<table style="width:100%;">
<colgroup>
<col style="width: 8%" />
<col style="width: 2%" />
<col style="width: 1%" />
<col style="width: 1%" />
<col style="width: 2%" />
<col style="width: 0%" />
<col style="width: 0%" />
<col style="width: 1%" />
<col style="width: 2%" />
<col style="width: 3%" />
<col style="width: 1%" />
<col style="width: 1%" />
<col style="width: 3%" />
<col style="width: 2%" />
<col style="width: 0%" />
<col style="width: 3%" />
<col style="width: 3%" />
<col style="width: 8%" />
<col style="width: 1%" />
<col style="width: 2%" />
<col style="width: 1%" />
<col style="width: 0%" />
<col style="width: 1%" />
<col style="width: 1%" />
<col style="width: 1%" />
<col style="width: 1%" />
<col style="width: 3%" />
<col style="width: 8%" />
<col style="width: 2%" />
<col style="width: 1%" />
<col style="width: 1%" />
<col style="width: 2%" />
<col style="width: 0%" />
<col style="width: 8%" />
<col style="width: 4%" />
<col style="width: 1%" />
<col style="width: 2%" />
</colgroup>
<tbody>
<tr class="odd">
<td colspan="9"><img src="media/image1.bmp" /></td>
<td colspan="21"><h1 id="federal-direct-consolidation-loan">Federal
Direct Consolidation Loan</h1>
<h2 id="application-and-promissory-note">Application and Promissory
Note</h2>
<p><strong>WARNING</strong>: Any person who knowingly makes a false
statement or misrepresentation on this form will be subject to penalties
which may include fines, imprisonment, or both, under the U.S. Criminal
Code and 20 U.S.C. 1097.</p></td>
<td colspan="7"></td>
</tr>
<tr class="even">
<td colspan="37"><h4 id="before-you-begin">Before You Begin</h4></td>
</tr>
<tr class="odd">
<td colspan="37"><p>Read the instructions for completing this Federal
Direct Consolidation Loan Application and Promissory Note. Print using
blue or black ink or type. You must sign and date this form. If you
cross out anything and write in new information, put your initials
beside the change.</p>
<p><strong>NOTE: PAGES 1, 2, and 3 OF THIS FORM MUST BE SUBMITTED IN
ORDER TO PROCESS YOUR LOAN REQUEST.</strong></p></td>
</tr>
<tr class="even">
<td colspan="37"><h3 id="section-a-borrower-information">Section A:
Borrower Information</h3></td>
</tr>
<tr class="odd">
<td colspan="8"><strong>1.</strong> Last Name</td>
<td colspan="8">First Name</td>
<td colspan="6">Middle Initial</td>
<td colspan="15"><strong>2.</strong> Social Security Number</td>
</tr>
<tr class="even">
<td colspan="22"></td>
<td colspan="15"></td>
</tr>
<tr class="odd">
<td colspan="22"><p><strong>3.</strong> Permanent Street Address (if
P.O. box or general delivery, see instructions)</p>
<p>______________________________________________________________________________</p>
<p>______________________________________________________________________________</p>
<p>_______________________________________ _____________
_______________________</p></td>
<td colspan="15"><p><strong>4.</strong> Area Code/Telephone Number</p>
<p>( )</p></td>
</tr>
<tr class="even">
<td colspan="13"><blockquote>
<p>City</p>
</blockquote></td>
<td colspan="3">State</td>
<td colspan="6">Zip Code</td>
<td colspan="15"><strong>5.</strong> E-Mail Address (Optional)</td>
</tr>
<tr class="odd">
<td colspan="15"><strong>6.</strong> Former Name(s)</td>
<td colspan="7"><strong>7.</strong> Date of Birth (mm-dd-yyyy)</td>
<td colspan="15"><p><strong>8.</strong> Driver’s License State and
Number</p>
<blockquote>
<p>State Number</p>
</blockquote></td>
</tr>
<tr class="even">
<td colspan="15"><strong>9.</strong> Employer’s Name</td>
<td colspan="22"><strong>10.</strong> Employer’s Address</td>
</tr>
<tr class="odd">
<td colspan="15"><strong>11.</strong> Work Area Code/Telephone
Number</td>
<td colspan="5">City</td>
<td colspan="9">State</td>
<td colspan="8">Zip Code</td>
</tr>
<tr class="even">
<td colspan="15">( )</td>
<td colspan="22"></td>
</tr>
<tr class="odd">
<td colspan="37"><h4 id="section-b-reference-information">Section B:
Reference Information</h4></td>
</tr>
<tr class="even">
<td colspan="37"><strong>12.</strong> References: List two persons with
different addresses who have known you for at least three years. Do not
list individuals who live with you (for example, your spouse) or who
live outside the United States.</td>
</tr>
<tr class="odd">
<td colspan="2">Name</td>
<td colspan="2">1.</td>
<td colspan="15"></td>
<td colspan="2">2.</td>
<td colspan="14"></td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="15"></td>
<td colspan="2"></td>
<td colspan="16"></td>
</tr>
<tr class="odd">
<td colspan="4">Permanent Address</td>
<td colspan="15"></td>
<td colspan="2"></td>
<td colspan="14"></td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="15"></td>
<td colspan="2"></td>
<td colspan="16"></td>
</tr>
<tr class="odd">
<td colspan="4">City, State, Zip Code</td>
<td colspan="15"></td>
<td colspan="2"></td>
<td colspan="14"></td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td colspan="2"></td>
<td colspan="2"></td>
<td colspan="15"></td>
<td colspan="2"></td>
<td colspan="16"></td>
</tr>
<tr class="odd">
<td colspan="6">E-Mail Address (optional)</td>
<td colspan="13"></td>
<td colspan="2"></td>
<td colspan="14"></td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td colspan="4"></td>
<td colspan="15"></td>
<td colspan="2"></td>
<td colspan="14"></td>
<td colspan="2"></td>
</tr>
<tr class="odd">
<td colspan="11">Area Code/Telephone Number ( )</td>
<td colspan="8"></td>
<td colspan="7">( )</td>
<td colspan="9"></td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td colspan="37"></td>
</tr>
<tr class="odd">
<td colspan="7">Relationship to Borrower</td>
<td colspan="12"></td>
<td colspan="2"></td>
<td colspan="14"></td>
<td colspan="2"></td>
</tr>
<tr class="even">
<td colspan="37"></td>
</tr>
<tr class="odd">
<td colspan="37"><strong>Section C1: Education Loan Indebtedness – Loans
You Want to Consolidate (continued on page 2)</strong></td>
</tr>
<tr class="even">
<td colspan="37"><em><strong>Read the instructions before completing
this section.</strong></em> List each federal education loan that you
want to consolidate, including any William D. Ford Federal Direct Loan
(Direct Loan) Program loans that you want to include in your Direct
Consolidation Loan. If you need more space to list additional loans, use
the Additional Loan Listing Sheet included with this package. List each
loan separately. Please print. <strong>ONLY LIST LOANS THAT YOU WANT TO
CONSOLIDATE IN THIS SECTION.</strong></td>
</tr>
<tr class="odd">
<td colspan="3"><p><strong>13.</strong> Loan Type</p>
<p>(See Instructions)</p></td>
<td colspan="21"><p><strong>14.</strong> Loan Holder’s/Servicer’s Name,
Address, and Area Code/Telephone Number</p>
<p>(See Instructions)</p></td>
<td colspan="7"><strong>15.</strong> Loan Account Number</td>
<td colspan="6"><strong>16.</strong> Estimated Payoff Amount</td>
</tr>
<tr class="even">
<td colspan="3"><mark></mark></td>
<td colspan="21"><p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p></td>
<td colspan="7"><mark></mark></td>
<td colspan="6"><mark></mark></td>
</tr>
<tr class="odd">
<td colspan="3"><mark></mark></td>
<td colspan="21"><p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p></td>
<td colspan="7"><mark></mark></td>
<td colspan="6"><mark></mark></td>
</tr>
<tr class="even">
<td colspan="12"><h5 id="borrowers-name-please-print">Borrower’s Name
(please print)</h5></td>
<td colspan="13"></td>
<td colspan="7"><strong>Social Security Number</strong></td>
<td colspan="4"></td>
<td></td>
</tr>
<tr class="odd">
<td colspan="37"></td>
</tr>
<tr class="even">
<td colspan="37"><strong>Section C1: Education Loan Indebtedness – Loans
You Want to Consolidate (continued from page 1)</strong></td>
</tr>
<tr class="odd">
<td colspan="3"><p><strong>13.</strong> Loan Type</p>
<p>(See Instructions)</p></td>
<td colspan="21"><p><strong>14.</strong> Loan Holder’s/Servicer’s Name,
Address, and Area Code/Telephone Number</p>
<p>(See Instructions)</p></td>
<td colspan="7"><strong>15.</strong> Loan Account Number</td>
<td colspan="6"><strong>16.</strong> Estimated Payoff Amount</td>
</tr>
<tr class="even">
<td colspan="3"><mark></mark></td>
<td colspan="21"><p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p></td>
<td colspan="7"><mark></mark></td>
<td colspan="6"><mark></mark></td>
</tr>
<tr class="odd">
<td colspan="3"><mark></mark></td>
<td colspan="21"><p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p></td>
<td colspan="7"><mark></mark></td>
<td colspan="6"><mark></mark></td>
</tr>
<tr class="even">
<td colspan="3"><mark></mark></td>
<td colspan="21"><p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p></td>
<td colspan="7"><mark></mark></td>
<td colspan="6"><mark></mark></td>
</tr>
<tr class="odd">
<td colspan="3"><mark></mark></td>
<td colspan="21"><p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p></td>
<td colspan="7"><mark></mark></td>
<td colspan="6"><mark></mark></td>
</tr>
<tr class="even">
<td colspan="3"><mark></mark></td>
<td colspan="21"><p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p></td>
<td colspan="7"><mark></mark></td>
<td colspan="6"><mark></mark></td>
</tr>
<tr class="odd">
<td colspan="3"><mark></mark></td>
<td colspan="21"><p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p></td>
<td colspan="7"><mark></mark></td>
<td colspan="6"><mark></mark></td>
</tr>
<tr class="even">
<td colspan="31"><strong>17. Grace Period End Date.</strong> If any of
the loans you want to consolidate are in a grace period, you can delay
the processing of your Direct Consolidation Loan until the end of your
grace period by entering your expected grace period end date in the
space provided. If you leave this item blank, your Direct Consolidation
Loan will be processed and any loans listed in Section C1 that are in a
grace period will enter repayment immediately upon consolidation.</td>
<td colspan="6"><p><strong>Expected Grace Period End Date
(month/year):</strong></p>
<p><strong>_________________________</strong></p></td>
</tr>
<tr class="odd">
<td colspan="37"><strong>Section C2: Education Loan Indebtedness – Loans
You Do Not Want to Consolidate</strong></td>
</tr>
<tr class="even">
<td colspan="37"><em><strong>Read the instructions before completing
this section.</strong></em> List all education loans that you are not
consolidating, but want to have considered when calculating your maximum
repayment period. Include any Direct Loan Program loans that you do not
want to consolidate. If you need more space to list additional loans,
use the Additional Loan Listing Sheet included with this package. List
each loan separately. Please print. <strong>ONLY LIST LOANS THAT YOU DO
NOT WANT TO CONSOLIDATE IN THIS SECTION.</strong></td>
</tr>
<tr class="odd">
<td colspan="3"><p><strong>18.</strong> Loan Type</p>
<p>(See Instructions)</p></td>
<td colspan="21"><p><strong>19.</strong> Loan Holder’s/Servicer’s Name,
Address, and Area Code/Telephone Number</p>
<p>(See Instructions)</p></td>
<td colspan="7"><strong>20.</strong> Loan Account Number</td>
<td colspan="6"><strong>21.</strong> Current Balance</td>
</tr>
<tr class="even">
<td colspan="3"><mark></mark></td>
<td colspan="21"><p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p></td>
<td colspan="7"><mark></mark></td>
<td colspan="6"><mark></mark></td>
</tr>
<tr class="odd">
<td colspan="3"><mark></mark></td>
<td colspan="21"><p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p></td>
<td colspan="7"><mark></mark></td>
<td colspan="6"><mark></mark></td>
</tr>
<tr class="even">
<td colspan="3"><mark></mark></td>
<td colspan="21"><p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p></td>
<td colspan="7"><mark></mark></td>
<td colspan="6"><mark></mark></td>
</tr>
<tr class="odd">
<td colspan="3"><mark></mark></td>
<td colspan="21"><p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p>
<p><mark></mark></p></td>
<td colspan="7"><mark></mark></td>
<td colspan="6"><mark></mark></td>
</tr>
<tr class="even">
<td colspan="37"><strong>Section D: Repayment Plan
Selection</strong></td>
</tr>
<tr class="odd">
<td colspan="37"><p>To understand your repayment plan options, carefully
read the repayment plan information in the Borrower’s Rights and
Responsibilities Statement on pages 5-8 of this Application and
Promissory Note (Note) and in any supplemental materials you receive
with this Note. Then select a repayment plan by completing the
<strong>Repayment Plan Selection</strong> form that accompanies this
Note. Please note the following:</p>
<ul>
<li><p>If you select the Income Contingent Repayment (ICR) Plan, you
must also complete the <strong>Income Contingent Repayment Plan Consent
to Disclosure of Tax Information</strong> form that is included with
this Note. <strong>Your selection of the ICR Plan cannot be processed
without this form.</strong></p></li>
<li><p>If you want to consolidate a defaulted loan(s) and you have not
made a satisfactory repayment arrangement with your current holder(s),
you must select the ICR Plan, or effective July 1, 2009, the
Income-Based Repayment Plan. You must also select the ICR Plan or the
Income-Based Repayment Plan if you are consolidating a delinquent
Federal Consolidation Loan that the lender has submitted to the guaranty
agency for default aversion, and you are not consolidating any
additional eligible loans.</p></li>
</ul></td>
</tr>
<tr class="even">
<td><h6 id="section"></h6></td>
<td colspan="4"><h6 id="section-1"></h6></td>
<td colspan="5"><h6 id="section-2"></h6></td>
<td colspan="4"><h6 id="section-3"></h6></td>
<td colspan="3"><h6 id="section-4"></h6></td>
<td><h6 id="section-5"></h6></td>
<td colspan="5"><h6 id="section-6"></h6></td>
<td colspan="4"><h6 id="section-7"></h6></td>
<td><h6 id="section-8"></h6></td>
<td colspan="5"><h6 id="section-9"></h6></td>
<td><h6 id="section-10"></h6></td>
<td colspan="3"><h6 id="section-11"></h6></td>
</tr>
</tbody>
</table>

