XXXXXXXXXXXX X 999999999M99999999999

XXXXXXXXXXXXXXXX, XXXXXXXXXXXX X

999999999

ABCDEFGHIJKLMNOP, QRSTUVWXYZAB Z 999999999M99999999999

XXXXXXXXXXXXXXXX, XXXXXXXXXXXX X

999999999

BCDEFGHIJKLMNOPQ, RSTUVWXYZABC A 999999999M99999999999

XXXXXXXXXXXXXXXX, XXXXXXXXXXXX X

999999999

NUMBER OF NOTES FOR SHIPPING \_\_\_\_\_\_\_\_\_\_\_\_

I hereby certify that each borrower named on the enclosed
notes/disclosures is accepted for enrollment on at least a half-time
basis and is making satisfactory progress in a program that is eligible
for the loan type(s) awarded. I certify that each student is an eligible
borrower in accordance with the Act. I further certify that each
borrower\'s eligibility for a Pell Grant has been determined, that each
borrower is not incarcerated, and that each borrower has been determined
eligible for loan(s) in the amount(s) certified. I further certify that
the disbursement schedules comply with the requirements of the Act and
hereby authorize the Department of Education to adjust disbursement
dates if necessary to ensure compliance with the Act. I further certify
that, based on records available and due inquiry, each borrower has met
the requirements of the Selective Service Act, that each borrower is not
liable for an overpayment of any Federal grant made under the Act, and
that the information provided in the Borrower and the School sections of
the promissory notes/disclosures (including information supplied in
electronic format) is true, complete and accurate to the best of my
knowledge and belief.

SCHOOL CODE: X99999 NAME: XXXXXXXXXTXXXXXXXXXTXXXXXXXXXTXXXXX

SIGNATURE:\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_

FAA NAME: XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

## Sample PLUS Manifest

Report Date: 99/99/9999 U.S. DEPARTMENT OF EDUCATION Page: 99

Report Time: 99:99:99 Federal Direct Loan Program

Promissory Note Shipping Manifest

THIS DOCUMENT CONTAINS SENSITIVE INFORMATION PROTECTED BY THE PRIVACY
ACT

\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*\*

PROMISSORY NOTE SHIPPING BATCH NUMBER: #AX99999999999999

BORROWER'S NAME LOAN ID

STUDENT'S NAME

STUDENT'S CURRENT SSN

\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\--
\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\--

XXXXXXXXXXXXXXXX, XXXXXXXXXXXX X 999999999X99999999999

XXXXXXXXXXXXXXXX, XXXXXXXXXXXX X

999999999

ABCDEFGHIJKLMNOP, QRSTUVWXYABC Z 999999999X99999999999

XXXXXXXXXXXXXXXX, XXXXXXXXXXXX X

999999999

BCDEFGHIJKLMNOPQ, RSTUVWXYZABC A 999999999X99999999999

XXXXXXXXXXXXXXXX, XXXXXXXXXXXX X

999999999

NUMBER OF NOTES FOR SHIPPING \_\_\_\_\_\_\_\_\_\_\_\_

I hereby certify that each student named on the enclosed

applications/promissory notes is accepted for enrollment on at least a
half-

time basis and is making satisfactory progress in a program that is
eligible

for the loan type certified. I certify that each borrower is an eligible

borrower in accordance with the Act and has been determined eligible for
a

loan in the amount certified. I further certify that the disbursement

schedules comply with the requirements of the Act and hereby authorize
the Department of Education to adjust disbursement dates if necessary to
ensure compliance with the Act. I further certify that, based on records
available

and due inquiry, each student has met the requirements of the Selective

Service Act, that each student is not liable for an overpayment of any

Federal grant made under the Act, and that the information provided in
the Borrower, Student and School sections of the applications/promissory
notes (including information supplied in electronic format) is true,
complete and accurate to the best of my knowledge and belief.

SCHOOL CODE: X99999 NAME: XXXXXXXXXTXXXXXXXXXTXXXXXXXXXTXXXXX

SIGNATURE:\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_

FAA NAME: XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

## Disclosure Statements

**Disclosure Statement**

The Disclosure Statement for 2001-2002 incorporates the up-front
interest rebate. Disbursements 1 through 10 print in the left column.
Disbursements 11 through 20 print in the right column.

**Sample Disclosure Statement Printed by EDExpress**

The Sample Disclosure Statement to be printed by EDExpress for 2001-2002
incorporates the up-front interest rebate. We have provided two
examples: one with four disbursements and one displaying 20
disbursements.

**New for 2001-2002**: EDExpress can print up to 20 anticipated
disbursements. Disbursements 1 through 10 print in the left column.
Disbursements 11 through 20 printed in the right column.

**Plain Language Disclosure**

The Plain Language Disclosure for 2001-2002 incorporates the up-front
interest rebate and is provided on the following pages.

