Free Promissory Note Template Scripps College School Information by hqh17862

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									Scripps College
School Information

STUDENT POPULATION
Undergraduate Students
Number of Undergraduate students                              888
Percentage of students borrowing                               42
Average indebtedness upon graduation                 $    11,235
Average 2007-2008 Cost of Attendance                 $    48,450
Graduation Rate                                              85%
Mean Salary of 2006 Graduates                        $    32,500

Default Rate
Cohort Default Rate for 2006-2007                             0%
Cohort Default Rate for 2005-2006                             2%
Cohort Default Rate for 2004-2005                             0%

LOAN INFORMATION
Undergraduate Stafford Loan Volume
  a. 2006-2007 year                                  $ 1,004,062
  b. 2005-2006 year                                  $ 1,052,684
  c. 2004-2005 year                                  $ 1,122,889
PLUS Loan Volume
  a. 2006-2007 year                                  $ 1,992,263
  b. 2005-2006 year                                  $ 1,742,235
  c. 2004-2005 year                                  $ 1,755,209

TOTAL FFELP VOLUME
  a. 2006-2007 year                                  $ 2,996,325
  b. 2005-2006 year                                  $ 2,794,919
  c. 2004-2005 year                                  $ 2,878,098

Undergraduate Private Loan Volume
  a. 2006-2007 year                                  $ 344,008
  b. 2005-2006 year                                  $ 414,181
  c. 2004-2005 year                                  $ 551,203

Schools Information System (e.g., Banner)           PowerFAIDS
Loan Processing Product                             ELM Net
Preferred Disbursement Method                       EFT

Note: Scripps College will work with lenders that use any loan processing product or disbursement method.
Scripps College                                                                                    Page 2
Private Loan RFI

Scripps College
Private Loan RFI Response


Company Name:

Instructions:
1. Please complete your company's response to this Request for Information (RFI) using
only this Response Sheet. Please complete the Response Sheet and save it in Excel 97-
Excel 2003 format prior to sending to Scripps College contacts listed in this RFI, in the
section titled INSTRUCTION TO RFI RESPONDENTS. Please name the file using your
company's name, RFI type and submission date in the file name (e.g.,
BankXYZ_Private_030108).
2. Please do not alter this worksheet template by adding or deleting rows, changing column
widths or modifying the worksheet structure in any way. Provide any additional information
that your company would like to highlight in section L "Supplemental Information" section at
the bottom of the response template.
3. Please answer all questions in column C on the line corresponding to the question. If
your company has any need to supplement your answers in Column C, please provide the
explanation in column D.
4. For open-ended questions, please answer questions as succinctly as possible. Most
questions are structured as Yes/No questions. These questions have a drop-down menu
(YES/NO/N/A) which can be accessed by clicking on the upside down arrow on the right
side of column C. If your company cannot answer any question, indicate "N/A" in column C
and use Column D for a brief explanation, indicating at a minimum one of the following
which most closely explains the reason for the "N/A" response: "Not applicable" or "No
information available" or "Proprietary Information" or "Other" if it doesn't fit into any of the
first three categories.
5. Many of the questions will ask your company to provide multiple part answers (e.g.,
Financial Information/Access to Capital, Question 2). Every attempt was made to provide a
sufficient number of slots for these answers. If you find that there is not an adequate
number, then include additional information in the "Other (specify)" row as well as section M
"Supplemental Information".


Definitions
1. Affiliates: as defined by the Department of Education, for purposes of a preferred
lender list is limited to affiliates that are under common ownership and control. The
Secretary also wishes to clarify that the Department does not interpret the lender affiliation
provision to include entities that are involved in post-disbursement activities, which a school
has no ability to monitor or control.
2. Co-maker, co-borrower and co-signer are terms used interchangeably.
3. Deferment: Refers to the period of time when a student is not required to make
payments on his/her existing student loans due to enrollment at least 1/2 time at an
educational institution. For private loans, typically refers to in-school deferments and
military deferments that may be offered by lenders. During this period, interest continues to
accrue on the outstanding loan principal.
4. Direct to consumer (DTC): Loans marketed directly to students that do not require
school certification and where loan funds are disbursed directly to the students making the
entire process independent of the financial aid office.
Scripps College                                                                               Page 3
Private Loan RFI

