1 This repayment example assumes a variable interest rate for the Fondo Futuro Continuing Education Loan equal to the LIBOR Index plus a margin of 3.75%. The interest rate used in this example and in effect as of 04/01/2008 is 6.87%. The interest rate margin ranges, depending on the credit-worthiness of the borrower and co-signer, if any, from 3.75% to 8.00% (APRs range from 7.37% to 12.52%). The LIBOR Index equals the one-month LIBOR published in the “Money Rates” section of the Wall Street Journal on the first business day of the preceding calendar month. LIBOR means the London Interbank Offered Rate. The interest rate and APR will increase during the life of the loan if the LIBOR Index increases. The loan terms described are for the 2007-2008 academic year and are subject to change.

2 This repayment example assumes an origination fee of 4.5% of the total loan amount (the requested loan amount plus the origination fee). The origination fee ranges from 4.5% to 10.5%, depending on the credit-worthiness of the borrower and co-signer, if any. The origination fee, if any, will be added to and financed with the requested loan amount at disbursement.

3 Principal at repayment is the principal amount of the loan at disbursement (the requested loan amount plus the origination fee) plus interest that accrues and is capitalized (added to principal) during the deferment term (assumed to be 18 months in these examples). Deferred interest is capitalized quarterly and at the time your loan enters repayment.

4 Repayment of principal and interest for borrowers in degree or certificate programs begins the earlier of (i) six months after graduation; (ii) six months after ceasing enrollment; or (iii) 2 years after the first loan disbursement. For borrowers in non-degree/certificate programs, repayment begins the earlier of (i) six months after ceasing enrollment or (ii) six months after the end of the current academic period. The monthly payment amount shown here will increase if the LIBOR Index increases, and will be computed based on the interest rate applicable at the time repayment begins. Monthly payments of principal and interest will be fixed for the first year and then recalculated once each year based on the interest rate applicable at the time of the calculation and reset on the anniversary of your most recent repayment start date so as to pay the loan in full over the remaining repayment period. Minimum monthly payments will be at least $25.

5 Annual Percentage Rate (APR) is a measure of what a loan will cost. It takes into account the rate, fees, length of the loan, and the timing of all payments. The APR will increase if the LIBOR Index increases.

6 Finance charge is the dollar amount the credit will cost and includes interest paid over the life of the loan, plus the origination fee, if any.


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