+-----------------------------------------------------------------------+
| ##  Borrower Information                                              |
|                                                                       |
| ## 1. Name (last, 1. Name and Address 2. Date of Disclosure Statement |
|                                                                       |
| 08/01/2001                                                            |
|                                                                       |
| Testloan, Student A.                                                  |
|                                                                       |
| 4200 Wi 123 Main Street **3. Area Code/Telephone Number**             |
|                                                                       |
| Arlingt Arlington, VA 22033                                           |
|                                                                       |
| \(703\) 741-9999                                                      |
+-----------------------------------------------------------------------+

##### School Information

4\. School Name and Address 5. School Code/Branch

+------------------------------------------------+---------------------+
| Direct Loan University                         |                     |
+------------------------------------------------+---------------------+
| 12345 Loan Road                                | G99999              |
|                                                |                     |
| Fairfax, VA 22222                              |                     |
+------------------------------------------------+---------------------+

##### Loan Information

**6.** Loan Identification Number(s) 7. Loan Period(s) 8. Loan Fee %

  --------------------------- ------------------------ ------------------
  111222333S02G99999001       09/01/2001 -- 7/15/2002  3.000 %

  111222333U02G99999001       09/01/2001 -- 7/15/2002  3.000 %
  --------------------------- ------------------------ ------------------

+-----------------------------------------------------------------------+
| **9. Information about the loan(s) that your school plans to disburse |
| (pay out) follows. This information is explained in detail on the**   |
|                                                                       |
| **back. The actual disbursement dates and amounts may be different    |
| than the dates and amounts shown below. Your school and the**         |
|                                                                       |
| **Direct Loan Servicing Center will notify you of the actual          |
| disbursement dates and amounts.**                                     |
+-----------------------------------------------------------------------+

+----------+---------+---+-------------+---+---------+---+------------+
| **       | **Gross |   | **Loan Fee  | * |         |   | **Net Loan |
| Direct** | Loan    |   | Amount +**  | * |         |   | Amount**   |
|          | Amount  |   |             | I |         |   |            |
| **Subs   | -**     |   | \$120.00 +  | n |         |   | \$3940.00  |
| idized** |         |   |             | t |         |   |            |
|          | \$      |   |             | e |         |   |            |
|          | 4000.00 |   |             | r |         |   |            |
|          | -       |   |             | e |         |   |            |
|          |         |   |             | s |         |   |            |
|          |         |   |             | t |         |   |            |
|          |         |   |             | R |         |   |            |
|          |         |   |             | e |         |   |            |
|          |         |   |             | b |         |   |            |
|          |         |   |             | a |         |   |            |
|          |         |   |             | t |         |   |            |
|          |         |   |             | e |         |   |            |
|          |         |   |             | A |         |   |            |
|          |         |   |             | m |         |   |            |
|          |         |   |             | o |         |   |            |
|          |         |   |             | u |         |   |            |
|          |         |   |             | n |         |   |            |
|          |         |   |             | t |         |   |            |
|          |         |   |             | = |         |   |            |
|          |         |   |             | * |         |   |            |
|          |         |   |             | * |         |   |            |
|          |         |   |             |   |         |   |            |
|          |         |   |             | \ |         |   |            |
|          |         |   |             | $ |         |   |            |
|          |         |   |             | 6 |         |   |            |
|          |         |   |             | 0 |         |   |            |
|          |         |   |             | . |         |   |            |
|          |         |   |             | 0 |         |   |            |
|          |         |   |             | 0 |         |   |            |
|          |         |   |             | = |         |   |            |
+----------+---------+---+-------------+---+---------+---+------------+
| **Loan** |         |   |             |   |         |   |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | **Your  |   |             |   |         |   |            |
|          | school  |   |             |   |         |   |            |
|          | plans   |   |             |   |         |   |            |
|          | to      |   |             |   |         |   |            |
|          | d       |   |             |   |         |   |            |
|          | isburse |   |             |   |         |   |            |
|          | the Net |   |             |   |         |   |            |
|          | Loan    |   |             |   |         |   |            |
|          | Amount  |   |             |   |         |   |            |
|          | as      |   |             |   |         |   |            |
|          | fol     |   |             |   |         |   |            |
|          | lows:** |   |             |   |         |   |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | *       | * |             |   | *       | * |            |
|          | *Date** | * |             |   | *Date** | * |            |
|          |         | N |             |   |         | N |            |
|          |         | e |             |   |         | e |            |
|          |         | t |             |   |         | t |            |
|          |         | D |             |   |         | D |            |
|          |         | i |             |   |         | i |            |
|          |         | s |             |   |         | s |            |
|          |         | b |             |   |         | b |            |
|          |         | u |             |   |         | u |            |
|          |         | r |             |   |         | r |            |
|          |         | s |             |   |         | s |            |
|          |         | e |             |   |         | e |            |
|          |         | m |             |   |         | m |            |
|          |         | e |             |   |         | e |            |
|          |         | n |             |   |         | n |            |
|          |         | t |             |   |         | t |            |
|          |         | A |             |   |         | A |            |
|          |         | m |             |   |         | m |            |
|          |         | o |             |   |         | o |            |
|          |         | u |             |   |         | u |            |
|          |         | n |             |   |         | n |            |
|          |         | t |             |   |         | t |            |
|          |         | * |             |   |         | * |            |
|          |         | * |             |   |         | * |            |
+----------+---------+---+-------------+---+---------+---+------------+
| **(Va    | 09/     | \ |             |   | 02/     | \ |            |
| riable** | 01/2001 | $ |             |   | 01/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
| **In     | 09/     | \ |             |   | 02/     | \ |            |
| terest** | 15/2001 | $ |             |   | 15/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
| *        | 10/     | \ |             |   | 03/     | \ |            |
| *Rate)** | 01/2001 | $ |             |   | 01/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | 10/     | \ |             |   | 03/     | \ |            |
|          | 15/2001 | $ |             |   | 15/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | 11/     | \ |             |   | 04/     | \ |            |
|          | 01/2001 | $ |             |   | 01/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | 11/     | \ |             |   | 04/     | \ |            |
|          | 15/2001 | $ |             |   | 15/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | 12/     | \ |             |   | 05/     | \ |            |
|          | 01/2001 | $ |             |   | 01/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | 12/     | \ |             |   | 05/     | \ |            |
|          | 15/2001 | $ |             |   | 15/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | 01/     | \ |             |   | 06/     | \ |            |
|          | 01/2002 | $ |             |   | 01/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | 01/     | \ |             |   | 06/     | \ |            |
|          | 15/2002 | $ |             |   | 15/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+