+-------------+---+--------------------+--------------+---+----------+---+
| ###         |   |                    | **Social     |   |          |   |
| ## Borrower |   |                    | Security     |   |          |   |
| 's Name (pl |   |                    | Number**     |   |          |   |
| ease print) |   |                    |              |   |          |   |
|  {#borrower |   |                    |              |   |          |   |
| s-name-plea |   |                    |              |   |          |   |
| se-print-1} |   |                    |              |   |          |   |
+-------------+---+--------------------+--------------+---+----------+---+
|             |   |                    |              |   |          |   |
+-------------+---+--------------------+--------------+---+----------+---+
| **Section   |   |                    |              |   |          |   |
| E: Borrower |   |                    |              |   |          |   |
| Unde        |   |                    |              |   |          |   |
| rstandings, |   |                    |              |   |          |   |
| Cert        |   |                    |              |   |          |   |
| ifications, |   |                    |              |   |          |   |
| and         |   |                    |              |   |          |   |
| Autho       |   |                    |              |   |          |   |
| rizations** |   |                    |              |   |          |   |
+-------------+---+--------------------+--------------+---+----------+---+
| **22.** I   |   |                    |              |   |          |   |
| understand  |   |                    |              |   |          |   |
| that:       |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| A.  My      |   |                    |              |   |          |   |
|     Direct  |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|     will,   |   |                    |              |   |          |   |
|     to the  |   |                    |              |   |          |   |
|     extent  |   |                    |              |   |          |   |
|     used to |   |                    |              |   |          |   |
|     pay off |   |                    |              |   |          |   |
|     loans   |   |                    |              |   |          |   |
|     that I  |   |                    |              |   |          |   |
|     have    |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    selected |   |                    |              |   |          |   |
|     for     |   |                    |              |   |          |   |
|     con     |   |                    |              |   |          |   |
| solidation, |   |                    |              |   |          |   |
|     count   |   |                    |              |   |          |   |
|     against |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  applicable |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   aggregate |   |                    |              |   |          |   |
|     loan    |   |                    |              |   |          |   |
|     limits  |   |                    |              |   |          |   |
|     under   |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     Act.    |   |                    |              |   |          |   |
|     The     |   |                    |              |   |          |   |
|     term    |   |                    |              |   |          |   |
|     "the    |   |                    |              |   |          |   |
|     Act" is |   |                    |              |   |          |   |
|     defined |   |                    |              |   |          |   |
|     under   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  "Governing |   |                    |              |   |          |   |
|     Law" on |   |                    |              |   |          |   |
|     page 4  |   |                    |              |   |          |   |
|     of this |   |                    |              |   |          |   |
|     Note.   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| B.  The     |   |                    |              |   |          |   |
|     amount  |   |                    |              |   |          |   |
|     of my   |   |                    |              |   |          |   |
|     Direct  |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan is |   |                    |              |   |          |   |
|     the sum |   |                    |              |   |          |   |
|     of the  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    balances |   |                    |              |   |          |   |
|     of my   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| outstanding |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    eligible |   |                    |              |   |          |   |
|     loans   |   |                    |              |   |          |   |
|     that I  |   |                    |              |   |          |   |
|     have    |   |                    |              |   |          |   |
|     chosen  |   |                    |              |   |          |   |
|     to      |   |                    |              |   |          |   |
|     c       |   |                    |              |   |          |   |
| onsolidate. |   |                    |              |   |          |   |
|     My      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| outstanding |   |                    |              |   |          |   |
|     balance |   |                    |              |   |          |   |
|     on each |   |                    |              |   |          |   |
|     loan to |   |                    |              |   |          |   |
|     be      |   |                    |              |   |          |   |
|     c       |   |                    |              |   |          |   |
| onsolidated |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    includes |   |                    |              |   |          |   |
|     unpaid  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  principal, |   |                    |              |   |          |   |
|     unpaid  |   |                    |              |   |          |   |
|     accrued |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   interest, |   |                    |              |   |          |   |
|     and     |   |                    |              |   |          |   |
|     late    |   |                    |              |   |          |   |
|     charges |   |                    |              |   |          |   |
|     as      |   |                    |              |   |          |   |
|     defined |   |                    |              |   |          |   |
|     by      |   |                    |              |   |          |   |
|     federal |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| regulations |   |                    |              |   |          |   |
|     and as  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   certified |   |                    |              |   |          |   |
|     by each |   |                    |              |   |          |   |
|     holder. |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  Collection |   |                    |              |   |          |   |
|     costs   |   |                    |              |   |          |   |
|     may     |   |                    |              |   |          |   |
|     also be |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   included. |   |                    |              |   |          |   |
|     For a   |   |                    |              |   |          |   |
|     Direct  |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|     Program |   |                    |              |   |          |   |
|     or      |   |                    |              |   |          |   |
|     Federal |   |                    |              |   |          |   |
|     Family  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   Education |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|     (FFEL)  |   |                    |              |   |          |   |
|     Program |   |                    |              |   |          |   |
|     loan    |   |                    |              |   |          |   |
|     that is |   |                    |              |   |          |   |
|     in      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    default, |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     U.S.    |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  Department |   |                    |              |   |          |   |
|     of      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   Education |   |                    |              |   |          |   |
|     (ED)    |   |                    |              |   |          |   |
|     limits  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  collection |   |                    |              |   |          |   |
|     costs   |   |                    |              |   |          |   |
|     that    |   |                    |              |   |          |   |
|     may be  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    included |   |                    |              |   |          |   |
|     in the  |   |                    |              |   |          |   |
|     payoff  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    balances |   |                    |              |   |          |   |
|     of the  |   |                    |              |   |          |   |
|     loans   |   |                    |              |   |          |   |
|     to a    |   |                    |              |   |          |   |
|     maximum |   |                    |              |   |          |   |
|     of 18.5 |   |                    |              |   |          |   |
|     percent |   |                    |              |   |          |   |
|     of the  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| outstanding |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   principal |   |                    |              |   |          |   |
|     and     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   interest. |   |                    |              |   |          |   |
|     For any |   |                    |              |   |          |   |
|     other   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   defaulted |   |                    |              |   |          |   |
|     federal |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   education |   |                    |              |   |          |   |
|     loans,  |   |                    |              |   |          |   |
|     all     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  collection |   |                    |              |   |          |   |
|     costs   |   |                    |              |   |          |   |
|     that    |   |                    |              |   |          |   |
|     are     |   |                    |              |   |          |   |
|     owed    |   |                    |              |   |          |   |
|     may be  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    included |   |                    |              |   |          |   |
|     in the  |   |                    |              |   |          |   |
|     payoff  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    balances |   |                    |              |   |          |   |
|     of the  |   |                    |              |   |          |   |
|     loans.  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| C.  ED will |   |                    |              |   |          |   |
|     provide |   |                    |              |   |          |   |
|     me with |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| information |   |                    |              |   |          |   |
|     about   |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     loans   |   |                    |              |   |          |   |
|     and     |   |                    |              |   |          |   |
|     payoff  |   |                    |              |   |          |   |
|     amounts |   |                    |              |   |          |   |
|     that ED |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    verifies |   |                    |              |   |          |   |
|     with    |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     holders |   |                    |              |   |          |   |
|     of my   |   |                    |              |   |          |   |
|     loans   |   |                    |              |   |          |   |
|     before  |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     actual  |   |                    |              |   |          |   |
|     payoffs |   |                    |              |   |          |   |
|     occur.  |   |                    |              |   |          |   |
|     If I do |   |                    |              |   |          |   |
|     not     |   |                    |              |   |          |   |
|     want to |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| consolidate |   |                    |              |   |          |   |
|     any of  |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     loans   |   |                    |              |   |          |   |
|     that ED |   |                    |              |   |          |   |
|     has     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   verified, |   |                    |              |   |          |   |
|     I must  |   |                    |              |   |          |   |
|     notify  |   |                    |              |   |          |   |
|     ED      |   |                    |              |   |          |   |
|     before  |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     loans   |   |                    |              |   |          |   |
|     are     |   |                    |              |   |          |   |
|     paid    |   |                    |              |   |          |   |
|     off.    |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| D.  If the  |   |                    |              |   |          |   |
|     amount  |   |                    |              |   |          |   |
|     ED      |   |                    |              |   |          |   |
|     sends   |   |                    |              |   |          |   |
|     to my   |   |                    |              |   |          |   |
|     holders |   |                    |              |   |          |   |
|     is more |   |                    |              |   |          |   |
|     than    |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     amount  |   |                    |              |   |          |   |
|     needed  |   |                    |              |   |          |   |
|     to pay  |   |                    |              |   |          |   |
|     off the |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    balances |   |                    |              |   |          |   |
|     of the  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    selected |   |                    |              |   |          |   |
|     loans,  |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     holders |   |                    |              |   |          |   |
|     will    |   |                    |              |   |          |   |
|     refund  |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     excess  |   |                    |              |   |          |   |
|     to ED   |   |                    |              |   |          |   |
|     and it  |   |                    |              |   |          |   |
|     will be |   |                    |              |   |          |   |
|     applied |   |                    |              |   |          |   |
|     against |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| outstanding |   |                    |              |   |          |   |
|     balance |   |                    |              |   |          |   |
|     of my   |   |                    |              |   |          |   |
|     Direct  |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan.   |   |                    |              |   |          |   |
|     If the  |   |                    |              |   |          |   |
|     amount  |   |                    |              |   |          |   |
|     that ED |   |                    |              |   |          |   |
|     sends   |   |                    |              |   |          |   |
|     to my   |   |                    |              |   |          |   |
|     holders |   |                    |              |   |          |   |
|     is less |   |                    |              |   |          |   |
|     than    |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     amount  |   |                    |              |   |          |   |
|     needed  |   |                    |              |   |          |   |
|     to pay  |   |                    |              |   |          |   |
|     off the |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    balances |   |                    |              |   |          |   |
|     of the  |   |                    |              |   |          |   |
|     loans   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    selected |   |                    |              |   |          |   |
|     for     |   |                    |              |   |          |   |
|     con     |   |                    |              |   |          |   |
| solidation, |   |                    |              |   |          |   |
|     ED will |   |                    |              |   |          |   |
|     include |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   remaining |   |                    |              |   |          |   |
|     amount  |   |                    |              |   |          |   |
|     in my   |   |                    |              |   |          |   |
|     Direct  |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan.   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| E.  Unless  |   |                    |              |   |          |   |
|     I am    |   |                    |              |   |          |   |
|     co      |   |                    |              |   |          |   |
| nsolidating |   |                    |              |   |          |   |
|     a       |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  delinquent |   |                    |              |   |          |   |
|     Federal |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|     that    |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     lender  |   |                    |              |   |          |   |
|     has     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   submitted |   |                    |              |   |          |   |
|     to the  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    guaranty |   |                    |              |   |          |   |
|     agency  |   |                    |              |   |          |   |
|     for     |   |                    |              |   |          |   |
|     default |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    aversion |   |                    |              |   |          |   |
|     or a    |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   defaulted |   |                    |              |   |          |   |
|     Federal |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan,   |   |                    |              |   |          |   |
|     or,     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   effective |   |                    |              |   |          |   |
|     July 1, |   |                    |              |   |          |   |
|     2008, I |   |                    |              |   |          |   |
|     am      |   |                    |              |   |          |   |
|     co      |   |                    |              |   |          |   |
| nsolidating |   |                    |              |   |          |   |
|     a       |   |                    |              |   |          |   |
|     Federal |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|     into    |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     Direct  |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|     Program |   |                    |              |   |          |   |
|     to use  |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     Public  |   |                    |              |   |          |   |
|     Service |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| Forgiveness |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    Program, |   |                    |              |   |          |   |
|     I may   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| consolidate |   |                    |              |   |          |   |
|     an      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    existing |   |                    |              |   |          |   |
|     Federal |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan or |   |                    |              |   |          |   |
|     Direct  |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|     only if |   |                    |              |   |          |   |
|     I       |   |                    |              |   |          |   |
|     include |   |                    |              |   |          |   |
|     at      |   |                    |              |   |          |   |
|     least   |   |                    |              |   |          |   |
|     one     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  additional |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    eligible |   |                    |              |   |          |   |
|     loan in |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     con     |   |                    |              |   |          |   |
| solidation. |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| F.  If I am |   |                    |              |   |          |   |
|     co      |   |                    |              |   |          |   |
| nsolidating |   |                    |              |   |          |   |
|     a       |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  delinquent |   |                    |              |   |          |   |
|     Federal |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|     that    |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     lender  |   |                    |              |   |          |   |
|     has     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   submitted |   |                    |              |   |          |   |
|     to the  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    guaranty |   |                    |              |   |          |   |
|     agency  |   |                    |              |   |          |   |
|     for     |   |                    |              |   |          |   |
|     default |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    aversion |   |                    |              |   |          |   |
|     or a    |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   defaulted |   |                    |              |   |          |   |
|     Federal |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     loan,   |   |                    |              |   |          |   |
|     and I   |   |                    |              |   |          |   |
|     am not  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   including |   |                    |              |   |          |   |
|     another |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    eligible |   |                    |              |   |          |   |
|     loan, I |   |                    |              |   |          |   |
|     must    |   |                    |              |   |          |   |
|     agree   |   |                    |              |   |          |   |
|     to      |   |                    |              |   |          |   |
|     repay   |   |                    |              |   |          |   |
|     my      |   |                    |              |   |          |   |
