Private Education Loan Approval Disclosure
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BORROWER: CREDITOR:
Jose L Roman CEFCU
5515 North Rosalie Drive PO Box 1715
Peoria, IL 61614 Peoria, IL 61656
Loan Rates & Estimated Total Costs
Total Loan Amount Interest Rate Finance Charge Total of Payments
$18,000.00 9.25 % $14,201.25 $32,201.25
The total amount you are Your current interest rate. The estimated dollar amount The estimated amount you
borrowing. the credit will cost you. will have paid when you
have made all payments.
ITEMIZATION OF AMOUNT ABOUT YOUR INTEREST RATE
FINANCED - Your rate is Variable. This means that your actual rate varies with the market and
could be lower or higher than the rate on this form. The variable rate is based upon the
Amount paid to you $0.00 Prime Rate (as published in the Wall Street Journal). For more information on this rate,
Amount paid to others + $18,000.00 see the reference notes.
on your Behalf: - Although your rate will vary, it will never exceed 29% (the maximum
Bradley University allowable for this loan).
Amount Financed = $18,000.00 - Your Annual Percentage Rate (APR) is 9.20 % .The APR is typically
(total amount provided) different than the Interest Rate since it considers fees and reflects
the cost of your loan as a yearly rate. For more information about the
Initial finance charges + $0
APR, see reference notes.
(total)
- Origination Fee FEES
Application Fee: None
Origination Fee: $0.00
Total Loan Amount = $18,000.00
Late Charge: If the full monthly payment is ten(10) days or more
late you will pay a late charge of $10 or 5% of the
payment amount, whichever is greater.
Returned Check Charge: $30
Estimated Repayment Schedule & Terms
MONTHLY PAYMENTS
at 9.25 % at 29% The estimated Total of
12 YEAR LOAN TERM
the current interest rate the maximum interest rate Payments at the Maximum
of your loan possible for your loan Rate of Interest would be
$80,600.82
Sep 10, 2024 to Jun 30, 2025 No Payment Required No Payment Required
($1,341.12 in interest will ($4,204.60 in interest will
deferment period
accrue during this time) accrue during this time)
Jul 1, 2025 to Jul 14, 2037
$223.63 $559.80
143 monthly payments
Jul 15, 2037
$222.16 $549.42
1 monthly payment
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Federal Loan Alternatives
Loans first Loans first
Disbursed on or Disbursed on or
Loan Type
after 7/1/23 and after 7/1/24 and
You may qualify for Federal education loans.
before 7/1/24. before 7/1/25.
Direct Subsidized Loans For additional information, contact your school's
Fixed at 5.50% Fixed at 6.53%
(Undergraduate Students) financial aid office or the Department of Education at:
Direct Unsubsidized Loans
(Undergraduate Students) Fixed at 5.50% Fixed at 6.53%
https://studentaid.gov/
Direct Unsubsidized Loans
Fixed at 7.05% Fixed at 8.08% Note: All interest rates shown in the chart are fixed rates for the life of the loan.
(Graduate or Professional Students)
Direct PLUS Loans (Parents and The interest rates for federal student loans are determined by federal law. If
Fixed at 8.05% Fixed at 9.08%
Graduate or Professional Students) there are future changes to federal law that affect federal student loan interest
rates, changes will be published at:
https://studentaid.gov/understand-aid/types/loans
Next Steps & Terms of Acceptance
This offer is good until: 1. Find Out About Other Loan Options.
Contact your school's financial aid office for more information.
Nov 2, 2024
2. You Have Until Nov 2, 2024
to Accept this Offer.
The terms of this offer will not change except as permitted by law and the
variable interest may change based on the market.
To Accept the Terms of this loan, visit our website at
https://cefcu.onelogos.net/portal/
REFERENCE NOTES
Variable Interest Rate: Security:
Your loan has a variable interest rate that is based on a publicly available index, You are giving a security interest in your shares and dividends and deposits
the Wall Street Journal Prime Rate which is currently 8.50 % and interest in CEFCU; collateral securing other loans with CEFCU may also
Your rate will be calculated each quarter by adding a margin between 0.75% and secure this loan.
8.00% to the Wall Street Journal Prime Rate.
Repayment Options:
The Interest Rate may be higher or lower than your Annual Percentage Rate (APR) Although no payments are required on your loan while you are in school, you
because the APR considers certain fees you pay to obtain this loan, the Interest can still make payments while you are in school. More information about
Rate, and whether you defer (postpone) payments while in school. repayment deferral or forbearance options is available in your Promissory
The rate will not increase more than once each quarter, but there is no limit on the Note.
amount that the rate could increase at one time. Your rate will never exceed
29.00%. Prepayments:
If you pay the loan off early, you will not have to pay a penalty. You will not
If the Interest Rate increases, your monthly payments may be higher. be entitled to a refund of part of the finance charge.
Bankruptcy Limitations: See your Promissory Note for any additional information about
If you file for bankruptcy, you may still be required to pay back this loan. nonpayment, default, any required repayment in full before the scheduled
date, and prepayment refunds and penalties.
Deferred Repayment:
Make no payments while enrolled in school. Interest will be charged and added to
your loan.