+----------+---------+---+-------------+---+---------+---+------------+
| **       | **Gross |   | **Loan Fee  | * |         |   | **Net Loan |
| Direct** | Loan    |   | Amount +**  | * |         |   | Amount**   |
|          | Amount  |   |             | I |         |   |            |
| **Unsubs | -**     |   | \$120.00 +  | n |         |   | \$3940.00  |
| idized** |         |   |             | t |         |   |            |
|          | \$      |   |             | e |         |   |            |
|          | 4000.00 |   |             | r |         |   |            |
|          | -       |   |             | e |         |   |            |
|          |         |   |             | s |         |   |            |
|          |         |   |             | t |         |   |            |
|          |         |   |             | R |         |   |            |
|          |         |   |             | e |         |   |            |
|          |         |   |             | b |         |   |            |
|          |         |   |             | a |         |   |            |
|          |         |   |             | t |         |   |            |
|          |         |   |             | e |         |   |            |
|          |         |   |             | A |         |   |            |
|          |         |   |             | m |         |   |            |
|          |         |   |             | o |         |   |            |
|          |         |   |             | u |         |   |            |
|          |         |   |             | n |         |   |            |
|          |         |   |             | t |         |   |            |
|          |         |   |             | = |         |   |            |
|          |         |   |             | * |         |   |            |
|          |         |   |             | * |         |   |            |
|          |         |   |             |   |         |   |            |
|          |         |   |             | \ |         |   |            |
|          |         |   |             | $ |         |   |            |
|          |         |   |             | 6 |         |   |            |
|          |         |   |             | 0 |         |   |            |
|          |         |   |             | . |         |   |            |
|          |         |   |             | 0 |         |   |            |
|          |         |   |             | 0 |         |   |            |
|          |         |   |             | = |         |   |            |
+----------+---------+---+-------------+---+---------+---+------------+
| **Loan** |         |   |             |   |         |   |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | **Your  |   |             |   |         |   |            |
|          | school  |   |             |   |         |   |            |
|          | plans   |   |             |   |         |   |            |
|          | to      |   |             |   |         |   |            |
|          | d       |   |             |   |         |   |            |
|          | isburse |   |             |   |         |   |            |
|          | the Net |   |             |   |         |   |            |
|          | Loan    |   |             |   |         |   |            |
|          | Amount  |   |             |   |         |   |            |
|          | as      |   |             |   |         |   |            |
|          | fol     |   |             |   |         |   |            |
|          | lows:** |   |             |   |         |   |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | *       | * |             |   | *       | * |            |
|          | *Date** | * |             |   | *Date** | * |            |
|          |         | N |             |   |         | N |            |
|          |         | e |             |   |         | e |            |
|          |         | t |             |   |         | t |            |
|          |         | D |             |   |         | D |            |
|          |         | i |             |   |         | i |            |
|          |         | s |             |   |         | s |            |
|          |         | b |             |   |         | b |            |
|          |         | u |             |   |         | u |            |
|          |         | r |             |   |         | r |            |
|          |         | s |             |   |         | s |            |
|          |         | e |             |   |         | e |            |
|          |         | m |             |   |         | m |            |
|          |         | e |             |   |         | e |            |
|          |         | n |             |   |         | n |            |
|          |         | t |             |   |         | t |            |
|          |         | A |             |   |         | A |            |
|          |         | m |             |   |         | m |            |
|          |         | o |             |   |         | o |            |
|          |         | u |             |   |         | u |            |
|          |         | n |             |   |         | n |            |
|          |         | t |             |   |         | t |            |
|          |         | * |             |   |         | * |            |
|          |         | * |             |   |         | * |            |
+----------+---------+---+-------------+---+---------+---+------------+
| **(Va    | 09/     | \ |             |   | 02/     | \ |            |
| riable** | 01/2001 | $ |             |   | 01/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
| **In     | 09/     | \ |             |   | 02/     | \ |            |
| terest** | 15/2001 | $ |             |   | 15/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
| *        | 10/     | \ |             |   | 03/     | \ |            |
| *Rate)** | 01/2001 | $ |             |   | 01/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | 10/     | \ |             |   | 03/     | \ |            |
|          | 15/2001 | $ |             |   | 15/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | 11/     | \ |             |   | 04/     | \ |            |
|          | 01/2001 | $ |             |   | 01/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | 11/     | \ |             |   | 04/     | \ |            |
|          | 15/2001 | $ |             |   | 15/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | 12/     | \ |             |   | 05/     | \ |            |
|          | 01/2001 | $ |             |   | 01/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | 12/     | \ |             |   | 05/     | \ |            |
|          | 15/2001 | $ |             |   | 15/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | 01/     | \ |             |   | 06/     | \ |            |
|          | 01/2002 | $ |             |   | 01/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+
|          | 01/     | \ |             |   | 06/     | \ |            |
|          | 15/2002 | $ |             |   | 15/2002 | $ |            |
|          |         | 1 |             |   |         | 1 |            |
|          |         | 9 |             |   |         | 9 |            |
|          |         | 7 |             |   |         | 7 |            |
|          |         | . |             |   |         | . |            |
|          |         | 0 |             |   |         | 0 |            |
|          |         | 0 |             |   |         | 0 |            |
+----------+---------+---+-------------+---+---------+---+------------+