5. Forbearance: Refers to situations of financial hardship experienced by borrowers in
which interest accrues on outstanding loan principal but reduced, interest-only, or no
payments are due for a temporary period of time.
6. Jump Page: Scripps College Jump Page is a webpage, for Scripps College borrowers
only, that is presented to the borrower once the borrower selects the lender from a school
webpage link. The Scripps College Jump Page would have a link to the loan application,
and the Scripps College Jump Page should contain no advertisements such as credit cards.

7. Private loans: For purposes of this RFI, the term includes only those loans intended to
cover the cost of education. This excludes "bar study loans", "residency loans" and private
consolidation loans.

Contact Information
1. Lender Name:
2. Lender Street Address:
3. Lender Street Address 2:
4. Lender City:
5. Lender State:
6. Lender Zip Code:
7. Lender Code(s):
8. Primary contact name:
9. Primary contact title:
10. Primary contact phone:
11. Primary contact fax:
12. Primary contact email address:
13. Secondary contact name:
14. Secondary contact title:
15. Secondary contact phone:
16. Secondary contact fax:
17. Secondary contact email address:
18. Website URL for general information on Private student loans offered by your
    company:
19. Website URL for on-line application:
20. Customer Service number for new borrowers:
21. Customer Service number for borrowers in repayment:

A. Lender's Private Loan Experience/Loan Volumes
1. Please indicate the private loan product name(s) your company will offer to Scripps
   College borrowers in 2008-09 for each Student Category.
   a. Private Loans for Undergraduates
2. Please indicate the volume of private loans your company originated in total for the
   last three years.
   a. 2005
   b. 2006
   c. 2007
3. Please indicate the volume of private loans your company originated FOR SCRIPPS
   COLLEGE borrowers ONLY for the last three years.

   a. 2005
   b. 2006
   c. 2007
Scripps College                                                                                Page 4
Private Loan RFI

4. Please specify how many years your company has been making private student
   loans.
   a. Less than 5 years
   b. 5 years < 10 years
   c. 10 years or more

B. Access to Capital/Financial Condition
1. Has your company sold any Private Loans (excluding consolidation
   loans) in the last three years?
   a. If yes, what percentage of Private student loans (not including consolidation
      loans) has your company sold in each of last three years?
      1) 2005
      2) 2006
      3) 2007

2. If your company has sold loans in 2007, indicate the purchasers of those loans (with
  share of purchases).
   a. Loan purchaser 1
   b. Loan purchaser 2
   c. Loan purchaser 3
   d. Other Loan purchasers (specify)
3. Does your company currently have any forward purchase commitment agreements
   in place for Private Loan volume?
   a. If yes, with whom?
        1) Agreement #1
        2) Agreement #2
        3) Agreement #3
        4) Other Agreements (specify)
   b. Term of agreement
        1) Agreement #1
        2) Agreement #2
        3) Agreement #3
        4) Other Agreements (specify)
4. Please explain briefly your company's ability to continue to make Private Loans in
   this challenging credit environment.
5. Is your company able to internally fund your student loan activities?
   a. If not, what are the external sources of funds for the Private student loans that
       your company makes?
        1) Securitization
        2) Debt Issuance - specify short or long term
        3) Auction rate securities
        4) Other credit facility
        5) Other Sources (specify)
6. Assuming a level of private loan activity comparable to 2007, for how long is your
   company currently funded?
7. Does your company have any existing lines of credit or other backup lending
   facilities to support Private Loan activity?
    a. If yes, please describe including total capacity of line and current utilization.
8. Please provide Private Loan default figures as requested below.

   a. Please provide the National default rate for private loans (all tiers) for each of the
      following years
Scripps College                                                                              Page 5
Private Loan RFI

       1) 2004-05
       2) 2005-06
       3) 2006-07
   b. Please provide the Scripps College private loan default rate (all tiers) for each of
      the following years
       1) 2004-05
       2) 2005-06
       3) 2006-07