|     Direct  |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|     under   |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     Income  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  Contingent |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   Repayment |   |                    |              |   |          |   |
|     Plan    |   |                    |              |   |          |   |
|     or,     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   effective |   |                    |              |   |          |   |
|     July 1, |   |                    |              |   |          |   |
|     2009,   |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     I       |   |                    |              |   |          |   |
| ncome-Based |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   Repayment |   |                    |              |   |          |   |
|     Plan.   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| **23.**     |   |                    |              |   |          |   |
| Under       |   |                    |              |   |          |   |
| penalty of  |   |                    |              |   |          |   |
| perjury, I  |   |                    |              |   |          |   |
| certify     |   |                    |              |   |          |   |
| that:       |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| A.  The     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| information |   |                    |              |   |          |   |
|     that I  |   |                    |              |   |          |   |
|     have    |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    provided |   |                    |              |   |          |   |
|     on this |   |                    |              |   |          |   |
|     Note is |   |                    |              |   |          |   |
|     true,   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   complete, |   |                    |              |   |          |   |
|     and     |   |                    |              |   |          |   |
|     correct |   |                    |              |   |          |   |
|     to the  |   |                    |              |   |          |   |
|     best of |   |                    |              |   |          |   |
|     my      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   knowledge |   |                    |              |   |          |   |
|     and     |   |                    |              |   |          |   |
|     belief  |   |                    |              |   |          |   |
|     and is  |   |                    |              |   |          |   |
|     made in |   |                    |              |   |          |   |
|     good    |   |                    |              |   |          |   |
|     faith.  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| B.  I do    |   |                    |              |   |          |   |
|     not     |   |                    |              |   |          |   |
|     have    |   |                    |              |   |          |   |
|     any     |   |                    |              |   |          |   |
|     other   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| application |   |                    |              |   |          |   |
|     pending |   |                    |              |   |          |   |
|     for a   |   |                    |              |   |          |   |
|     Federal |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|     with    |   |                    |              |   |          |   |
|     any     |   |                    |              |   |          |   |
|     FFEL    |   |                    |              |   |          |   |
|     Program |   |                    |              |   |          |   |
|     lender. |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| C.  All of  |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     loans   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    selected |   |                    |              |   |          |   |
|     for     |   |                    |              |   |          |   |
|     co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     have    |   |                    |              |   |          |   |
|     been    |   |                    |              |   |          |   |
|     used to |   |                    |              |   |          |   |
|     finance |   |                    |              |   |          |   |
|     my      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   education |   |                    |              |   |          |   |
|     or the  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   education |   |                    |              |   |          |   |
|     of my   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   dependent |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| student(s). |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| D.  All of  |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     loans   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    selected |   |                    |              |   |          |   |
|     for     |   |                    |              |   |          |   |
|     co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     are in  |   |                    |              |   |          |   |
|     a grace |   |                    |              |   |          |   |
|     period  |   |                    |              |   |          |   |
|     or in   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   repayment |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  (including |   |                    |              |   |          |   |
|     loans   |   |                    |              |   |          |   |
|     in      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   deferment |   |                    |              |   |          |   |
|     or      |   |                    |              |   |          |   |
|     fo      |   |                    |              |   |          |   |
| rbearance). |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| E.  Unless  |   |                    |              |   |          |   |
|     I am    |   |                    |              |   |          |   |
|     co      |   |                    |              |   |          |   |
| nsolidating |   |                    |              |   |          |   |
|     a       |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  delinquent |   |                    |              |   |          |   |
|     Federal |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|     that    |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     lender  |   |                    |              |   |          |   |
|     has     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   submitted |   |                    |              |   |          |   |
|     to the  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    guaranty |   |                    |              |   |          |   |
|     agency  |   |                    |              |   |          |   |
|     for     |   |                    |              |   |          |   |
|     default |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    aversion |   |                    |              |   |          |   |
|     or a    |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   defaulted |   |                    |              |   |          |   |
|     Federal |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan,   |   |                    |              |   |          |   |
|     or,     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   effective |   |                    |              |   |          |   |
|     July 1, |   |                    |              |   |          |   |
|     2008, I |   |                    |              |   |          |   |
|     am      |   |                    |              |   |          |   |
|     co      |   |                    |              |   |          |   |
| nsolidating |   |                    |              |   |          |   |
|     one or  |   |                    |              |   |          |   |
|     more    |   |                    |              |   |          |   |
|     FFEL    |   |                    |              |   |          |   |
|     Program |   |                    |              |   |          |   |
|     loans   |   |                    |              |   |          |   |
|     into    |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     Direct  |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|     Program |   |                    |              |   |          |   |
|     to use  |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     Public  |   |                    |              |   |          |   |
|     Service |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| Forgiveness |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    Program, |   |                    |              |   |          |   |
|     if none |   |                    |              |   |          |   |
|     of the  |   |                    |              |   |          |   |
|     loans I |   |                    |              |   |          |   |
|     am      |   |                    |              |   |          |   |
|     co      |   |                    |              |   |          |   |
| nsolidating |   |                    |              |   |          |   |
|     is a    |   |                    |              |   |          |   |
|     Direct  |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|     Program |   |                    |              |   |          |   |
|     loan, I |   |                    |              |   |          |   |
|     have    |   |                    |              |   |          |   |
|     sought  |   |                    |              |   |          |   |
|     and     |   |                    |              |   |          |   |
|     been    |   |                    |              |   |          |   |
|     unable  |   |                    |              |   |          |   |
|     to      |   |                    |              |   |          |   |
|     obtain  |   |                    |              |   |          |   |
|     a       |   |                    |              |   |          |   |
|     Federal |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|     from a  |   |                    |              |   |          |   |
|     FFEL    |   |                    |              |   |          |   |
|     Program |   |                    |              |   |          |   |
|     lender, |   |                    |              |   |          |   |
|     or I    |   |                    |              |   |          |   |
|     have    |   |                    |              |   |          |   |
|     been    |   |                    |              |   |          |   |
|     unable  |   |                    |              |   |          |   |
|     to      |   |                    |              |   |          |   |
|     obtain  |   |                    |              |   |          |   |
|     a       |   |                    |              |   |          |   |
|     Federal |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|     with    |   |                    |              |   |          |   |
|     incom   |   |                    |              |   |          |   |
| e-sensitive |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   repayment |   |                    |              |   |          |   |
|     terms   |   |                    |              |   |          |   |
|     or,     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   effective |   |                    |              |   |          |   |
|     July 1, |   |                    |              |   |          |   |
|     2009,   |   |                    |              |   |          |   |
|     i       |   |                    |              |   |          |   |
| ncome-based |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   repayment |   |                    |              |   |          |   |
|     terms   |   |                    |              |   |          |   |
|     that    |   |                    |              |   |          |   |
|     are     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  acceptable |   |                    |              |   |          |   |
|     to me.  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| F.  If I    |   |                    |              |   |          |   |
|     owe an  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| overpayment |   |                    |              |   |          |   |
|     on a    |   |                    |              |   |          |   |
|     Federal |   |                    |              |   |          |   |
|     Perkins |   |                    |              |   |          |   |
|     Loan,   |   |                    |              |   |          |   |
|     Federal |   |                    |              |   |          |   |
|     Pell    |   |                    |              |   |          |   |
|     Grant,  |   |                    |              |   |          |   |
|     Federal |   |                    |              |   |          |   |
|     S       |   |                    |              |   |          |   |
| upplemental |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| Educational |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| Opportunity |   |                    |              |   |          |   |
|     Grant,  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    Academic |   |                    |              |   |          |   |
|     Comp    |   |                    |              |   |          |   |
| etitiveness |   |                    |              |   |          |   |
|     Grant   |   |                    |              |   |          |   |
|     (ACG),  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    National |   |                    |              |   |          |   |
|     Science |   |                    |              |   |          |   |
|     or      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| Mathematics |   |                    |              |   |          |   |
|     Access  |   |                    |              |   |          |   |
|     to      |   |                    |              |   |          |   |
|     Retain  |   |                    |              |   |          |   |
|     Talent  |   |                    |              |   |          |   |
|     (SMART) |   |                    |              |   |          |   |
|     Grant,  |   |                    |              |   |          |   |
|     or      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  Leveraging |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| Educational |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  Assistance |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| Partnership |   |                    |              |   |          |   |
|     Grant,  |   |                    |              |   |          |   |
|     I have  |   |                    |              |   |          |   |
|     made    |   |                    |              |   |          |   |
|     s       |   |                    |              |   |          |   |
| atisfactory |   |                    |              |   |          |   |
|     a       |   |                    |              |   |          |   |
| rrangements |   |                    |              |   |          |   |
|     with    |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     holder  |   |                    |              |   |          |   |
|     to      |   |                    |              |   |          |   |
|     repay   |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     amount  |   |                    |              |   |          |   |
|     owed.   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| G.  If I am |   |                    |              |   |          |   |
|     in      |   |                    |              |   |          |   |
|     default |   |                    |              |   |          |   |
|     on any  |   |                    |              |   |          |   |
|     loan I  |   |                    |              |   |          |   |
|     am      |   |                    |              |   |          |   |
|     co      |   |                    |              |   |          |   |
| nsolidating |   |                    |              |   |          |   |
|     (except |   |                    |              |   |          |   |
|     as      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    provided |   |                    |              |   |          |   |
|     above   |   |                    |              |   |          |   |
|     in Item |   |                    |              |   |          |   |
|     22.F.), |   |                    |              |   |          |   |
|     I have  |   |                    |              |   |          |   |
|     either  |   |                    |              |   |          |   |
|     made a  |   |                    |              |   |          |   |
|     s       |   |                    |              |   |          |   |
| atisfactory |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   repayment |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| arrangement |   |                    |              |   |          |   |
|     with    |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     holder  |   |                    |              |   |          |   |
|     of that |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   defaulted |   |                    |              |   |          |   |
|     loan,   |   |                    |              |   |          |   |
|     or I    |   |                    |              |   |          |   |
|     will    |   |                    |              |   |          |   |
|     repay   |   |                    |              |   |          |   |
|     my      |   |                    |              |   |          |   |
|     Direct  |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan    |   |                    |              |   |          |   |
|     under   |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     income  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  contingent |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   repayment |   |                    |              |   |          |   |
|     plan    |   |                    |              |   |          |   |
|     or,     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   effective |   |                    |              |   |          |   |
|     July 1, |   |                    |              |   |          |   |
|     2009,   |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     I       |   |                    |              |   |          |   |
| ncome-Based |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   Repayment |   |                    |              |   |          |   |
|     Plan.   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| H.  If I    |   |                    |              |   |          |   |
|     have    |   |                    |              |   |          |   |
|     been    |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   convicted |   |                    |              |   |          |   |
|     of, or  |   |                    |              |   |          |   |
|     pled    |   |                    |              |   |          |   |
|     *nolo   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| contendere* |   |                    |              |   |          |   |
|     or      |   |                    |              |   |          |   |
|     guilty  |   |                    |              |   |          |   |
|     to, a   |   |                    |              |   |          |   |
|     crime   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   involving |   |                    |              |   |          |   |
|     fraud   |   |                    |              |   |          |   |
|     in      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   obtaining |   |                    |              |   |          |   |
|     federal |   |                    |              |   |          |   |
|     student |   |                    |              |   |          |   |
|     aid     |   |                    |              |   |          |   |
|     funds   |   |                    |              |   |          |   |
|     under   |   |                    |              |   |          |   |
|     Title   |   |                    |              |   |          |   |
|     IV of   |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     Higher  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   Education |   |                    |              |   |          |   |
|     Act of  |   |                    |              |   |          |   |
|     1965,   |   |                    |              |   |          |   |
|     as      |   |                    |              |   |          |   |
|     amended |   |                    |              |   |          |   |
|     (the    |   |                    |              |   |          |   |
|     Act), I |   |                    |              |   |          |   |
|     have    |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   completed |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   repayment |   |                    |              |   |          |   |
|     of      |   |                    |              |   |          |   |
|     those   |   |                    |              |   |          |   |
|     funds   |   |                    |              |   |          |   |
|     to ED,  |   |                    |              |   |          |   |
|     or to   |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     loan    |   |                    |              |   |          |   |
|     holder  |   |                    |              |   |          |   |
|     in the  |   |                    |              |   |          |   |
|     case of |   |                    |              |   |          |   |
|     a Title |   |                    |              |   |          |   |
|     IV      |   |                    |              |   |          |   |
|     federal |   |                    |              |   |          |   |
|     student |   |                    |              |   |          |   |
|     loan.   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| **24.** I   |   |                    |              |   |          |   |
| make the    |   |                    |              |   |          |   |
| following   |   |                    |              |   |          |   |
| auth        |   |                    |              |   |          |   |
| orizations: |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| A.  I       |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   authorize |   |                    |              |   |          |   |
|     ED to   |   |                    |              |   |          |   |
|     contact |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     holders |   |                    |              |   |          |   |
|     of the  |   |                    |              |   |          |   |
|     loans   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    selected |   |                    |              |   |          |   |
|     for     |   |                    |              |   |          |   |
|     co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     to      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   determine |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| eligibility |   |                    |              |   |          |   |
|     of the  |   |                    |              |   |          |   |
|     loans   |   |                    |              |   |          |   |
|     for     |   |                    |              |   |          |   |
|     co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     and the |   |                    |              |   |          |   |
|     payoff  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    amounts. |   |                    |              |   |          |   |
|     I       |   |                    |              |   |          |   |