Disclosure Statement (continued)

This Disclosure Statement provides information about the Direct
Subsidized Loan and/or Direct Unsubsidized Loan that your school plans
to disburse (pay out) by crediting your student account, paying you
directly, or both. It replaces any Disclosure Statements that you may
have received previously for the same loan(s). Keep this Disclosure
Statement for your records.

You must have signed a Master Promissory Note (MPN) before your loan
money is disbursed. The MPN, the Borrower\'s Rights and Responsibilities
statement, and the Plain Language Disclosure explain the terms of your
loan(s). If you have any questions about your MPN or this Disclosure
Statement, contact your school.

Item 9 on the front of this Disclosure Statement provides the following
information about the amount of each loan that your school plans to
disburse to you:

-   **Gross Loan Amount\--**This is the total amount of the loan that
    you are borrowing. You will be responsible for repaying this amount.

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-   **Loan Fee Amount\--**This is the amount of the fee that we charge
    on your loan. It is based on a percentage of your Gross Loan Amount.
    The percentage is shown in Item 8. The Loan Fee Amount will be
    subtracted from your Gross Loan Amount.

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-   **Interest Rebate Amount\--**This is the amount of an up-front
    interest rebate that you may receive as part of a program to
    encourage timely repayment of Direct Loans. If you receive a rebate,
    the Interest Rebate Amount will be added back after the Loan Fee
    Amount is subtracted.

To keep an up-front interest rebate that you receive on your loan, you
must make all of your first 12 required monthly payments on time (we
must receive each payment no later than 6 days after the due date) when
you begin repaying your loan. You will lose the rebate if you do not
make all of your first 12 required monthly payments on time. If you lose
the rebate, we will add the Interest Rebate Amount back to the principal
balance on your loan account.

-   **Net Loan Amount\--**This is the amount of your loan money that
    remains after the Loan Fee Amount is subtracted and the Interest
    Rebate Amount is added. Your school will disburse the Net Loan
    Amount to you by crediting your student account, paying you
    directly, or both.

Item 9 shows your school\'s plan for disbursing your Net Loan Amount to
you. The actual disbursement dates and amounts may be different than the
dates and amounts that are shown. Your school and the Direct Loan
Servicing Center will notify you of the actual disbursement dates and
amounts.

Before your loan money is disbursed, you may cancel all or part of your
loan(s) at any time by notifying your school.

After your loan money is disbursed, there are two ways to cancel all or
part of your loan(s):

-   Within 14 days after the date your school notifies you that it has
    credited loan money to your student account, or by the first day of
    your school's payment period, whichever is later (your school can
    tell you the first day of the payment period), you may inform your
    school that you want to cancel all or part of the loan money that
    was credited to your account. Your school will return the cancelled
    loan amount to us. You do not have to pay interest or the loan fee
    on the part of your loan(s) that you tell your school to cancel
    within these timeframes. If you received an up-front interest rebate
    on your loan(s), the rebate does not apply to the part of your
    loan(s) that you tell your school to cancel. Your loan(s) will be
    adjusted to eliminate any interest, loan fee, and rebate amount that
    applies to the amount of the loan(s) that was cancelled.

If you ask your school to cancel all or part of your loan(s) outside the
timeframes described above, your school may process your cancellation
request, but it is not required to do so.

