BROWN UNIVERSITY

                                                     I;                                                        .
                                      Box 1839, Providence, Rhode Island 02912

                                        INSTALLMENT PAYMENT PLAN

The Installment Payment Plan (IPP) is a retail installment contract which allows families of our undergraduates to
finance the estimated total net annual charges (total annual charges less anticipated loans and scholarships) in 12
monthly payments.

Any parent or guardian of an active Brown undergraduateis eligible for this plan. Exception: StudyAbroad Students
-parents of students who are enrolled in non-Brown-spoRsored study abroad programs are not eligible to partici-
pate in the IPP program during the semester(s)the students are studying away.
Parents with prior year outstanding student account balances are not eligible to participate.

Application Fee
A non-refundable $36.00 fee is charged for eachapplication. This fee must be paid with a separatecheck and remitted
with the IPP application. The application will not be processed until the fee is paid.

Application Deadline
Parents/guardiansare urged to apply by May 18 for the annual program, or by November 1 for the semesterII program.
Applications for the annual program will not be accepted after August 1. Semester requestswill not be accepted after
January 1.

Amount to Fmance
This amount may not exceed the estimated total net annual charges (total estimated annual charges less anticipated
loans and scholarships). Anticipated loans or scholarships may not be financed.

Automatic Debit
Your monthly installment payment may be made through an automatic debit to your checking account (ACH). See
Authorization Agreement for Pre-authorized Payments(ACH Debits).

Balloon Payment
A balloon payment is any amount you wish to pay directly to the student's university account to reduce the amount
financed through the Installment Payment Plan. (Do not include anticipated loans and scholarships as a balloon
payment.) Balloon payments must be paid in full by August I, or in equal parts August 1 and January 1.

Finance Charge
The finance charge is pre-calculated and based on an annual percentage rate of 7.50% amortization on the amount
financed, commencing on August 1. Finance charges for SemesterI accrue from August 1 to November 1 and accrue
from January 1 to May 1 for Semesterll.

Late Payment Charges
A late charge of$10.00 is charged on any monthly payment in default for a period of 10 days or more.

Schedule of Payments
The first of 12 monthly payments will be due on June 1 and subsequentpayments will be due on the fIrst day of each
month thereafter until the entire unpaid finance charge and principal of the IPP contract are paid.

IPP Disbursement
A credit to the student's university account will be made when Brown receives the signed payment plan application,
application fee, and the installment payment currently due. Brown will disburse one half of the installment plan as an
anticipated credit each semester. Scheduled disbursement dates are August 1 and January 1. Actual principal paid
will be applied to the student account at the end of the program.

Retalllnstallment Contract
The parent/guardian will be required to complete and sign the attached payment plan application providing for the
educational services involved. The fIrst two payments -June 1 and July 1, will apply to principal only. Finance
charges are assessed   beginning August 1. The next four payments -August 1 through November 1, will apply first
to finance charges and then to principal. The December 1 payment will apply to principal only. The next five
payments -January 1 through May 1, will apply first to finance chargesand then to principal until allIPP obligations
evidenced by the contract have beenrepaid. Late fees will be assessed prior to the application of finance charges or
principal for any late payment.

Increases/Decreasesin Amount Financed
Changes (rebudgetsof amount financed) in the payment plan, resulting from the selection of different options by the
student or otherwise will be handled as follows:

         Changes -no more than one (1) change per semesteris permitted.

         Increases -additional charges on the student's university account not covered by the payment plan are
         payable upon demand.
         Decreases -credit balances up to $200 on the student's university account may be refunded in cashto the
         parent or the student; credit balances in excess of $200 on the student's university account will require a
         reduction (rebudget) of the amount financed.

Additional payments over the basic schedule may be made at any time without penalty for prepayment.

Participants will be billed for the amount due on a monthly basis. The statement of account includes a payment
remittance form to ensure proper credit of the payment submitted.

If any payment is overdue by 15 days or more, Brown shall have the right to cancel the entire payment plan. Any
payment due on the student's account as a result of this action is immediately due and payable. The acceptanceof
partial payments shall not be considered a waiver of any such default. If necessary to cancel the plan, only the
principal installment payments received to date are transferred to the student's account.