|     further |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   authorize |   |                    |              |   |          |   |
|     release |   |                    |              |   |          |   |
|     to ED   |   |                    |              |   |          |   |
|     or its  |   |                    |              |   |          |   |
|     agent   |   |                    |              |   |          |   |
|     of any  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| information |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    required |   |                    |              |   |          |   |
|     to      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| consolidate |   |                    |              |   |          |   |
|     my      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   education |   |                    |              |   |          |   |
|     loans   |   |                    |              |   |          |   |
|     in      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  accordance |   |                    |              |   |          |   |
|     with    |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     Act.    |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| B.  I       |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   authorize |   |                    |              |   |          |   |
|     ED to   |   |                    |              |   |          |   |
|     issue   |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    proceeds |   |                    |              |   |          |   |
|     of my   |   |                    |              |   |          |   |
|     Direct  |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan to |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     holders |   |                    |              |   |          |   |
|     of the  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    selected |   |                    |              |   |          |   |
|     loans   |   |                    |              |   |          |   |
|     to pay  |   |                    |              |   |          |   |
|     off the |   |                    |              |   |          |   |
|     debts.  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| C.  I       |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   authorize |   |                    |              |   |          |   |
|     ED to   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| investigate |   |                    |              |   |          |   |
|     my      |   |                    |              |   |          |   |
|     credit  |   |                    |              |   |          |   |
|     record  |   |                    |              |   |          |   |
|     and     |   |                    |              |   |          |   |
|     report  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| information |   |                    |              |   |          |   |
|     about   |   |                    |              |   |          |   |
|     my loan |   |                    |              |   |          |   |
|     status  |   |                    |              |   |          |   |
|     to      |   |                    |              |   |          |   |
|     persons |   |                    |              |   |          |   |
|     and     |   |                    |              |   |          |   |
|     or      |   |                    |              |   |          |   |
| ganizations |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   permitted |   |                    |              |   |          |   |
|     by law  |   |                    |              |   |          |   |
|     to      |   |                    |              |   |          |   |
|     receive |   |                    |              |   |          |   |
|     that    |   |                    |              |   |          |   |
|     i       |   |                    |              |   |          |   |
| nformation. |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| D.  I       |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   authorize |   |                    |              |   |          |   |
|     my      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   school(s) |   |                    |              |   |          |   |
|     and ED  |   |                    |              |   |          |   |
|     to      |   |                    |              |   |          |   |
|     release |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| information |   |                    |              |   |          |   |
|     about   |   |                    |              |   |          |   |
|     my      |   |                    |              |   |          |   |
|     Direct  |   |                    |              |   |          |   |
|     Co      |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
|     Loan to |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  references |   |                    |              |   |          |   |
|     on the  |   |                    |              |   |          |   |
|     loan    |   |                    |              |   |          |   |
|     and to  |   |                    |              |   |          |   |
|     members |   |                    |              |   |          |   |
|     of my   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   immediate |   |                    |              |   |          |   |
|     family, |   |                    |              |   |          |   |
|     unless  |   |                    |              |   |          |   |
|     I       |   |                    |              |   |          |   |
|     submit  |   |                    |              |   |          |   |
|     written |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  directions |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  otherwise. |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| E.  I       |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   authorize |   |                    |              |   |          |   |
|     my      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  school(s), |   |                    |              |   |          |   |
|     ED, or  |   |                    |              |   |          |   |
|     their   |   |                    |              |   |          |   |
|     agents  |   |                    |              |   |          |   |
|     to      |   |                    |              |   |          |   |
|     verify  |   |                    |              |   |          |   |
|     my      |   |                    |              |   |          |   |
|     social  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    security |   |                    |              |   |          |   |
|     number  |   |                    |              |   |          |   |
|     with    |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     Social  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    Security |   |                    |              |   |          |   |
|     Adm     |   |                    |              |   |          |   |
| inistration |   |                    |              |   |          |   |
|     (SSA)   |   |                    |              |   |          |   |
|     and, if |   |                    |              |   |          |   |
|     the     |   |                    |              |   |          |   |
|     number  |   |                    |              |   |          |   |
|     on my   |   |                    |              |   |          |   |
|     loan    |   |                    |              |   |          |   |
|     record  |   |                    |              |   |          |   |
|     is      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|  incorrect, |   |                    |              |   |          |   |
|     then I  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|   authorize |   |                    |              |   |          |   |
|     SSA to  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    disclose |   |                    |              |   |          |   |
|     my      |   |                    |              |   |          |   |
|     correct |   |                    |              |   |          |   |
|     social  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    security |   |                    |              |   |          |   |
|     number  |   |                    |              |   |          |   |
|     to      |   |                    |              |   |          |   |
|     these   |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
|    parties. |   |                    |              |   |          |   |
+-------------+---+--------------------+--------------+---+----------+---+
| **Section   |   |                    |              |   |          |   |
| F:          |   |                    |              |   |          |   |
| Promissory  |   |                    |              |   |          |   |
| Note        |   |                    |              |   |          |   |
| (continued  |   |                    |              |   |          |   |
| on page 4)  |   |                    |              |   |          |   |
| -- to be    |   |                    |              |   |          |   |
| completed   |   |                    |              |   |          |   |
| and signed  |   |                    |              |   |          |   |
| by the      |   |                    |              |   |          |   |
| borrower.** |   |                    |              |   |          |   |
+-------------+---+--------------------+--------------+---+----------+---+
| **25.       |   |                    |              |   |          |   |
| Promise to  |   |                    |              |   |          |   |
| Pay:**      |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| I promise   |   |                    |              |   |          |   |
| to pay to   |   |                    |              |   |          |   |
| the U.S.    |   |                    |              |   |          |   |
| Department  |   |                    |              |   |          |   |
| of          |   |                    |              |   |          |   |
| Education   |   |                    |              |   |          |   |
| (ED) all    |   |                    |              |   |          |   |
| sums        |   |                    |              |   |          |   |
| disbursed   |   |                    |              |   |          |   |
| under the   |   |                    |              |   |          |   |
| terms of    |   |                    |              |   |          |   |
| this Note   |   |                    |              |   |          |   |
| to pay off  |   |                    |              |   |          |   |
| my prior    |   |                    |              |   |          |   |
| loan        |   |                    |              |   |          |   |
| o           |   |                    |              |   |          |   |
| bligations, |   |                    |              |   |          |   |
| plus        |   |                    |              |   |          |   |
| interest    |   |                    |              |   |          |   |
| and other   |   |                    |              |   |          |   |
| charges and |   |                    |              |   |          |   |
| fees that   |   |                    |              |   |          |   |
| may become  |   |                    |              |   |          |   |
| due as      |   |                    |              |   |          |   |
| provided in |   |                    |              |   |          |   |
| this Note.  |   |                    |              |   |          |   |
| If I do not |   |                    |              |   |          |   |
| make        |   |                    |              |   |          |   |
| payments on |   |                    |              |   |          |   |
| this Note   |   |                    |              |   |          |   |
| when due, I |   |                    |              |   |          |   |
| will also   |   |                    |              |   |          |   |
| pay         |   |                    |              |   |          |   |
| reasonable  |   |                    |              |   |          |   |
| collection  |   |                    |              |   |          |   |
| costs,      |   |                    |              |   |          |   |
| including   |   |                    |              |   |          |   |
| but not     |   |                    |              |   |          |   |
| limited to  |   |                    |              |   |          |   |
| attorney's  |   |                    |              |   |          |   |
| fees, court |   |                    |              |   |          |   |
| costs, and  |   |                    |              |   |          |   |
| other fees. |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| If ED       |   |                    |              |   |          |   |
| accepts my  |   |                    |              |   |          |   |
| a           |   |                    |              |   |          |   |
| pplication, |   |                    |              |   |          |   |
| I           |   |                    |              |   |          |   |
| understand  |   |                    |              |   |          |   |
| that ED     |   |                    |              |   |          |   |
| will on my  |   |                    |              |   |          |   |
| behalf send |   |                    |              |   |          |   |
| funds to    |   |                    |              |   |          |   |
| the holders |   |                    |              |   |          |   |
| of the      |   |                    |              |   |          |   |
| loans that  |   |                    |              |   |          |   |
| I want to   |   |                    |              |   |          |   |
| consolidate |   |                    |              |   |          |   |
| to pay off  |   |                    |              |   |          |   |
| those       |   |                    |              |   |          |   |
| loans. I    |   |                    |              |   |          |   |
| further     |   |                    |              |   |          |   |
| understand  |   |                    |              |   |          |   |
| that the    |   |                    |              |   |          |   |
| amount of   |   |                    |              |   |          |   |
| my Direct   |   |                    |              |   |          |   |
| Co          |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
| Loan will   |   |                    |              |   |          |   |
| equal the   |   |                    |              |   |          |   |
| sum of the  |   |                    |              |   |          |   |
| amounts     |   |                    |              |   |          |   |
| that the    |   |                    |              |   |          |   |
| holders of  |   |                    |              |   |          |   |
| the loans   |   |                    |              |   |          |   |
| verified as |   |                    |              |   |          |   |
| the payoff  |   |                    |              |   |          |   |
| balances on |   |                    |              |   |          |   |
| the loans   |   |                    |              |   |          |   |
| selected    |   |                    |              |   |          |   |
| for         |   |                    |              |   |          |   |
| con         |   |                    |              |   |          |   |
| solidation. |   |                    |              |   |          |   |
| My          |   |                    |              |   |          |   |
| signature   |   |                    |              |   |          |   |
| on this     |   |                    |              |   |          |   |
| Note serves |   |                    |              |   |          |   |
| as my       |   |                    |              |   |          |   |
| au          |   |                    |              |   |          |   |
| thorization |   |                    |              |   |          |   |
| to pay off  |   |                    |              |   |          |   |
| the         |   |                    |              |   |          |   |
| balances of |   |                    |              |   |          |   |
| the loans   |   |                    |              |   |          |   |
| selected    |   |                    |              |   |          |   |
| for         |   |                    |              |   |          |   |
| co          |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
| as provided |   |                    |              |   |          |   |
| by the      |   |                    |              |   |          |   |
| holders of  |   |                    |              |   |          |   |
| the loans.  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| The payoff  |   |                    |              |   |          |   |
| amount may  |   |                    |              |   |          |   |
| be greater  |   |                    |              |   |          |   |
| than or     |   |                    |              |   |          |   |
| less than   |   |                    |              |   |          |   |
| the         |   |                    |              |   |          |   |
| estimated   |   |                    |              |   |          |   |
| total       |   |                    |              |   |          |   |
| balance I   |   |                    |              |   |          |   |
| have        |   |                    |              |   |          |   |
| indicated   |   |                    |              |   |          |   |
| in Section  |   |                    |              |   |          |   |
| C1.         |   |                    |              |   |          |   |
| Further, I  |   |                    |              |   |          |   |
| understand  |   |                    |              |   |          |   |
| that if any |   |                    |              |   |          |   |
| collection  |   |                    |              |   |          |   |
| costs are   |   |                    |              |   |          |   |
| owed on the |   |                    |              |   |          |   |
| loans       |   |                    |              |   |          |   |
| selected    |   |                    |              |   |          |   |
| for         |   |                    |              |   |          |   |
| con         |   |                    |              |   |          |   |
| solidation, |   |                    |              |   |          |   |
| these costs |   |                    |              |   |          |   |
| may be      |   |                    |              |   |          |   |
| added to    |   |                    |              |   |          |   |
| the         |   |                    |              |   |          |   |
| principal   |   |                    |              |   |          |   |
| balance of  |   |                    |              |   |          |   |
| my Direct   |   |                    |              |   |          |   |
| Co          |   |                    |              |   |          |   |
| nsolidation |   |                    |              |   |          |   |
| Loan.       |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| I will not  |   |                    |              |   |          |   |
| sign this   |   |                    |              |   |          |   |
| Note before |   |                    |              |   |          |   |
| reading the |   |                    |              |   |          |   |
| entire      |   |                    |              |   |          |   |
| Note, even  |   |                    |              |   |          |   |
| if I am     |   |                    |              |   |          |   |
| told not to |   |                    |              |   |          |   |
| read it. I  |   |                    |              |   |          |   |
| am entitled |   |                    |              |   |          |   |
| to an exact |   |                    |              |   |          |   |
| copy of     |   |                    |              |   |          |   |
| this Note   |   |                    |              |   |          |   |
| and the     |   |                    |              |   |          |   |
| Borrower's  |   |                    |              |   |          |   |
| Rights and  |   |                    |              |   |          |   |
| Respo       |   |                    |              |   |          |   |
| nsibilities |   |                    |              |   |          |   |
| Statement.  |   |                    |              |   |          |   |
| My          |   |                    |              |   |          |   |
| signature   |   |                    |              |   |          |   |
| certifies   |   |                    |              |   |          |   |
| that I have |   |                    |              |   |          |   |
| read,       |   |                    |              |   |          |   |
| understand, |   |                    |              |   |          |   |
| and agree   |   |                    |              |   |          |   |
| to the      |   |                    |              |   |          |   |
| terms and   |   |                    |              |   |          |   |
| conditions  |   |                    |              |   |          |   |
| of this     |   |                    |              |   |          |   |
| Note,       |   |                    |              |   |          |   |
| including   |   |                    |              |   |          |   |
| the         |   |                    |              |   |          |   |
| Borrower    |   |                    |              |   |          |   |
| Unde        |   |                    |              |   |          |   |
| rstandings, |   |                    |              |   |          |   |
| Cert        |   |                    |              |   |          |   |
| ifications, |   |                    |              |   |          |   |
| and         |   |                    |              |   |          |   |
| Aut         |   |                    |              |   |          |   |
| horizations |   |                    |              |   |          |   |
| in Section  |   |                    |              |   |          |   |
| E, and the  |   |                    |              |   |          |   |
| Borrower's  |   |                    |              |   |          |   |
| Rights and  |   |                    |              |   |          |   |
| Respo       |   |                    |              |   |          |   |
| nsibilities |   |                    |              |   |          |   |
| Statement.  |   |                    |              |   |          |   |
|             |   |                    |              |   |          |   |
| **I         |   |                    |              |   |          |   |
| UNDERSTAND  |   |                    |              |   |          |   |
| THAT THIS   |   |                    |              |   |          |   |
| IS A LOAN   |   |                    |              |   |          |   |
| THAT I MUST |   |                    |              |   |          |   |
| REPAY.**    |   |                    |              |   |          |   |
+-------------+---+--------------------+--------------+---+----------+---+
| **26.       |   |                    | **Today's    |   |          |   |
| Borrower's  |   |                    | Date         |   |          |   |
| Signature** |   |                    | (m           |   |          |   |
|             |   |                    | m-dd-yyyy)** |   |          |   |
+-------------+---+--------------------+--------------+---+----------+---+
|             |   |                    |              |   |          |   |
+-------------+---+--------------------+--------------+---+----------+---+