-   Within 120 days of the date your school disbursed your loan money
    (by crediting the loan money to your student account, paying it to
    you directly, or both), you may return all or part of your loan(s)
    to us. Contact the Direct Loan Servicing Center for guidance on how
    and where to return your loan money. You do not have to pay interest
    or the loan fee on the part of your loan(s) that you return within
    120 days of the date that part of your loan(s) is disbursed. If you
    received an up-front interest rebate on your loan(s), the rebate
    does not apply to the part of your loan(s) that you return. Your
    loan(s) will be adjusted to eliminate any interest, loan fee, and
    rebate amount that applies to the amount of the loan(s) that you
    return.

**Sample EDExpress Disclosure Statement (Four Anticipated
Disbursements)**

BORROWER
INFORMATION\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\--

1\. Name and Address 2. Date of Disclosure Statement

LASTNAME123456, FIRST6789123, A 08/15/2001

STREET78901234567890123456789012345

CITY567890123456, ST 12345-1010 3. Area Code/Telephone Number

\(703\) 741-9999

SCHOOL
INFORMATION\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\--

4\. School Name and Address 5. School Code/Branch

George Mason University

12345 Chain Bridge Road

Fairfax, VA 22222 G99999

LOAN
INFORMATION\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\--

6\. Loan Identification Number(s) 7. Loan Period(s) 8. Loan Fee %

123456789SO2G99999001 09/01/2001 - 05/15/2002 3.00

123456789U02G99999001 09/01/2001 - 05/15/2002 3.00

\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\--

9\. Information about the loan(s) that your school plans to disburse
(pay out) follows.

This information is explained in detail on the back. The actual
disbursement dates and amounts may be different than the dates and
amounts shown below. Your school and the Direct Loan Servicing Center
will notify you of the actual disbursement dates and amounts.

Direct Gross Loan Amount - Loan Fee Amount + Interest Rebate Amount =
Net Loan Amount

Subsidized \$xxxxx.00 - \$xxxxx.00 + \$xxxxx.00 = \$xxxxx.00

Loan

Your school plans to disburse the Net Loan Amount as follows:

Date Net Disbursement Amount Date Net Disbursement Amount

(Variable xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00

Interest xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00

Rate)

Direct Gross Loan Amount - Loan Fee Amount + Interest Rebate Amount =
Net Loan Amount

Unsubsidized \$xxxxx.00 - \$xxxxx.00 + \$xxxxx.00 = \$xxxxx.00

Loan

Your school plans to disburse the Net Loan Amount as follows:

Date Net Disbursement Amount Date Net Disbursement Amount

(Variable xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00

Interest xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00

Rate)

**Sample EDExpress Disclosure Statement (20 Anticipated Disbursements)**

BORROWER
INFORMATION\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\--

1\. Name and Address 2. Date of Disclosure Statement

LASTNAME123456, FIRST6789123, A 08/15/2001

STREET78901234567890123456789012345

CITY567890123456, ST 12345-1010 3. Area Code/Telephone Number

\(703\) 741-9999

SCHOOL
INFORMATION\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\--

4\. School Name and Address 5. School Code/Branch

George Mason University

12345 Chain Bridge Road

Fairfax, VA 22222 G99999

LOAN
INFORMATION\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\--

6\. Loan Identification Number(s) 7. Loan Period(s) 8. Loan Fee %

123456789SO2G99999001 09/01/2001 - 05/15/2002 3.00

123456789U02G99999001 09/01/2001 - 05/15/2002 3.00

\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\-\--

9\. Information about the loan(s) that your school plans to disburse
(pay out) follows.

This information is explained in detail on the back. The actual
disbursement dates and amounts may be different than the dates and
amounts shown below. Your school and the Direct Loan Servicing Center
will notify you of the actual disbursement dates and amounts.

Direct Gross Loan Amount - Loan Fee Amount + Interest Rebate Amount =
Net Loan Amount

Subsidized \$xxxxx.00 - \$xxxxx.00 + \$xxxxx.00 = \$xxxxx.00

Loan

Your school plans to disburse the Net Loan Amount as follows:

Date Net Disbursement Amount Date Net Disbursement Amount

(Variable xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00

Interest xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00

Rate) xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00

> xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00
>
> xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00
>
> xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00
>
> xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00
>
> xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00
>
> xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00
>
> xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00

Direct Gross Loan Amount - Loan Fee Amount + Interest Rebate Amount =
Net Loan Amount

Unsubsidized \$xxxxx.00 - \$xxxxx.00 + \$xxxxx.00 = \$xxxxx.00

Loan

Your school plans to disburse the Net Loan Amount as follows:

Date Net Disbursement Amount Date Net Disbursement Amount

(Variable xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00

Interest xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00

Rate) xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00

> xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00
>
> xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00
>
> xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00
>
> xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00
>
> xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00
>
> xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00
>
> xx/xx/xxxx \$xxxxx.00 xx/xx/xxxx \$xxxxx.00

**1. General Information** -- You are receiving a student loan to help
you cover the costs of your education. This Plain Language Disclosure
(Disclosure) summarizes information concerning your loan. Please read
this Disclosure carefully. Throughout this Disclosure, the words "we,"
"us," and "our" refer to the U.S. Department of Education. If you have
questions about your loan, contact our Direct Loan Servicing Center. The
Direct Loan Servicing Center's telephone number and address are shown on
all of the correspondence you will receive related to your loan.

