If you do not agree to these terms, you must stop now! Contact your school if you have any questions regarding the terms of this promissory note.

FEDERAL PERKINS LOAN PROGRAM STATEMENT OF RIGHTS AND RESPONSIBILITIES In order to complete your exit interview, you must read and acknowledge the information below.
	The school is the holder of my Promissory Note and I must, without exception, contact the school (or its billing service). If I withdraw from school. If I change my name. If my telephone number changes. If I transfer to another school. If my address changes. If I drop below half-time status. If my Social Security Number changes. If my expected graduation date changes. If my driver's license number changes. An Exit Interview is required when I graduate, withdraw, or drop below half-time status from the school. I must arrange for an interview by calling the school. Failure to comply can result in an administrative hold being placed on my diploma, transcripts, and registration status. My first payment will be due ten (10) months from the time I cease to be at least a half-time student. My minimum payment will be $40.00 per month, unless the amount I borrowed exceeds $3,750. The maximum length of time for repayment of all loans is ten (10) years. The interest rate will be 5% per annum on the unpaid principal balance. Interest will begin to accrue nine (9) months after I cease to be enrolled as at least a half-time student with my first payment due the following month. I may be eligible to receive a partial loan cancellation for certain types of services performed (refer to Promissory Note). I am required to inform the school (or its billing service) of such status in writing in a timely manner. I may request that payments on my loan(s) be deferred based on provisions stated in my Promissory Note. I must inform the school (or its billing service) of such status in writing in a timely manner. If I cannot pay on time, I must contact the school's student loan office (or its billing service) to make arrangements. I will be charged late fees or penalty charges for each month I fail to make an installment when due or to comply with other terms of my promissory note or written repayment agreement. If I fail to repay my loan as agreed, the total balance may become due and payable immediately. If my loan goes into default, I will no longer be eligible to receive further financial aid. My loan could be sent to an outside collection agency and legal action could be taken against me. I will be responsible for all costs of collections as stipulated in my Promissory Note. (Default is when you fail to make an installment when due or to comply with other terms of your promissory note or written repayment agreement.) A defaulted loan may be assigned to the U.S. Government for collection. If you default you may lose your benefits for deferment and cancellation. I will promptly answer any communication from the school regarding my loan. I may prepay the entire balance, or any portion thereof, at any time without penalty. I authorize any employer to release to the school any information concerning employment, wages, application information or my current address. I realize that aggregate loan limits are $20,000.00 for an undergraduate and $40,000.00 for a graduate or professional student and the maximum I may borrow in any given year is $4,000.00 for an undergraduate and $6,000.00 for a graduate or professional student. The amount is at the discretion of the financial aid director. I authorize the school to contact any school which I may attend to obtain information concerning my student status, year of study, dates of attendance, graduation or withdrawal, my transfer to another school, or my current address. This authorization is in effect until my loan is paid in full. I understand that default on any loan(s) will be reported to national credit bureaus. I understand that I may consolidate my Federal Loans. If during your repayment you develop student loan problems that can't be resolved through the lender or guarantee agency, you may want to contact the US Department of Education Office of Student Financial Assistance Programs Ombudsman Office. They will collect documentation and work to resolve the situation with you. Their website is http://www.ombudsman.ed.gov/ Office of the Ombudsman Student Financial Assistance U.S. Department of Education Rm. 3012, ROB #3 7th and D streets, SW Washington, DC 20202-5144 Phone: 1-877-557-2575

I accept the terms outlined in the Rights and Responsibilities presented above.