disclosure statement

Topics: Default, Bond, Personal finance Pages: 8 (1573 words) Published: December 4, 2013
Disclosure Statement
William D. Ford Federal Direct Loan Program

U.S. Department of Education
P.O. Box 9003
Niagara Falls, NY14302-9003

Direct Subsidized Loan
Direct Unsubsidized Loan
Borrower Information
1. Name and Address
Vargas, Ariel
2855 Sw 10th Street
Fort Lauderdale, FL 33312

2.Date of Disclosure Statement
09/10/2013
3.Area Code/Telephone Number
(954) 907-4013

School Information
4. School Name and Address
Broward College
225 East Las Olas Boulevard
Fort Lauderdale, FL 333012298

5. School Code/Branch
G01500

Loan Information
6. Loan Identification Number(s)
XXXXX1433S14G01500001

7. Loan Period(s)
08/26/2013 – 05/05/2014

8. Loan Fee %
1.051%

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

Subsidized
Loan

Gross Loan Amount
$3,500.00




Loan Fee Amount
$36.00

+
+

Interest Rebate Amount
$0.00

Your school plans to disburse the Net Loan Amount as follows: Date
Net Disbursement Amount
Date
09/17/2013
$ 866.00
10/08/2013
$ 866.00
01/28/2014
$ 866.00
02/18/2014
$ 866.00

Direct
Unsubsidized
Loan

Gross Loan Amount
$0.00




Loan Fee Amount
$0.00

+
+

Interest Rebate Amount
$0.00

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

=
=

Net Loan Amount
$3,464.00

Net Disbursement Amount

=
=

Net Loan Amount
$0.00

Net Disbursement Amount

If there are further disbursements to be made on the loan(s) the school will inform you.

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

Before any money is disbursed, you must have a signed Direct Subsidized Loan/Direct Unsubsidized Loan Master Promissory Note (MPN) on file. The MPN, the Borrower's Rights and Responsibilities statement, and the Plain Language Disclosure explain the terms of your loan(s). If you have any questions about your MPN or this Disclosure Statement, contact your school.

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





Gross Loan Amount - This is the total amount of the loan that you are borrowing. You will be responsible for repaying this amount.
Loan Fee Amount - This is the amount of the fee that we charge on your loan. It is based on a percentage of your Gross Loan Amount. The percentage is shown in item 8. The Loan Fee Amount will be subtracted from your Gross Loan Amount.

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

To keep an up-front interest rebate that you receive on your loan, you must make all of your first 12 required monthly payments on time (we must receive each payment no later than 6 days after the due date) when your loan enters repayment. You will lose the rebate if you do not make all of your first 12 required monthly payments on time. This will increase the amount that you must repay.



Net Loan Amount - This is the amount of your loan money that remains after the Loan Fee Amount is subtracted and the Interest Rebate Amount is added. The school will disburse the Net Loan...
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