  -----------------------------------------------------------------------
  **Promissory Note -- continued from page 3**

  -----------------------------------------------------------------------

##### Governing Law

The terms of this Federal Direct Consolidation Loan Application and
Promissory Note (Note) will be interpreted in accordance with the Higher
Education Act of 1965, as amended (20 U.S.C. 1070 [et
seq]{.underline}.), the U.S. Department of Education's (ED's)
regulations, as they may be amended in accordance with their effective
date, and other applicable federal laws and regulations (collectively
referred to as the "Act"). Applicable state law, except as preempted by
federal law, may provide for certain borrower rights, remedies, and
defenses in addition to those stated in this Note.

######### Disclosure of Loan Terms

This Note applies to a Federal Direct Consolidation Loan (Direct
Consolidation Loan). Under this Note, the principal amount that I owe,
and am required to repay, will be equal to all sums disbursed to pay off
my prior loan obligations, plus any unpaid interest that is capitalized
and added to the principal amount.

My Direct Consolidation Loan may have up to two separate loan
identification numbers depending on the loans I choose to consolidate.
These loan identification numbers will represent prior subsidized loans
and prior unsubsidized loans. Each applicable loan identification number
is represented by this Note.

When the loans that I am consolidating are paid off, a disclosure
statement will be sent to me identifying the amount of my Direct
Consolidation Loan, the associated loan identification numbers, and
additional terms of the loan. Important additional information is also
contained in the Borrower's Rights and Responsibilities Statement. The
Borrower's Rights and Responsibilities Statement and any disclosure I
receive in connection with the loan made under this Note are hereby
incorporated into this Note.

##### Interest

Interest will be calculated using a formula provided for by the Act.
Unless ED notifies me in writing of a lower rate, the interest rate on
my Direct Consolidation Loan will be based on the weighted average of
the interest rates on the loans being consolidated, rounded to the
nearest higher one-eighth of one percent, but will not exceed 8.25%.
This is a fixed interest rate, which means that the rate will remain the
same throughout the life of the loan.

Except for interest ED does not charge me during a deferment period on
the subsidized portion of my Direct Consolidation Loan, I agree to pay
interest on the principal amount of my Direct Consolidation Loan from
the date of disbursement until the loan is paid in full or discharged.
ED may add interest that accrues but is not paid when due to the unpaid
principal balance of this loan, as provided under the Act. This is
called capitalization.

##### Late Charges and Collection Costs

ED may collect from me: (1) a late charge of not more than six cents for
each dollar of each late payment if I fail to make any part of a
required installment payment within 30 days after it becomes due, and
(2) any other charges and fees that are permitted by the Act related to
the collection of my Direct Consolidation Loan. If I default on my loan,
I will pay reasonable collection costs, plus court costs and attorney
fees.