You must repay this loan, even if you are unhappy with your education,
do not complete it, or cannot find work in your area of study. Borrow
only the amount you need.

**2. Master Promissory Note (MPN)** -- You are receiving a loan under an
MPN that you signed previously. You may receive additional loans under
that MPN for up to 10 years if you continue to attend school and if your
school is authorized and chooses to make multiple loans under the same
MPN. If your school is not authorized or chooses not to make multiple
loans under the same MPN, or if you do not want to receive more than one
loan under the same MPN, you must sign a new MPN for each loan. If you
do not want to receive more than one loan under the same MPN, you must
notify your school or the Direct Loan Servicing Center in writing.

**3. Loan Terms and Conditions** -- This Disclosure summarizes
information concerning your loan. Please refer to your MPN and the
Borrower's Rights and Responsibilities statement that you received
previously for the complete terms and conditions of your loan. If you
need another copy of the Borrower's Rights and Responsibilities
statement, contact the Direct Loan Servicing Center. Unless we tell you
otherwise in this Disclosure, your MPN and the Borrower's Rights and
Responsibilities statement control the terms and conditions of your
loan.

**4. Maximum Loan Amounts** -- There are annual and total (aggregate)
limits on the amount you may borrow, as explained in the Borrower's
Rights and Responsibilities statement that you received previously. The
amount you borrow each year and in total cannot be more than these
limits.

**5. Use of Loan Money** -- You may use your loan money only to pay for
educational expenses (for example, tuition, room, board, books) at the
school that determined you were eligible to receive the loan.

**6. Disbursement of Loan Money** -- Generally, your school will
disburse (pay out) your loan money in more than one installment, usually
at the beginning of each academic term (for example, at the beginning of
each semester or quarter). If your school does not use academic terms,
it will generally disburse your loan in at least two installments, one
at the beginning of the period of study for which you are receiving the
loan and one at the midpoint of that period of study. Your school may
disburse your loan money by crediting it to your student account, or may
give it to you directly by check or other means. The Direct Loan
Servicing Center will notify you each time your school disburses a
portion of your loan money.

**7. Change of Status or Address** - You must notify both your school
and the Direct Loan Servicing Center if you:

-   stop attending school,

-   drop below half-time enrollment,

-   change your address, or

-   change your name (for example, maiden name to married name).

In addition, you must notify the Direct Loan Servicing Center if you:

-   transfer from one school to another school,

-   change employers or if your employer's address or phone number
    changes,

-   change your telephone number, or

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-   have any change in status that affects your loan (for example, if
    you received a deferment but no longer meet the eligibility
    requirements for that deferment).

**8. Canceling Your Loan** -- Before your loan money is disbursed, you
may cancel all or part of your loan at any time by notifying your
school. After your loan money is disbursed, there are two ways to cancel
all or part of your loan:

-   Within 14 days after the date your school notifies you that it has
    credited loan money to your student account, or by the first day of
    your school's payment period, whichever is later (your school can
    tell you the first day of the payment period), you may inform your
    school that you want to cancel all or part of the loan money that
    was credited to your account. Your school will return the cancelled
    loan amount to us. You do not have to pay interest or the loan fee
    on the part of your loan(s) that you tell your school to cancel
    within these timeframes. If you received an up-front interest rebate
    on your loan(s), the rebate does not apply to the part of your
    loan(s) that you tell your school to cancel. Your loan(s) will be
    adjusted to eliminate any interest, loan fee, and rebate amount that
    applies to the amount of the loan(s) that was cancelled.

> If you ask your school to cancel all or part of your loan(s) outside
> the timeframes described above, your school may process your
> cancellation request, but it is not required to do so.

-   Within 120 days of the date your school disbursed your loan money
    (by crediting the loan money to your student account, paying it to
    you directly, or both), you may return all or part of your loan(s)
    to us. Contact the Direct Loan Servicing Center for guidance on how
    and where to return your loan money. You do not have to pay interest
    or the loan fee on the part of your loan(s) that you return within
    120 days of the date that part of your loan(s) is disbursed. If you
    received an up-front interest rebate on your loan(s), the rebate
    does not apply to the part of your loan(s) that you return. Your
    loan(s) will be adjusted to eliminate any interest, loan fee, and
    rebate amount that applies to the amount of the loan(s) that you
    return.

**9. Loan Fee** -- We charge a loan fee on your loan of up to 4 percent
of the principal amount of the loan. This fee will be subtracted from
the loan amount that is disbursed to you. If you cancel or return all or
part of your loan within 120 days of the date your loan money is
disbursed, no loan fee will be charged on the amount that you cancel or
return.

**10. Interest** -- The interest rate on your loan is a variable rate
which can change each year on July 1. As a result, your interest rate
may change annually, but it will never be more than 8.25%. We will
notify you of the interest rate formula and the actual interest rate for
each loan that you receive.

