8/4/2019 Xpress Loan Serivicing _ Forbearance

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Private Consolidation Loan Program Forbearance Request

FORBEARANCE TYPESYou must check one of the following to be considered for the forbearance. Please review the reverse side of this form for an explanation of eachforbearance type.

FORBEARANCE OPTIONS: _____ Internship/Residency _____ Extension Due to Military _____ In-School

AUTHORIZED OFFICIALS CERTIFICATIONI certify that the borrower is eligible for the forbearance selected above and meets all of the requirements on the reverse side of this form for theperiod:

(MM/DD/YY) _____/_____/_____ to _____/_____/_____PLEASE PRINT ALL OF THE FOLLOWING EXCEPT FOR THE SIGNATURE:

_____________________________________________________________ ____________________________________Name of Authorized Official Title

_____________________________________________________________ (___ ___ ___) ___ ___ ___ - ___ ___ ___ ___School or Organization Phone Number

School Status: Full Time _______ Half-Time ________ Less Than Half-Time _______ Other (please specify) - _______________

Anticipated Graduation Date: _____/_____/_____ Major/Degree Program __________________________________________

_____________________________________________________________ ___________________________________Officials Signature Date

For more information, you may speakwith a Loan Counselor

(888) 811-7101

BORROWER INFORMATION

Social Security Number: ___ ___ ___ - ___ ___ - ___ ___ ___ ___

Name: ________________________________________________________

Address: ______________________________________________________

City, State, Zip: _________________________________________________

Home Telephone: (___ ___ ___) ___ ___ ___ - ___ ___ ___ ___

Other Telephone: (___ ___ ___) ___ ___ ___ - ___ ___ ___ ___

Email Address: __________________________________________________

Return Completed Form To:

Xpress Loan ServicingP.O. Box 94553

Cleveland, OH 44101-4553

Fax: (888) 811-7103

During the time you are on the forbearance, any outstanding interest will be added to and become part of the principal of the loan at the end of the forbearance period.Payments will resume within forty-five (45) days of the forbearance end date as determined by Xpress Loan Servicing on behalf of the lender. The exact amountof the monthly payments will be calculated at the end of the forbearance. The calculation of the payment amount will be in accordance with all applicable lawsgoverning private student loans.

For an account that is delinquent, the forbearance can be used retroactively to cover the period of delinquency; however, any negative reports that were submitted tothe credit bureaus on behalf of the lender will not be removed.

I understand that should my situation under which I applied for this forbearance change, I must notify Xpress Loan Servicing. I wish to have the forbearance appliedto my Private Consolidation Loan. I understand the forbearance I have requested will not be granted for more than 12 months at any one time. I also understand thatthis is a loan that I must repay. The above information is true and correct to the best of my knowledge.

______________________________________________________ _____________________________Borrowers or Cosigners Signature Date

In order to be considered for forbearance, you must:1. Sign and date the form.2. Supply a valid end date.3. Attach the necessary documentation or have the AUTHORIZED OFFICIALS CERTIFICATION completed.

FOR OFFICE USE ONLYDate Reviewed: _____/_____/_____ PH# _____________ Dates: _____/_____/_____ to _____/_____/_____ ___ Approved ___ Denied

8/4/2019 Xpress Loan Serivicing _ Forbearance

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Private Consolidation Loan Program Forbearance Request

Internship/Residency: This type of forbearance is granted to borrowers who require deferment time due to Internship/Residency. In order to beconsidered for this forbearance type, attach documentation verifying your internship/residency position and the dates you are registered with theprogram or have the AUTHORIZED OFFICIALS CERTIFICATION completed. An Internship/Residency Forbearance is limited to a maximum of 48months during the loan term.

Extension Due to Military Mobilization: This type of forbearance is granted to borrowers who have been called to active duty as described underthe Military Mobilization forbearance. In order to be considered for this forbearance type, attach documentation that demonstrates your continuedactive duty status (i.e. a copy of military orders) or have the AUTHORIZED OFFICIALS CERTIFICATION completed with a statement that confirmsyour call to active duty status was due to a specific military mobilization, including the location of the military mobilization. A Military forbearance is limiteda maximum of 36 months during the loan term.