2007-2008 Annual Expenses                 Student                           Student
                                          Resident                          Commuter

Tuition                                   $35,584                           $35,584
Room & Board                              $ 9,606
Off Campus Fee                                                              $ 590
Student Activity Fee (mandatory           $    146                          $ 146
Health Service Fee (mandatory             $    612                          $ 612
                                                                                              ".fcc'!"   "j"',
Estimated Total                           $45,948                           $36,932

(!'lote: Estimated                                             fee
                  totalsdo not includemandatoryhealthinsurance of$2,512. Annualwaiver required).
*The healthservice providescare at HealthServices                     yearand is not the same healthinsurance.
                                                     during theacademic                      as

Examples of Monthly Payment

AMOUNT        TOTAL         MONTffl.,Y          TOTAL
RNANCED      RNANCE         PAYMENT            AMOUNT                Note: To determine a monthly payment amount
             CHARGE             **               PAID                for an amount financed that is not shown, please
$ 1,000      $ 8.32         $ 84.03           $ 1,008.32             accessthe Installment Payment Plan calculator
$ 5,000      $ 41.66        $ 420.14          $ 5,041.66             on the Bursar's Office web site (
$10,000      $ 83.35        $ 840.28          $10,083.35             Administration/Financial_Services/Bursar) or
$15,000      $125.01        $1,260.42         $15,125.01             call the Bursar's Office at (401) 863-2484 for
$20,000      $166.67        $1,680.56         $20,166.67             assistance.
$25,000       $20832        $2,100.69         $25,20832
$30,000       $250.02       $2,520.84         $30,250.02
$35,000       $291.68       $2,940.97         $35,291.68
$36,932       $307.78       $3,10332          $37,239.78
$40,000       $33333        $3,361.11         $40,33333
$45,948       $382.89       $3,SOO.91         $46,330.89

Authorization Agreement for Pre-authorized Payments (ACH Debits)

I (we) hereby authorize Brown University to initiate debit entries to my checking account (financial institution
indicated below) on the first of every month in accordancewith my Installment PaymentPlan. This authorization is to
remain in full force and effect until Brown University has received written permission from me (us) of its termination
in such time and manner as to afford Brown University and the Financial Institution a reasonable opportunity to act
on it. (Please attach a voided check.)

Account Holder Signature                                                           Date

Financial Institution Name                                                Branch

City                                             State                                 Zip

Routing Number                                             Acct. No. (checking)

 Brown University must receive thisform at least 20 daysprior to thefirst debit entry in order to allow enough time
for processing. Confirmation offirst debit entry date and amount will be sent once IPP is approved.

                                     Campus Box 1839,Providence,RI 02912
Pleaseaccept                                                                                                 please
            this as my applicationfor participationin the 2007-2008Brown IPPprogram. To avoidprocessingdelays,
complete questions.  (Please print.)

1. Student                                                          ill
                                                            2. Banner or BRU ill

3. (2007-2008) Freshman                        -Junior      -Senior      -4.               SSN

5. Name of Parent/Guardian                                                            6. SSN

7. Address

8. City                                                          9. State                    10. Zip Code

11. Resident #                          12.Bus.Tel. #                       13. EmailAddress                                          I

14.2007-2008 Student                   (see
                       AccountCharges Annual Expenses)
              (includehealth insurancefee, ifapplicable,of$2,512)
  (Completingthis applicationdoesnot constitute                        fee.)
                                               waiver of healthinsurance
15.Less:      Student                FederalDirect Stafford,Brown Loans)
                       Loans (Perkins,                                                 -
              Parent Loans(FederalDirect Plus,RI Family Loan)                          -
              OutsideScholarships                                                      -
              Brown Scholarships                                                       -
16. Payment: Balloon paymentto studentaccount                                          -

17. AMOUNT TO BE FINANCED                                                                                                             !
18. IPP APPLICATION FEE (Separate                                                                           $36.00

                                                 Terms and Conditions
I agreeto enroll in the Brown University InstallmentPayment  plan by completing,signing,and returningthis applicationand
contractwith the non-refundable  applicationfee of $36.00,and any installmentpaymentdue. Brown University will applyone
half (1/2)of the amount         to
                        financed thestudent's account               as
                                                      eachsemester ananticipated credit. Creditfor actualprincipalpaid will
be appliedto the studentaccountat the end of the program.

           that                                                                    is                         that
I understand all paymentsaredue onthe first day of eachmonthandthe first installment dueJune1. I alsounderstand
any payment                                           to
            received10 days afterthe due dateis subject a $10.00late fee.                                                             i
Brown University shall have the right to terminatemy participationin the plan and declarethe entire unpaid balanceon the              i
studentaccount   payableimmediatelyif I fail to pay any installmentwithin fifteen (15)days of the duedate. I understand if   that
I default,I forfeit my right to participatein this plan ata future date. In the eventthat any payment overdue,   Brown University     ;
will not issue to or recommendon behalf of any studenta diploma, certificate, transcript,letter of honorabledischarge,or
recommendation.I understand the interestrate is 7.5% and I maychange payment       the          plan at anytime during the contract
period,but no morethan one (1)changeper semester permittt:d.                                                                          !

I agreeto the terms and conditions of this plan (signature)                                              Date                         1

Please complete and return this application and contract (tear off and retain IPP program information). If you                        :
wish your payment made by automatic debit, pleasecomplete authorization on reverse side of this application.                           r
Office Use:                                                                                                                            I
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