We do not charge interest on Direct Subsidized Loans while you are
attending school, during your grace period, and during deferment
periods. We charge interest on Direct Subsidized Loans during all other
periods (starting on the day after your grace period ends), including
forbearance periods.

We charge interest on Direct Unsubsidized Loans during all periods. This
includes periods while you are attending school, during your grace
period, and during deferment and forbearance periods. Therefore, you
will pay more interest on Direct Unsubsidized Loans than on Direct
Subsidized Loans.

You are responsible for paying the interest on the unpaid amount of your
loan during the periods described above. If you do not pay the interest,
we will add it to the unpaid amount of your loan. This process is called
capitalization. Capitalization increases the unpaid amount of your loan,
and we will then charge interest on the increased amount.

**11. Up-Front Interest Rebate** -- You may receive an up-front interest
rebate on your loan as part of a program to encourage timely repayment
of Direct Loans. The rebate will be equal to a percentage of the loan
amount that you borrow. If you receive a rebate on your loan, the Direct
Loan Servicing Center will send you more specific information.

To keep the up-front interest rebate that you receive on your loan, you
must make all of your first 12 required monthly payments on time (we
must receive each payment no later than 6 days after the due date) when
your loan enters repayment after you leave school or drop below
half-time status.

You will lose the rebate if you do not make all of your first 12
required monthly payments on time. If you lose the rebate, we will add
the rebate amount back to the principal balance on your loan account.

**12. Grace Period** -- You will receive a 6-month grace period that
starts the day after you stop attending school or drop below half-time
enrollment. You do not have to begin making payments on your loan until
after your grace period ends.

**13. Repayment** -- You must repay each loan that you receive according
to the repayment schedule provided by the Direct Loan Servicing Center.
You must begin repaying your loan after your grace period ends. The
amount of time you have to repay your loan (the repayment period) will
vary from 10 to 30 years, depending on the repayment plan that you
choose and the total amount you have borrowed. You may choose one of the
following repayment plans:

-   Standard Repayment Plan

-   Extended Repayment Plan

-   Graduated Repayment Plan

-   Income Contingent Repayment Plan

These plans are designed to give you flexibility in meeting your
obligation to repay your loan. The Borrower's Rights and
Responsibilities statement that you received previously explains the
terms and conditions of each repayment plan. You may change repayment
plans at any time after you have begun repaying your loan. You may make
loan payments before they are due, or pay more than the amount due each
month, without penalty. When you have fully repaid a loan, the Direct
Loan Servicing Center does not have to send you the original MPN but may
instead send you a letter telling you that you have paid off your loan.
You should keep this letter in a safe place.

**14. Late Charges and Collection Costs** -- We may require you to pay a
late charge if you do not make any part of a payment within 30 days
after it is due. We may also require you to pay other charges and fees
involved in collecting your loan.

**15. Deferment** -- After you have begun making payments, you may, if
you meet certain requirements, receive a deferment that allows you to
temporarily stop making payments on your loan. For example, you may
receive a deferment while you are attending school at least half-time or
for up to 3 years while you are unemployed. For a complete list of
deferments, refer to the Borrower's Rights and Responsibilities
statement that you received previously. To request a deferment, contact
the Direct Loan Servicing Center.

We do not charge interest on Direct Subsidized Loans during deferment
periods. However, we do charge interest on Direct Unsubsidized Loans
during deferment periods.

**16. Forbearance** -- A forbearance allows you to temporarily make
smaller payments or temporarily stop making payments on your loan. If
you cannot make your scheduled loan payments but do not qualify for a
deferment, we may give you a forbearance. For example, we may give you a
forbearance if you are temporarily unable to make scheduled loan
payments because of financial hardship or illness. We may also give you
a forbearance under other conditions as described in the Borrower's
Rights and Responsibilities statement that you received previously. To
request a forbearance, contact the Direct Loan Servicing Center.

We charge interest on both Direct Subsidized Loans and Direct
Unsubsidized Loans during forbearance periods.

**17. Loan Consolidation** -- You may consolidate (combine) all of your
eligible federal education loans into one loan. Consolidating your loans
gives you up to 30 years to pay them back and may lower your monthly
payments. That may make it easier to repay your loans. However, because
you make payments for a longer period of time, you will pay more
interest if you consolidate your loans. Contact the Direct Loan
Servicing Center for more information about loan consolidation.

**18. Loan Discharge** -- We will discharge (forgive) your loan if:

-   we receive acceptable documentation that you died or became totally
    and permanently disabled,

-   you cannot complete your course of study because your school closes,
    or

-   your school falsely certified your eligibility to receive a loan.

We may also discharge your loan up to the amount of any refund that your
school should have returned to us, but did not return. We will not
automatically discharge your loan if you file for bankruptcy.

We may forgive up to \$5,000 of any loans you received after
October 1, 1998 if you teach full-time for 5 consecutive years in
certain low-income elementary and secondary schools and meet certain
other qualifications, and if you did not owe a Direct Loan Program or
Federal Family Education Loan Program loan as of October 1, 1998, or as
of the date you obtain a loan after October 1, 1998. Contact the Direct
Loan Servicing Center for specific eligibility requirements.