**Repayment**

I must repay the full amount of the Direct Consolidation Loan made under
this Note, plus accrued interest. I will repay my loan in monthly
installments during a repayment period that begins on the date of the
first disbursement of the loan, unless it is in a deferment or
forbearance period. Payments made by me or on my behalf will be applied
first to late charges and collection costs that are due, then to
interest that has not been paid, and finally to the principal amount of
the loan, except during periods of repayment under the Income-Based
Repayment Plan. Under the Income-Based Repayment Plan, payments will be
applied first to interest that is due, then to fees that are due, and
then to the principal amount.

ED will provide me with a choice of repayment plans. Information on
these plans is included in the Borrower's Rights and Responsibilities
Statement. I must select a repayment plan. If I do not select a
repayment plan, ED will choose a plan for me in accordance with ED's
regulations.

ED will provide me with a repayment schedule that identifies my payment
amounts and due dates. My first payment will be due within 60 days of
the first disbursement of my Direct Consolidation Loan unless it is in a
deferment or forbearance period. If I am unable to make my scheduled
loan payments, ED may allow me to temporarily stop making payments,
reduce my payment amount, or extend the time for making payments, as
long as I intend to repay my loan. Allowing me to temporarily delay or
reduce loan payments is called forbearance.

ED may adjust payment dates on my Direct Consolidation Loan or may grant
me forbearance to eliminate a delinquency that remains even though I am
making scheduled installment payments.

I may prepay any part of the unpaid balance on my loan at any time
without penalty. After I have repaid my Direct Consolidation Loan in
full, ED will send me a notice telling me that I have paid off my loan.

######### Acceleration and Default

At ED's option, the entire unpaid balance of the Direct Consolidation
Loan will become immediately due and payable (this is called
"acceleration") if either of the following events occurs: (1) I make a
false representation that results in my receiving a loan for which I am
not eligible; or (2) I default on the loan.

The following events will constitute a default on my loan: (1) I fail to
pay the entire unpaid balance of the loan after ED has exercised its
option under the preceding paragraph; (2) I fail to make installment
payments when due, provided my failure has persisted for at least 270
days; or (3) I fail to comply with other terms of the loan, and ED
reasonably concludes that I no longer intend to honor my repayment
obligation. If I default, ED may capitalize all outstanding interest
into a new principal balance, and collection costs will become
immediately due and payable.

If I default, the default will be reported to national credit bureaus
and will significantly and adversely affect my credit rating. I
understand that a default will have additional adverse consequences to
me as disclosed in the Borrower's Rights and Responsibilities Statement.
I also understand that if I default, ED may require me to repay the loan
under an income contingent repayment plan in accordance with the Act.

######### Legal Notices

Any notice required to be given to me will be effective if mailed by
first class mail to the most recent address that ED has for me. I will
immediately notify ED of a change of address or status, as specified in
the Borrower's Rights and Responsibilities Statement.

If ED fails to enforce or insist on compliance with any term on this
Note, this does not waive any right of ED. No provision of this Note may
be modified or waived except in writing by ED. If any provision of this
Note is determined to be unenforceable, the remaining provisions will
remain in force.

  -----------------------------------------------------------------------
  **Borrower's Rights and Responsibilities Statement**

  -----------------------------------------------------------------------

***Important Notice:** This Borrower's Rights and Responsibilities
Statement provides additional information about the terms and conditions
of the loan you will receive under the accompanying Federal Direct
Consolidation Loan (Direct Consolidation Loan) Application and
Promissory Note (Note). **Please keep a copy of the Note and this
Borrower's Rights and Responsibilities Statement for your records.***

*In this document, the words "we," "us," and "our" refer to the U.S.
Department of Education. The word "loan" refers to your Direct
Consolidation Loan.*

**1. The William D. Ford Federal Direct Loan Program.** The William D.
Ford Federal Direct Loan (Direct Loan) Program includes the following
types of loans, known collectively as "Direct Loans":

-   Federal Direct Stafford/Ford Loans (Direct Subsidized Loans)

-   Federal Direct Unsubsidized Stafford/Ford Loans (Direct Unsubsidized
    Loans)

-   Federal Direct PLUS Loans (Direct PLUS Loans)

-   Federal Direct Consolidation Loans (Direct Consolidation Loans)

The Direct Loan Program is authorized by Title IV, Part D, of the Higher
Education Act of 1965, as amended.

Direct Loans are made by the U.S. Department of Education. Our Direct
Loan Servicing Center services, answers questions about, and processes
payments on Direct Loans. We will provide you with the Direct Loan
Servicing Center's address and telephone number.

**2. Laws that apply to this Note.** The terms and conditions of loans
made under this Note are determined by the Higher Education Act of 1965,
as amended (20 U.S.C. 1070 [et seq]{.underline}.) and other applicable
federal laws and regulations. These laws and regulations are referred to
as "the Act" throughout this Borrower's Rights and Responsibilities
Statement. State law, unless it is preempted by federal law, may provide
you with certain rights, remedies, and defenses in addition to those
stated in the Note and this Borrower's Rights and Responsibilities
Statement.

**NOTE: Any change to the Act applies to loans in accordance with the
effective date of the change.**

**3. Direct Consolidation Loan identification numbers.** Depending on
the type(s) of federal education loan(s) that you choose to consolidate,
your loan may have up to two individual loan identification numbers.
However, you will have only one Direct Consolidation Loan and will
receive only one bill.

**3a.** The subsidized portion of your loan ("Direct Subsidized
Consolidation Loan") will have one loan identification number
representing the amount of the following types of loans that you
consolidate:

-   Subsidized Federal Stafford Loans

-   Direct Subsidized Loans

-   Subsidized Federal Consolidation Loans

-   Direct Subsidized Consolidation Loans

-   Federal Insured Student Loans (FISL)

-   Guaranteed Student Loans (GSL)

**3b.** The unsubsidized portion of your loan ("Direct Unsubsidized
Consolidation Loan") will have one identification number representing
the amount of the following types of loans that you consolidate:

-   Unsubsidized and Nonsubsidized Federal Stafford Loans

-   Direct Unsubsidized Loans

-   Unsubsidized Federal Consolidation Loans

-   Direct Unsubsidized Consolidation Loans

-   Federal PLUS Loans (for parents or for graduate and professional
    students)

-   Direct PLUS Loans (for parents or for graduate and professional
    students)

-   Direct PLUS Consolidation Loans

-   Federal Perkins Loans

-   National Direct Student Loans (NDSL)

-   National Defense Student Loans (NDSL)

-   Federal Supplemental Loans for Students (SLS)

```{=html}
<!-- -->
```
-   Parent Loans for Undergraduate Students (PLUS)

```{=html}
<!-- -->
```
-   Auxiliary Loans to Assist Students (ALAS)

-   Health Professions Student Loans (HPSL)

-   Health Education Assistance Loans (HEAL)

-   Nursing Student Loans (NSL)

-   Loans for Disadvantaged Students (LDS)

**4. Adding eligible loans to your Direct Consolidation Loan.** You may
add eligible loans to your Direct Consolidation Loan by submitting a
request to us within 180 days of the date your Direct Consolidation Loan
is made. (Your Direct Consolidation Loan is "made" on the date we pay
off the first loan that you are consolidating.) After we pay off any
loans that you add during the 180-day period, we will notify you of the
new total amount of your Direct Consolidation Loan and of any
adjustments that must be made to your monthly payment amount.

If you want to consolidate an additional eligible loan after the 180-day
period, you must apply for a new Direct Consolidation Loan.

**5. Loans that may be consolidated.** *General.* Only the federal
education loans listed in Items 3a.and 3b. of this Borrower's Rights and
Responsibilities Statement may be consolidated into a Direct
Consolidation Loan. You may only consolidate loans that are in a grace
period or in repayment (including loans in deferment or forbearance). At
least one of the loans that you consolidate must be a Direct Loan
Program loan or a Federal Family Education Loan (FFEL) Program loan.

*Defaulted loans.* You may consolidate a loan that is in default if
**(a)** you first make satisfactory repayment arrangements with the
holder of the defaulted loan, or **(b)** you agree to repay your Direct
Consolidation Loan under the Income Contingent Repayment Plan (see Item
10).

*Existing consolidation loans.* Generally, you may consolidate an
existing Direct Consolidation Loan or Federal Consolidation Loan into a
new Direct Consolidation Loan only if you include at least one
additional eligible loan in the consolidation. However, you may
consolidate a Federal Consolidation Loan into a new Direct Consolidation
Loan without including an additional loan if the Federal Consolidation
Loan is delinquent and has been submitted by the lender to the guaranty
agency for default aversion, or if the Federal Consolidation Loan is in
default. In such cases, you must agree to repay the new Direct
Consolidation Loan under the Income Contingent Repayment Plan or,
effective July 1, 2009, the Income-Based Repayment Plan. Effective July
1, 2008, you may also consolidate a single Federal Consolidation Loan
into a new Direct Consolidation Loan for purposes of using the public
service loan forgiveness program described in Item 16 of this Borrower's
Rights and Responsibilities Statement.

**6. Information you must report to us.** Until your loan is repaid, you
must notify the Direct Loan Servicing Center if you:

-   Change your address or telephone number;

```{=html}
<!-- -->
```
-   Change your name (for example, maiden name to married name);

```{=html}
<!-- -->
```
-   Change your employer or your employer's address or telephone number
    changes; or

```{=html}
<!-- -->
```
-   Have any other change in status that would affect your loan (for
    example, if you received a deferment while you were unemployed, but
    have found a job and therefore no longer meet the eligibility
    requirements for the deferment)

**7. Interest rate.** The interest rate on your Direct Consolidation
Loan will be **the lesser of** the weighted average of the interest
rates on the loans being consolidated, rounded to the nearest higher
one-eighth of one percent, OR 8.25%. We will send you a notice that
tells you the interest rate on your loan.

The interest rate on a Direct Consolidation Loan is a fixed rate. This
means that the interest rate will remain the same throughout the life of
your loan.

**8. Payment of interest.** We charge interest on a Direct Consolidation
Loan from the date the loan is made until it is paid in full or
discharged, including during periods of deferment or forbearance.
However, we do not charge interest on the subsidized portion of a Direct
Consolidation Loan ("Direct Subsidized Consolidation Loan" -- see Item
3a.) during deferment periods.

If you do not pay the interest as it is charged during the periods
described above, we will add the interest to the unpaid principal amount
of your loan at the end of the deferment or forbearance period. This is
called "capitalization." Capitalization increases the unpaid principal
balance of your loan, and we will then charge interest on the increased
principal amount.

The chart below shows the difference in the total amount you would repay
on a \$15,000 Direct Unsubsidized Consolidation Loan if you pay the
interest as it is charged during a 12-month deferment or forbearance
period, compared to the amount you would repay if you do not pay the
interest and it is capitalized.

[]{.mark}

  ----------------------- ----------------------- ------------------------
                          **If you pay the        **If you do not pay the
                          interest as it is       interest and it is
                          charged...**            capitalized...**

  **Loan Amount**         \$15,000                \$15,000

  **Capitalized Interest  \$0                     \$1,238
  for 12 months (at the                           
  maximum rate of                                 
  8.25%)**                                        

  **Principal to be       \$15,000                \$16,238
  Repaid**                                        

  **Monthly Payment       \$146                   \$158
  (Standard Repayment                             
  Plan)**                                         

  **Number of Payments**  180                     180

  **Total Amount Repaid** \$26,209                \$28,359
  ----------------------- ----------------------- ------------------------

In this example, you would pay \$12 less per month and \$2,150 less
altogether if you pay the interest as it is charged during a 12-month
deferment or forbearance period.