In-School: This type of forbearance is granted to borrowers who have enrolled in school at least half-time in another degree or certificate program in aaccredited school as defined by the Department of Education. In order to be considered for this type of forbearance, you must attach the enrollmentverification or have the AUTHORIZED OFFICIALS CERTIFICATION completed. You may be asked to provide documentation showing continued progretoward a degree or certificate program. An In-School forbearance is limited to a maximum of 36 months during the loan term.

Cosigner Information:

If there is a joint applicant(s) on the loan(s) for which you are requesting forbearance, the joint applicant(s) must also apply and be eligible for thesame or different forbearance type during the same period of time in order to be eligible.

Explanation of Capitalization of Interest:

Capitalization of Interest is the addition of outstanding accrued interest to the current principal balance of a loan.

The interest during a forbearance period will automatically be capitalized by Xpress Loan Servicing at the end of forbearance. However, you willreceive a notice at the end of each quarter (March 31, June 30, September 30, and December 31) advising you of the amount of interest which

has accrued on your loan(s). The major advantage of capitalizing interest is the flexibility it provides because no payment is required, but youmay still pay the interest if your financial situation allows for this. It is recommended that you make the interest payments during the course ofyour forbearance because the interest which is capitalized will result in a higher principal balance and additional finance charges over the courseof repayment. In addition, the capitalization may cause your monthly payment amount to increase.

CIT Bank is the originating lender of the Private Consolidation Loan. Xpress Loan Servicing and logo are service marks of Education Loan Servicing Corporation. CIT is aregistered service mark of CIT Group Inc. 2006 Xpress Loan Servicing. All Rights Reserved.

PCF-001 1/200

Principal 6.0% 7.0% 8.0% 9.0% 10.0% 11.0%

$10,000.00$15,000.00

$20,000.00$25,000.00$30,000.00$35,000.00$40,000.00$45,000.00$50,000.00$55,000.00$60,000.00$65,000.00$70,000.00$75,000.00

$50.00$75.00

$100.00$125.00$150.00$175.00$200.00$225.00$250.00$275.00$300.00$325.00$350.00$375.00

$58.30$87.50

$116.70$145.80$175.00$204.20$233.30$262.50$291.70$320.80$350.00$379.20$408.30$437.50

$66.70$100.00

$133.30$166.70$200.00$233.30$266.70$300.00$333.30$366.70$400.00$433.30$466.70$500.00

$75.00$112.50

$150.00$187.50$225.00$262.50$300.00$337.50$375.00$412.50$450.00$487.20$525.00$562.50

$83.30$125.00

$166.70$208.30$250.00$291.70$333.30$375.00$416.70$458.30$500.00$541.70$583.30$625.00

$91.70$137.50

$183.30$229.20$275.00$320.80$366.70$412.50$458.30$504.20$550.00$595.80$641.70$687.50

The purpose of this chart is to help you estimate theamount of interest that would accrue on your loanevery month so that you can estimate how muchwould be added to your loans principal if the interestis capitalized.

For example, if you owe $10,000.00 in principal at aninterest rate of 6.0%, then approximately $50.00 ininterest would accrue on your loan every month. Ifcapitalization occurs on a quarterly basis (every threemonths), then approximately $150.00 would be addedto your $10,000.00 principal balance. As a result, atthe end of one quarter, you would owe and interestwould accrue on $10,150.00 in principal.

Or, if you owe $40,000.00 in principal at an interestrate of 11.0%, then approximately $366.70 in interestwould accrue on your loan every month. Ifcapitalization occurs on a quarterly basis (every threemonths), then approximately $1,100.10 would beadded to your $40,000.00 principal balance. As aresult, at the end of one quarter, you would owe andinterest would accrue on $41,100.10 of principal.