9. Please provide the current credit ratings on your company from each of major rating
   agencies.
   a. Moody's
   b. Standard and Poors
   c. Fitch

C. Compliance and Legal

1. Please describe your company's privacy of information policy on the sale or sharing
   of borrower information to third parties.
   a. Does your company sell borrower information to any third parties?
        1) Is there any other arrangement whereby borrower information is
            furnished, for profit making purposes, to any third parties?
   b. Does your company release any borrower information to any other
        divisions of your company?
        1) Would affiliates be considered other divisions of your company?
2. Please describe your policies to safeguard borrower information.
3. Which state's codes of Conduct does your company adhere to?
   a. State #1
   b. State #2
   c. State #3
   d. State #4
   e. Other States
4. If your company is selected as a finalist for Scripps College's Private Loan lender
   list, would your company be willing to provide any details regarding any settlement
   agreements that your company has entered into with any states or any other
   regulatory body?
5. Please describe any internal code of conduct that your company currently follows
   for your student loan division.
6. Does your company have any affiliate relationships with other student lenders
   (see definition of Affiliate in Definitions Section)? If no, skip question 8 in this
   section.
   a. If yes, what lenders is your company affiliated with?
        1) Affiliate 1
        2) Affiliate 2
        3) Affiliate 3
        4) Affiliate 4
        5) Affiliate 5
        6) Other affiliates (specify)
7. Which of your company's affiliates will be responding to this RFI?
        1) Affiliate 1
        2) Affiliate 2
        3) Affiliate 3
Scripps College                                                                            Page 6
Private Loan RFI

      4) Affiliate 4
      5) Affiliate 5
      6) Other affiliates (specify)

D. Direct-to-Consumer Marketing
1. Is your company involved in direct-to-consumer education loan marketing?
   a. If yes, does your company market to students?
   b. Market to parents?
2. Do ALL of your company's direct-to-consumer marketing materials (e.g. collateral,
   website information, etc.) for private student loans make clear and obvious to
   borrowers that, if eligible, federal loans should be their first choice of loans?
3. Does your company market education loans that do not require school certification
   of the student's enrollment?
   a. If yes, is there a required step in the processing/disbursement of that direct-to-
       consumer private education loan whereby the school is notified that the student
       received the loan and the amount of the loan?
   b. Does the answer in 3a. pertain to
       1) Student Loans?
       2) Parent Loans?
4. Please indicate the volume of private loans your company generated through the
   DTC Channel in total for the last three years.
   a. 2005
   b. 2006
   c. 2007
5. Please indicate the volume of private loans your company generated through the
   DTC Channel FOR SCRIPPS COLLEGE borrowers ONLY for the last three years.
   a. 2005
   b. 2006
   c. 2007
6. Are loan fee discounts and borrower benefits available to borrowers through the
   School Channel better than those available to borrowers through the DTC channel?
    a. If yes,
       1) Please provide a specific example of how fee discounts and benefits might
           vary.
       2) Does your company offer those same school channel private student loan fee
           discounts and benefits available to Scripps College borrowers who apply
           through the DTC channel?

   b. If no,
      1) Would your company agree to honor the loan fee discounts and benefits for
          all Scripps College borrowers, including those Scripps College borrowers not
          applying directly through the school channel, if selected as a Scripps College
          private loan lender?


        a) Would your company agree to refrain from using the DTC channel to solicit
           Scripps College students or their parents, if selected as a Scripps College
           preferred private loan lender?