In some cases, you may not have to repay your loan if you claim, as a
defense against repayment, that your school did something wrong or
failed to do something that it should have done. You can make such a
defense against repayment only if what your school did or did not do
could result in legal action being taken against the school under state
law. If you believe that you have a defense against repayment of your
loan, contact the Direct Loan Servicing Center.

**19. Credit Bureau Reporting** -- We will report information about your
loan to one or more national credit bureaus. This information will
include the disbursement dates, amount, and repayment status of your
loan (for example, whether you are current or behind schedule in making
payments).

**20. Demand for Immediate Repayment** -- We will require you to
immediately repay the entire unpaid amount of your loan (on your MPN
this is called "acceleration") if you:

-   receive loan money but do not enroll at least half-time at the
    school that certified your eligibility to receive the loan,

-   use your loan money to pay for anything other than educational
    expenses at the school that determined you were eligible to receive
    the loan,

-   make any false statement that causes you to receive a loan that you
    are not eligible to receive, or

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-   default on your loan.

**21. Default** -- You are in default on your loan if you:

-   do not repay the entire unpaid amount of your loan if we require you
    to do so,

-   have not made a payment on your loan for at least 270 days, or

-   do not comply with other terms and conditions of your loan, and we
    conclude that you no longer intend to honor your obligation to repay
    your loan.

If you default on your loan, we will report that fact to all national
credit bureaus. We may sue you, take all or part of your federal tax
refund, and/or garnish your wages so that your employer is required to
send us part of your salary to pay off your loan. We will require you to
pay reasonable collection fees and costs, plus court costs and attorney
fees. You may face other serious consequences.

## Master Promissory Note

### Sample Master Promissory Note (MPN)

A sample Master Promissory Note may be accessed via the following Web
site:

**http://www.ed.gov/offices/OSFAP/DirectLoan/brr.html**

This site provides two versions of the MPN. Version A provides data
labels and Version B does not provide data labels. Also available are
the Instructions for completing the MPN.

**Borrower's Rights and Responsibilities**

A sample of the Borrower's Rights and Responsibilities information may
be accessed via the following Web site:

**http://www.ed.gov/offices/OSFAP/DirectLoan/brr.html**

**PLUS Promissory Note**

**Sample PLUS Promissory Note/Application**

A sample PLUS Promissory Note/Application may be accessed via the
following Web site:

**http://www.ed.gov/offices/OSFAP/DirectLoan/brr.html**

**PLUS Borrower's Rights and Responsibilities**

A sample of the PLUS Borrower's Rights and Responsibilities information
may be accessed via the following Web site:

**http://www.ed.gov/offices/OSFAP/DirectLoan/brr.html**

![](media/image4.emf)

> 08/25/2001

Dear School/Borrower:

While processing the enclosed promissory note(s) batch, we identified
the following missing or incorrect information:

\_\_\_\_\_Alterations to preprinted text without authorized initials

\_\_\_\_\_Invalid/Missing loan identification number

\_\_\_\_\_No original signature (Xerox or faxed copy)

\_\_\_\_\_Driver license incomplete

\_\_\_\_\_Document in pencil

\_\_\_\_\_Section/Block \_\_\_not completed

\_\_**\_\_\_**No signature on document

\_\_\_\_\_Manifest errors

\_\_\_\_\_Missing legal text

\_\_\_\_\_Student or Parent is in default

\_\_\_\_\_This is a duplicate; we already have a copy

\_\_\_\_\_This document was torn or damaged at **LOC/DLSC**

\_\_\_\_\_Year five loans must be on year five-promissory note

\_\_\_\_\_Section block numbers 20 and 21 on Plus note needs signature
and date

> \_\_\_\_\_Invalid signature. Please provide official state or federal
> document
>
> to verify/validate signature provided on Promissory Note

**\_\_\_\_\_*Immediately, return promissory notes as they are generated
and signed***

> \_\_\_\_\_Other\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_

Because we are not permitted by law to alter the original promissory
note, we are enclosing it for correction(s) as noted above. Please
assist the borrower in completing the promissory note, assuring that the
correct information has been incorporated where needed. When the
promissory note(s) has been completed and corrected, please return it to
the Loan Origination Center so that processing of the loan may continue.

If you have any questions, the Loan Origination Center is available to
assist you from 8:00 AM to 8:00 PM, Eastern Standard Time, Monday
through Friday. We can be reached, toll-free, at 1-800-848-0978. Our
toll-free TDD number for the hearing impaired is 1-800-557-7395.

**Please return the corrected promissory note(s) to:**

# Regular Postal Delivery Express/Overnight Delivery 

U.S. Department of Education U. S. Department of Education

Loan Origination Center Loan Origination Center

School Relations School Relations

P. O. Box 5692 474 South Court Street Suite 400

Montgomery, AL 36103-5692 Montgomery, AL 36104

*Our Mission is to Ensure Equal Access to Education and to Promote
Educational Excellence Throughout the Nation*