Please read the following terms and conditions carefully before submitting your application. By submitting this application you acknowledge that you have read, understand and accept the terms and conditions set forth below.

You are requesting a privately-funded refinance loan that must be repaid in full. The proceeds of this loan must be used to refinance or consolidate loans that were used solely for permitted educational purposes of loans obtained through a Title IV degree granting institution.

When your application is received, the Lender is not agreeing to lend you money and there will not be such an agreement until the time that the loan is actually disbursed to your existing lender(s). The Lender has the right to accept or reject your application for credit.

By submitting this application, you certify that the information on this application is true and correct to the best of your knowledge. In addition, by submitting this application, you authorize the Loan Processor to verify the accuracy and authenticity of all information supplied by you, both internally and with the assistance of non-affiliated third parties. Specifically, you authorize the Loan Processor to contact your existing lender(s), your school(s), employer(s), and other organizations to determine eligibility and payoff amounts for the loans you have selected for refinancing and/or consolidation, and to confirm your educational record, your graduation and employment status. You also authorize your existing lender(s) to provide payoff and other information about the loans you have selected for refinancing and/or consolidation to the Loan Processor and the Lender. The Loan Processor may also verify any income information that you provide. You also authorize the Loan Processor to release the information in this request and your credit eligibility information to the Lender to assist you with the loan application. In all cases, the Loan Processor may disclose the fact that you are applying for credit from the Lender.

Bank of Lake Mills will be the initial lender of record for your student loan. The borrower will receive notification if the loan is sold.

In order to process your loan application, you authorize the Lender and Lender’s agents (including the Loan Processor) to obtain a consumer credit report in connection with your loan application and in connection with any updates, renewals or extensions of any credit as a result of this loan application. If you ask, you will be informed whether or not such a report was obtained and, if so, the name and address of the agency that furnished the report. You also understand and agree that Lender or Lender’s agents may obtain a consumer credit report in connection with the review or collection of any loan made to you as a result of your loan application or for other legitimate purposes related to such loan. Your authorization to obtain consumer reports from consumer reporting agencies is valid as long as any amounts are owed on your loan.

If the loan payoff amount(s) paid to your existing lender(s) is more than the amount(s) needed to pay off the balances of the loans you have selected for refinancing and/or consolidation, you authorize your existing lender(s) to refund the excess to the Loan Processor or Lender to be applied towards your loan from the Lender. If the amount(s) paid to your existing lender(s) is less than the amount(s) needed to pay off the balances of the loans selected for refinancing and/or consolidation, you are responsible to pay the remaining balances directly to your existing lender(s).

State-Specific Disclosures

CALIFORNIA RESIDENTS: A married applicant may apply for a separate account.

OHIO RESIDENTS: The Ohio laws against discrimination require that all creditors make credit equally available to all creditworthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.

WISCONSIN RESIDENTS: For married Wisconsin residents, my signature on this Credit Agreement confirms that this loan obligation is being incurred in the interest of my marriage or family. No provision of any marital property agreement (pre-marital agreement), unilateral statement under Section 766.59 or court decree under Section 766.70 adversely affects the interest of the Lender unless the Lender, prior to the time that the loan is approved, is furnished with a copy of the agreement, statement, or decree or has actual knowledge of the adverse provision when the obligation to the Lender is incurred.

Military Lending Act Disclosures:

If you are a member of the active military, or a spouse or dependent of a member of the active military, and your loan is subject to the provisions of the Military Lending Act (“MLA”), the following apply. (The federal government requires us to provide this notice to you. However, we do not assess any of the fees referenced in this notice):

Federal law provides important protections to members of the Armed Forces and their dependents relating to extensions of consumer credit. In general, the cost of consumer credit to a member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36 percent. This rate must include, as applicable to the credit transaction or account: the costs associated with credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; any application fee charged (other than certain application fees for specified credit transactions or accounts); and any participation fee charged (other than certain participation fees for a credit card account). Payments are a function of the amount you borrow and the applicable interest rate. Please refer to your Approval Disclosure for information regarding your monthly payments for this loan.

To hear this statement of your rights under the MLA, and for a description of your payment obligation, please call 855-210-8182.

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