You may be able to claim a federal income tax deduction for interest
payments you make on Direct Loans. For further information, refer to IRS
Publication 970, which is available at
[http://www.irs.ustreas.gov]{.underline}.

**9. Repayment incentive programs.** A repayment incentive is a benefit
that we offer to encourage you to repay your loan on time. Under a
repayment incentive program, the interest rate we charge on your loan
may be reduced. Some repayment incentive programs require you to make a
certain number of payments on time to keep the reduced interest rate.
For Direct Consolidation Loans, the following repayment incentive
program may be available to you:

*Interest Rate Reduction for Electronic Debit Account Repayment*

Under the Electronic Debit Account (EDA) repayment option, your bank
automatically deducts your monthly loan payment from your checking or
savings account and sends it to us. EDA helps to ensure that your
payments are made on time. In addition, you receive a 0.25 percent
interest rate reduction while you repay under the EDA option. We will
include information about the EDA option in your first bill. You can
also get this information on the Direct Loan Servicing Center's web
site, or by calling the Direct Loan Servicing Center's toll-free
telephone number (the web site address and telephone number are provided
on all correspondence that the Direct Loan Servicing Center sends you).

The Direct Loan Servicing Center can provide you with more information
on other repayment incentive programs that may be available.

**Note:** Another repayment incentive program, the up-front interest
rebate, is available on Direct Subsidized Loans, Direct Unsubsidized
Loans, and Direct PLUS Loans. The rebate is equal to a percentage of the
loan amount, and is the same amount that would result if the interest
rate on the loan were lowered by a specific percentage. To permanently
keep an up-front interest rebate, a borrower must make each of the first
12 required monthly payments on time when the loan enters repayment. If
you consolidate a Direct Loan on which you received an up-front interest
rebate before you permanently earn the rebate (the correspondence you
received about your loan will tell you if you received a rebate), you
will have to make the first 12 required monthly payments on your Direct
Consolidation Loan on time to keep the interest rebate. 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. This will increase
the amount that you must repay.

**10. Repaying your loan.** Your first payment will be due within 60
days of the first disbursement of your Direct Consolidation Loan unless
your loan is in a deferment or forbearance period. The Direct Loan
Servicing Center will notify you of the date your first payment is due.

You must make payments on your loan even if you do not receive a bill or
repayment notice. Billing information is sent to you as a convenience,
and you are obligated to make payments even if you do not receive a bill
or notice.

You may choose one of the following repayment plans to repay your loan:

-   **Standard Repayment Plan** -- Under this plan, you will make fixed
    monthly payments and repay your loan in full within 10 to 30 years
    (not including periods of deferment or forbearance) from the date
    the loan entered repayment, depending on the amount of your Direct
    Consolidation Loan and the amount of your other student loan debt as
    listed in Section C2 of your Note (see the chart below). Your
    payments must be at least \$50 a month and will be more, if
    necessary, to repay the loan within the required time period.

-   **Graduated Repayment Plan** -- Under this plan, your payments will
    be lower at first and will then increase over time, usually every
    two years. You will repay your loan in full within 10 to 30 years
    (not including periods of deferment or forbearance) from the date
    the loan entered repayment, depending on the total amount of your
    Direct Consolidation Loan and the amount of your other student loan
    debt as listed in Section C2 of your Note (see the chart below). No
    single payment under this plan will be more than three times greater
    than any other payment.

+------------------------------------+---------------------------------+
| **Maximum Repayment Periods Under  |                                 |
| the Standard and Graduated         |                                 |
| Repayment Plans**                  |                                 |
+------------------------------------+---------------------------------+
| **Total Education Loan             | #                               |
| Indebtedness**                     | ###### Maximum Repayment Period |
+------------------------------------+---------------------------------+
| Less than \$7,500                  | 10 years                        |
+------------------------------------+---------------------------------+
| \$7,500 to \$9,999                 | 12 years                        |
+------------------------------------+---------------------------------+
| \$10,000 to \$19,999               | 15 years                        |
+------------------------------------+---------------------------------+
| \$20,000 to \$39,999               | 20 years                        |
+------------------------------------+---------------------------------+
| \$40,000 to \$59,999               | 25 years                        |
+------------------------------------+---------------------------------+
| \$60,000 or more                   | 30 years                        |
+------------------------------------+---------------------------------+

-   **Extended Repayment Plan** -- You may choose this plan only if
    **(1)** you had no outstanding balance on a Direct Loan Program loan
    as of October 7, 1998, or on the date you obtained a Direct Loan
    Program loan on or after October 7, 1998, and **(2)** you have an
    outstanding balance on Direct Loan Program Loans that exceeds
    \$30,000. Under this plan, you may choose to make either fixed or
    graduated monthly payments and will repay your loan in full over a
    repayment period not to exceed 25 years (not including periods of
    deferment or forbearance) from the date your loan entered repayment.
    If you choose to make fixed monthly payments, your payments must be
    at least \$50 a month and will be more, if necessary, to repay the
    loan within the required time period. If you choose to make
    graduated monthly payments, your payments will start out lower and
    will then increase over time, generally every two years. Under a
    graduated repayment schedule, your monthly payment must at least be
    equal to the amount of interest that accrues each month, and no
    single payment will be more than three times greater than any other
    payment.

-   **Income Contingent Repayment Plan** -- Under this plan, your
    monthly payment amount will be based on your adjusted gross income
    (and that of your spouse if you are married), your family size, and
    the total amount of your Direct Loans. Until we obtain the
    information needed to calculate your monthly payment amount, your
    payment will equal the amount of interest that has accrued on your
    loan unless you request a forbearance. As your income changes, your
    payments may change. If you do not repay your loan after 25 years
    under this plan, the unpaid portion will be forgiven. You may have
    to pay income tax on any amount forgiven.

-   **Income-Based Repayment Plan (effective July 1, 2009)** -- Under
    this plan, your required monthly payment amount will be based on
    your income during any period when you have a partial financial
    hardship. Your monthly payment amount may be adjusted annually. The
    maximum repayment period under this plan may exceed 10 years. If you
    meet certain requirements over a specified period, you may qualify
    for cancellation of any outstanding balance on your loans. **NOTE:**
    Direct Consolidation Loans that repaid parent Direct PLUS Loans or
    parent Federal PLUS Loans may not be repaid under the Income-Based
    Repayment Plan.

If you can show to our satisfaction that the terms and conditions of
these repayment plans are not adequate to meet your exceptional
circumstances, we may provide you with an alternative repayment plan.

If you do not choose a repayment plan, we will choose a plan for you in
accordance with the Act.

You may change repayment plans at any time after you have begun repaying
your loan. There is no penalty if you make loan payments before they are
due, or pay more than the amount due each month.

Except as provided by the Act for payments made under the Income-Based
Repayment Plan, we apply your payments and prepayments in the following
order: late charges and collection costs first, outstanding interest
second, and outstanding principal last.

When you have repaid your loan in full, the Direct Loan Servicing Center
will send you a notice telling you that you have paid off your loan. You
should keep this notice in a safe place.

**11.** **Late charges and collection costs.** If you do not make any
part of a payment within 30 days after it is due, we may require you to
pay a late charge. This charge will not be more than six cents for each
dollar of each late payment. If you do not make payments as scheduled,
we may also require you to pay other charges and fees involved in
collecting your loan.

**12. Demand for immediate repayment.** The entire unpaid amount of your
loan becomes due and payable (on your Note this is called
"acceleration") if you:

-   Make a false statement that causes you to receive a loan that you
    are not eligible to receive; or

-   Default on your loan.

**13. Defaulting on your loan.** Default (failing to repay your loan) is
defined in detail in the "Promissory Note" section on page 4 of your
Note. If you default:

-   We will require you to immediately repay the entire unpaid amount of
    your loan.

-   We may sue you, take all or part of your federal tax refund or other
    federal payments, and/or garnish your wages so that your employer is
    required to send us part of your wages to pay off your loan.

-   We will require you to pay reasonable collection fees and costs,
    plus court costs and attorney fees.

-   You will lose eligibility for other federal student aid and
    assistance under most federal benefit programs.

-   You will lose eligibility for loan deferments.

```{=html}
<!-- -->
```
-   We will also report your default to national credit bureaus (see
    Item 14).

**14. Credit bureau notification.** 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 delinquent in making
payments).

If you default on a loan, we will also report this to national credit
bureaus. We will notify you at least 30 days in advance that we plan to
report default information to a credit bureau unless you resume making
payments on the loan within 30 days. You will be given a chance to ask
for a review of the debt before we report it.

If a credit bureau contacts us regarding objections you have raised
about the accuracy or completeness of any information we have reported,
we are required to provide the credit bureau with a prompt response.

**15. Deferment and forbearance (postponing payments).** If you meet
certain requirements, you may receive a **deferment** that allows you to
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**. A forbearance allows you to temporarily stop
making payments on your loan, temporarily make smaller payments, or
extend the time for making payments.

###### Deferment

You may receive a deferment while you are:

-   Enrolled at least half-time at an eligible school;

-   In a full-time course of study in a graduate fellowship program;

-   In an approved full-time rehabilitation program for individuals with
    disabilities;

-   Unemployed (for a maximum of three years; you must be
    conscientiously seeking, but unable to find, full-time employment);
    or

```{=html}
<!-- -->
```
-   Experiencing an economic hardship (including Peace Corps service),
    as determined under the Act (for a maximum of three years).

-   Serving on active duty during a war or other military operation or
    national emergency, or performing qualifying National Guard duty
    during a war or other military operation or national emergency, and
    if you are serving on or after October 1, 2007, for the 180-day
    period following the demobilization date for your qualifying
    service.

Effective October 1, 2007, if you are a member of the National Guard or
other reserve component of the U.S. Armed Forces (current or retired)
and you are called or ordered to active duty while enrolled at an
eligible school, or within 6 months of having been enrolled, you are
eligible for a deferment during the 13 months following the conclusion
of the active duty service, or until the date you return to enrolled
student status, whichever is earlier.

You may be eligible to receive additional deferments if, at the time you
received your first Direct Loan, you had an outstanding balance on a
loan made under the Federal Family Education Loan (FFEL) Program before
July 1, 1993. If you meet this requirement, you may receive a deferment
while you are:

-   Temporarily totally disabled, or unable to work because you are
    required to care for a spouse or dependent who is disabled (for a
    maximum of three years);

-   On active duty in the U.S. Armed Forces, on active duty in the
    National Oceanic and Atmospheric Administration (NOAA), or serving
    full-time as an officer in the Commissioned Corps of the Public
    Health Service (for a combined maximum of three years);

-   Serving in the Peace Corps (for a maximum of three years);

-   A full-time paid volunteer for a tax-exempt organization or an
    ACTION program (for a maximum of three years);

-   In a medical internship or residency program (for a maximum of two
    years);

-   Teaching in a designated teacher shortage area (for a maximum of
    three years);

-   On parental leave (for a maximum of six months);

-   A working mother entering or re-entering the workforce (for a
    maximum of one year); or

-   While the student for whom you borrowed a PLUS loan is dependent and
    is enrolled at least half-time at an eligible school, or is in an
    approved full-time rehabilitation training program for individuals
    with disabilities.

You may receive a deferment based on your enrollment in school on at
least a half-time basis if **(1)** you submit a deferment request form
to the Direct Loan Servicing Center along with documentation of your
eligibility for the deferment, or **(2)** the Direct Loan Servicing
Center receives information from the school you are attending that
indicates you are enrolled at least half-time. If the Direct Loan
Servicing Center processes a deferment based on information received
from your school, you will be notified of the deferment and will have
the option of canceling the deferment and continuing to make payments on
your loan.

