# Loan Disclosures

#### Keystone Student Loan Program

##### Annual Percentage Rate (APR) Calculations

The lowest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Immediate Repayment Plan and a repayment term of 60 months, monthly payments of $188.85 and a final payment $180.50, a fixed periodic interest rate of 5.28%, and total payments of $11,322.64. The borrower in this sample qualified for a 0.25% Direct Debit benefit for the entirety of the repayment period and a 0.50% Graduation benefit was applied 47 months into repayment.

The highest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Interest Only Repayment Plan and a repayment term of 180 months, monthly payments of $93.58 for 52 months and monthly payments of $115.11 for the remainder of the repayment term, a fixed periodic interest rate of 11.23%, and total payments of $25,585.79. The borrower in this sample did not qualify for any interest rate discounts.

This APR is an estimate and may differ from the actual rates received. More information about interest rates, including APRs, is available for each loan program.

#### Undergraduate

##### Annual Percentage Rate (APR) Calculations

The lowest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Immediate Repayment Plan and a repayment term of 60 months, monthly payments of $188.85 and a final payment $180.50, a fixed periodic interest rate of 5.28%, and total payments of $11,322.64. The borrower in this sample qualified for a 0.25% Direct Debit benefit for the entirety of the repayment period and a 0.50% Graduation benefit was applied 47 months into repayment.

The highest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Interest Only Repayment Plan and a repayment term of 180 months, monthly payments of $93.58 for 52 months and monthly payments of $115.11 for the remainder of the repayment term, a fixed periodic interest rate of 11.23%, and total payments of $25,585.79. The borrower in this sample did not qualify for any interest rate discounts.

Loans taken for a less than half-time academic period may borrow up to $5,000.

These APRs are estimates and may differ from the actual rates received.

##### Partial Interest Payment

After the in-school and grace periods, any unpaid interest will be repaid along with principal. For example, a borrower of a $10,000.00 loan will pay $25.00 per month for 52 months (46 months in school and 6 months in grace). Following that time period, if that borrower selected a 10-year repayment plan and received a periodic interest rate of 8.48%, the borrower would have an APR of 7.66%, monthly payments of $148.38 for 120 months, and a total amount repaid of $19,105.51. The borrower in this sample qualified for a 0.25% Direct Debit benefit for the entirety of the repayment period and a 0.50% Graduation benefit applied at the end of the 52-month partial interest period.

Examples of rates and repayment terms

#### Graduate

##### Annual Percentage Rate (APR) Calculations

The lowest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Immediate Repayment Plan and a repayment term of 60 months, monthly payments of $188.85 and a final payment $180.50, a fixed periodic interest rate of 5.28%, and total payments of $11,322.64. The borrower in this sample qualified for a 0.25% Direct Debit benefit for the entirety of the repayment period and a 0.50% Graduation benefit was applied 47 months into repayment.

The highest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Interest Only Repayment Plan and a repayment term of 180 months, monthly payments of $93.58 for 52 months and monthly payments of $115.11 for the remainder of the repayment term, a fixed periodic interest rate of 11.23%, and total payments of $25,585.79. The borrower in this sample did not qualify for any interest rate discounts.

These APRs are estimates and may differ from the actual rates received.

##### Partial Interest Payment

After the in-school and grace periods, any unpaid interest will be repaid along with principal. For example, a borrower of a $10,000.00 loan will pay $25.00 per month for 52 months (46 months in school and 6 months in grace). Following that time period, if that borrower selected a 10-year repayment plan and received a periodic interest rate of 8.48%, the borrower would have an APR of 7.66%, monthly payments of $148.38 for 120 months, and a total amount repaid of $19,105.51. The borrower in this sample qualified for a 0.25% Direct Debit benefit for the entirety of the repayment period and a 0.50% Graduation benefit applied at the end of the 52-month partial interest period.

Examples of rates and repayment terms

#### Parent

##### Annual Percentage Rate (APR) Calculations

The lowest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Immediate Repayment Plan, monthly payments of $188.85 for a period of 60 months, a fixed periodic interest rate of 5.28% and total payments of $11,330.99. The borrower in this sample qualified for a 0.25% Direct Debit benefit for the entirety of the repayment period. This APR is an estimate and may differ from the actual rate received.

The highest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Interest Only Repayment Plan and a repayment term of 180 months, monthly payments of $93.58 for 46 months and monthly payments of $115.11 for the remainder of the repayment term, a fixed periodic interest rate of 11.23% and total payments of $25,024.29. The borrower in this sample did not qualify for any interest rate discounts.

These APRs are estimates and may differ from the actual rate received.

Examples of rates and repayment terms

#### Parent Comparison

##### Annual Percentage Rate (APR) Calculations

The lowest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Immediate Repayment Plan, monthly payments of $188.85 for a period of 60 months, a fixed periodic interest rate of 5.28% and total payments of $11,330.99. The borrower in this sample qualified for a 0.25% Direct Debit benefit for the entirety of the repayment period. This APR is an estimate and may differ from the actual rate received.

The highest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Interest Only Repayment Plan and a repayment term of 180 months, monthly payments of $93.58 for 46 months and monthly payments of $115.11 for the remainder of the repayment term, a fixed periodic interest rate of 11.23% and total payments of $25,024.29. The borrower in this sample did not qualify for any interest rate discounts.

These APRs are estimates and may differ from the actual rate received.

##### 5-Year Term

The lowest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Immediate Repayment Plan and a repayment term of 60 months, monthly payments of $188.85 a fixed periodic interest rate of 5.28%, and a total amount financed of $11,330.99. The borrower in this sample qualified for a 0.25% Direct Debit benefit for the entirety of the repayment period.

The highest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Interest Only Repayment Plan and a repayment term of 60 months, monthly payments of $89.42 for 46 months and monthly payments of $216.08 for the remainder of the repayment term, a fixed periodic interest rate of 10.73% and a total amount financed of $17,077.98. The borrower in this sample did not qualify for any interest rate discounts.

These APRs are estimates and may differ from the actual rates received.

##### 10-Year Term

The lowest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Immediate Repayment Plan, monthly payments of $112.18 for a period of 120 months, a fixed periodic interest rate of 6.48% and a total amount financed of $13,461.48. The borrower in this sample qualified for a 0.25% Direct Debit benefit for the entirety of the repayment period.

The highest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Interest Only Repayment Plan and a repayment term of 120 months, monthly payments of $91.50 for 46 months and monthly payments of $137.64 for the remainder of the repayment term, a fixed periodic interest rate of 10.98% and a total amount financed of $20,725.42. The borrower in this sample did not qualify for any interest rate discounts.

These APRs are estimates and may differ from the actual rates received.

##### 15-Year Term

The lowest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Immediate Repayment Plan, monthly payments of $88.38 for a period of 180 months, a fixed periodic interest rate of 6.98% and a total amount financed of $15,908.42. The borrower in this sample qualified for a 0.25% Direct Debit benefit for the entirety of the repayment period.

The highest APR is based on the following assumptions: A loan of $10,000 made in a single disbursement, a borrower who selected an Interest Only Repayment Plan and a repayment term of 180 months, monthly payments of $93.58 for 46 months and monthly payments of $115.11 for the remainder of the repayment term, a fixed periodic interest rate of 11.23% and a total amount financed of $25,024.29. The borrower in this sample did not qualify for any interest rate discounts.

These APRs are estimates and may differ from the actual rates received.