For all other deferments, you (or, for a deferment based on active
military duty or qualifying National Guard duty during a war or other
military operation or national emergency, your representative) must
submit a deferment request form to the Direct Loan Servicing Center,
along with documentation of your eligibility for the deferment. In
certain circumstances, you may not be required to provide documentation
of your eligibility if the Direct Loan Servicing Center confirms that
you have been granted the same deferment for the same period of time on
a FFEL Program loan. The Direct Loan Servicing Center can provide you
with a deferment request form that explains the requirements for the
type of deferment you are requesting. You may also obtain deferment
request forms and information on deferment eligibility requirements from
the Direct Loan Servicing Center's web site at
[www.dl.ed.gov](http://www.dl.ed.gov/).

If you are in default on your loan, you are not eligible for a
deferment.

You are responsible for paying the interest on a Direct Unsubsidized
Consolidation Loan during a deferment period. You are not responsible
for paying the interest on a Direct Subsidized Consolidation Loan during
a deferment period.

###### Forbearance

We will give you a forbearance if: You are serving in a medical or
dental internship or residency program, and you meet specific
requirements;

-   You are serving in a national service position for which you receive
    a national service education award under the National and Community
    Service Act of 1990 (AmeriCorps);

-   You qualify for partial repayment of your loans under the Student
    Loan Repayment Program, as administered by the Department of
    Defense.

-   You are performing service that would qualify you for loan
    forgiveness under the teacher loan forgiveness program that is
    available to certain Direct Loan and FFEL program borrowers; or

```{=html}
<!-- -->
```
-   The total amount you owe each month for all of the student loans you
    received under Title IV of the Act is 20 percent or more of your
    total monthly gross income (for a maximum of three years).

In addition, we may give you a forbearance if you are temporarily unable
to make your scheduled loan payments for reasons including, but not
limited to, financial hardship or illness.

To request a forbearance, contact the Direct Loan Servicing Center. The
Direct Loan Servicing Center can provide you with a forbearance request
form that explains the requirements for the type of forbearance you are
requesting. You may also obtain forbearance request forms and
information on forbearance eligibility requirements from the Direct Loan
Servicing Center's web site at [www.dl.ed.gov](http://www.dl.ed.gov/).

Under certain circumstances, we may also give you a forbearance without
requiring you to submit a request or documentation. These circumstances
include, but are not limited to, the following:

-   Periods necessary for us to determine your eligibility for a loan
    discharge;

-   A period of up to 60 days in order for us to collect and process
    documentation related to your request for a deferment, forbearance,
    change in repayment plan, or consolidation loan (we do not
    capitalize interest charged during this period); or

-   Periods when you are involved in a military mobilization, or a local
    or national emergency.

You are responsible for paying the interest on your entire Direct
Consolidation Loan during a forbearance period.

**16. Discharge (having your loan forgiven).** We will discharge
(forgive) your Direct Consolidation Loan if:

-   The Direct Loan Servicing Center receives acceptable documentation
    of your death. We will also discharge the portion of a Direct
    Consolidation Loan that repaid one or more Direct PLUS Loans or
    Federal PLUS Loans obtained on behalf of a student who dies.

-   Your loan is discharged in bankruptcy. However, federal student
    loans are not automatically discharged if you file for bankruptcy.
    To have your loan discharged in bankruptcy, you must prove to the
    bankruptcy court, in an adversary proceeding, that repaying the loan
    would cause undue hardship.

-   We determine that you are totally and permanently disabled (as
    defined in the Act), based on a physician's certification, and you
    meet additional requirements during a 3-year conditional discharge
    period. During that period, your earnings from work must not exceed
    the poverty line amount for a family of two, and you must not
    receive any additional loans under the Direct Loan, FFEL, or Federal
    Perkins Loan programs. You may not receive a discharge due to total
    and permanent disability based on a condition that existed before
    you received any of the loans that you consolidated, unless a doctor
    certifies that the condition substantially deteriorated after the
    loan was made.

In certain cases, we may also discharge all or a portion of your Direct
Consolidation Loan if:

-   One or more Direct Loan Program, FFEL Program, or Federal Perkins
    Loan Program loans that you consolidated was used to pay for a
    program of study that you (or the dependent student for whom you
    borrowed a PLUS loan) were unable to complete because the school
    closed;

-   Your eligibility (or the eligibility of the dependent student for
    whom you borrowed a PLUS loan) for one or more of the Direct Loan
    Program or FFEL Program loans that you consolidated was falsely
    certified by the school;

-   Your eligibility for one or more of the Direct Loan Program or FFEL
    Program loans that you consolidated was falsely certified as a
    result of a crime of identity theft; or

-   The school did not pay a required refund of one or more Direct Loan
    Program or FFEL Program loans that you consolidated.

We may forgive a portion of your Direct Consolidation Loan that repaid
Direct Subsidized or Direct Unsubsidized Loans you received after
October 1, 1998, or subsidized or unsubsidized Federal Stafford Loans
you received under the FFEL program after October 1, 1998 if you teach
full time for five consecutive years in certain low-income elementary
and/or secondary schools and meet certain other qualifications, and if
you did not owe a Direct Loan or FFEL program loan as of October 1,
1998, or as of the date you obtain a loan after October 1, 1998.

A public service loan forgiveness program is available that provides for
the cancellation of the remaining balance due on your eligible Direct
Loan Program loans after you have made 120 payments (after October 1,
2007) on those loans under certain repayment plans while you are
employed in certain public service jobs.

To request a loan discharge based on one of the conditions described
above (except for discharges due to death or bankruptcy), you must
complete an application that you may obtain from the Direct Loan
Servicing Center or from the Direct Loan Servicing Center's web site at
[www.dl.ed.gov](http://www.dl.ed.gov/).

In some cases, you may assert, as a defense against collection of your
loan, that the school did something wrong or failed to do something that
it should have done. You can make such a defense against repayment only
if the school's act or omission directly relates to your loan or to the
educational services that the loan was intended to pay for, and if what
the school did or did not do would give rise to a legal cause of action
against the school under applicable state law. If you believe that you
have a defense against repayment of your loan, contact the Direct Loan
Servicing Center.

We do not guarantee the quality of the academic programs provided by
schools that participate in federal student financial aid programs. You
must repay your loan even if you do not complete your education, are
unable to obtain employment in your field of study, or are dissatisfied
with, or do not receive, the education you paid for with the loan.

**17. Department of Defense and other federal agency loan repayment.**
Under certain circumstances, military personnel may have educational
loans repaid by the Secretary of Defense. This benefit is offered as
part of a recruitment program that does not apply to individuals based
on their previous military service or to those who are not eligible for
enlistment in the U.S. Armed Forces. For more information, contact your
local military service recruitment office.

Other agencies of the federal government may also offer student loan
repayment programs as an incentive to recruit and retain employees.
Contact the agency's human resources department for more information.

***END OF BORROWER'S RIGHTS AND RESPONSIBILITIES STATEMENT***

##### IMPORTANT NOTICES

##### Gramm-Leach-Bliley Act Notice

In 1999, Congress enacted the Gramm-Leach-Bliley Act (Public Law
106-102). This Act requires that lenders provide certain information to
their customers regarding the collection and use of nonpublic personal
information.

We disclose nonpublic personal information to third parties only as
necessary to process and service your loan and as permitted by the
Privacy Act of 1974. See the Privacy Act Notice below. We do not sell or
otherwise make available any information about you to any third parties
for marketing purposes.

We protect the security and confidentiality of nonpublic personal
information by implementing the following policies and practices. All
physical access to the sites where nonpublic personal information is
maintained is controlled and monitored by security personnel. Our
computer systems offer a high degree of resistance to tampering and
circumvention. These systems limit data access to our staff and contract
staff on a "need-to-know" basis, and control individual users' ability
to access and alter records within the systems. All users of these
systems are given a unique user ID with personal identifiers. All
interactions by individual users with the systems are recorded.

##### Privacy Act Notice

The Privacy Act of 1974 (5 U.S.C. 552a) requires that the following
notice be provided to you:

The authority for collecting the requested information from and about
you is §451 [et seq.]{.underline} of the Higher Education Act (HEA) of
1965, as amended (20 U.S.C. 1087a [et seq.]{.underline}) and the
authorities for collecting and using your Social Security Number (SSN)
are §484(a)(4) of the HEA (20 U.S.C. 1091(a)(4)) and 31 U.S.C. 7701(b).
Participating in the William D. Ford Federal Direct Loan (Direct Loan)
Program and giving us your SSN are voluntary, but you must provide the
requested information, including your SSN, to participate.

The principal purposes for collecting the information on this form,
including your SSN, are to verify your identity, to determine your
eligibility to receive a loan or a benefit on a loan (such as a
deferment, forbearance, discharge, or forgiveness) under the Direct Loan
Program, to permit the servicing of your loan(s), and, if it becomes
necessary, to locate you and to collect and report on your loan(s) if
your loan(s) become delinquent or in default. We also use your SSN as an
account identifier and to permit you to access your account information
electronically.

The information in your file may be disclosed, on a case by case basis
or under a computer matching program, to third parties as authorized
under routine uses in the appropriate systems of records notices. The
routine uses of this information include, but are not limited to, its
disclosure to federal, state, or local agencies, to private parties such
as relatives, present and former employers, business and personal
associates, to consumer reporting agencies, to financial and educational
institutions, and to guaranty agencies in order to verify your identity,
to determine your eligibility to receive a loan or a benefit on a loan,
to permit the servicing or collection of your loan(s), to enforce the
terms of the loan(s), to investigate possible fraud and to verify
compliance with federal student financial aid program regulations, or to
locate you if you become delinquent in your loan payments or if you
default. To provide default rate calculations, disclosures may be made
to guaranty agencies, to financial and educational institutions, or to
state agencies. To provide financial aid history information,
disclosures may be made to educational institutions. To assist program
administrators with tracking refunds and cancellations, disclosures may
be made to guaranty agencies, to financial and educational institutions,
or to federal or state agencies. To provide a standardized method for
educational institutions to efficiently submit student enrollment
status, disclosures may be made to guaranty agencies or to financial and
educational institutions. To counsel you in repayment efforts,
disclosures may be made to guaranty agencies, to financial and
educational institutions, or to federal, state, or local agencies.

In the event of litigation, we may send records to the Department of
Justice, a court, adjudicative body, counsel, party, or witness if the
disclosure is relevant and necessary to the litigation. If this
information, either alone or with other information, indicates a
potential violation of law, we may send it to the appropriate authority
for action. We may send information to members of Congress if you ask
them to help you with federal student aid questions. In circumstances
involving employment complaints, grievances, or disciplinary actions, we
may disclose relevant records to adjudicate or investigate the issues.
If provided for by a collective bargaining agreement, we may disclose
records to a labor organization recognized under 5 U.S.C. Chapter 71.
Disclosures may be made to our contractors for the purpose of performing
any programmatic function that requires disclosure of records. Before
making any such disclosure, we will require the contractor to maintain
Privacy Act safeguards. Disclosures may also be made to qualified
researchers under Privacy Act safeguards.

**Financial Privacy Act Notice**

Under the Right to Financial Privacy Act of 1978 (12 U.S.C. 3401-3421),
ED will have access to financial records in your student loan file
maintained in compliance with the administration of the Direct Loan
Program.

##### Paperwork Reduction Notice

According to the Paperwork Reduction Act of 1995, no persons are
required to respond to a collection of information unless it displays a
currently valid OMB control number. The valid OMB control number for
this information collection is 1845-0053. The time required to complete
this information collection is estimated to average 1.0 hour (60
minutes) per response, including the time to review instructions, search
existing data resources, gather and maintain the data needed, and
complete and review the information collection. **If you have any
comments concerning the accuracy of the time estimate(s) or suggestions
for improving this form, please write to:** U.S. Department of
Education, Washington, DC 20202-4700.

**If you have any questions regarding the status of your individual
submission of this form, write directly to:**

**U.S. Department of Education**

**Consolidation Department**

######## P.O. Box 242800

**Louisville, KY 40224-2800**