7. What percentage of your current private loan volume is obtained through the DTC
   channel?
Scripps College                                                                             Page 7
Private Loan RFI

   a. 2005
   b. 2006
   c. 2007

E. Degree of Vertical Integration

1. Please indicate what activities your company directly manages for your Private Loan
   division. Mark all that apply
   a. Origination
   b. Guarantor
   c. Loan Servicing
   d. Securitization
   e. Debt management/Collections
   f. Customer service (call center operations)
   g. Other activities (specify)

2. For all activities, not managed in-house, please indicate the subcontractor partner(s)
   utilized for each. Indicate partner alongside their contracting activity.
   a. Origination
   b. Guarantor
   c. Loan Servicing
   d. Securitization
   e. Debt management/Collections
   f. Customer service (call center operations)
   g. Other activities (specify)

F. Loan Application/Borrower Communications
1. Can the borrower apply for the loan online?
   a. Is the loan application a completely separate form/step from completing the
       promissory note (e.g. does the borrower complete and submit the application,
       receive loan approval and is then asked to sign the promissory note)?
2. What information is provided to the borrower about the loan terms, interest rate, loan
   fees, etc., without the borrower having to furnish any personally identifiable
   information?

   a. Borrower benefits
   b. Interest rate or index with spread
   c. Loan fees
   d. Other (specify)
3. What information is provided to the borrower about the loan terms, interest rate, loan
   fees, etc., for which the borrower would qualify without having to accept the loan?

   a. Borrower benefits
   b. Interest rate or index with spread
   c. Loan fees
   d. Other (specify)
4. Will your company notify borrower that borrower should maximize federal loan
   opportunity before seeking private loans?
   a. If yes, how will this be communicated? Mark all that apply.
      1) Website
      2) Brochures / Postcards / Collateral
      3) Letter sent to borrower
Scripps College                                                                               Page 8
Private Loan RFI

      4) MPN
      5) Email
      6) Call center
      7) Other (specify)
   b. If yes, when will this be communicated? Mark all that apply.
      1) Application process
      2) Signing of promissary note
      3) Upon inquiry
      4) Other (specify)
5. Will your company notify borrower that lower rate and higher approval rate is
   available with co-borrower?
   a. If yes, how will this be communicated? Mark all that apply.
      1) Website
      2) Brochures / Postcards / Collateral
      3) Letter sent to borrower
      4) MPN
      5) Email
      6) Call center
      7) Financial aid office
      8) Other (specify)
   b. If yes, when will this be communicated? Mark all that apply.
      1) Application process
      2) Signing of promissary note
      3) Upon inquiry
      4) Other (specify)
6. Does your company handle all follow-up with borrowers directly to resolve incomplete
   applications and/or promissory notes?

   a. If yes, by what method does your company initiate follow-up to resolve
      application and/or Promissory Note issues?
      1) Phone
      2) Fax
      3) Mail
      4) Email
      5) Other (specify)
  b. How quickly is the initial follow-up action taken?
  c. How many attempts, including the initial follow-up action, are taken to follow-up
      with borrowers?
7. Under what circumstances or situations might your company need Scripps College
   staff to be involved with providing information to resolve a loan application problem or
   question? Please describe briefly.

  a. Incomplete certification
  b. Enrollment information
  c. Borrower's mail was returned and/or phone number no longer valid
  d. Verification of graduation date
  e. Validation of loan periods and/or amounts
   f. Other (specify)
8. Does your company have a two step loan approval process, including pre-
     approval and final approval processes?
   a. If yes, what is the average amount of time required for the borrower to receive
      loan pre-approval, assuming no follow-up action is needed?
Scripps College                                                                              Page 9
Private Loan RFI

       1) Immediately
       2) Within 1 business day
       3) Within 2 business days
       4) 2+ business days
   b. If yes, what is the average amount of time required for the borrower to receive
       final loan approval, assuming no follow-up action is needed?
       1) Immediately
       2) Within 1 business day
       3) Within 2 business days
       4) 2+ business days
9. If your company has only a one step loan approval process, what is the average
   amount of time required for the borrower to receive loan approval, assuming no
    follow-up action is needed?
       1) Immediately
       2) Within 1 business day
       3) Within 2 business days
       4) 2+ business days
10. Is the borrower informed of the loan terms (e.g. interest rate, fees) for which he/she
   qualifies upon loan approval?

   a. If not immediate, what is the time required to receive information on loan terms?
   b. What is the method by which your company communicates this information?
      Mark all that apply.
      1) Phone
      2) Fax
      3) Mail
      4) Email
      5) Other (specify)
11. Does your company allow international students without Social Security numbers
    to apply without a co-signer for a private loan?
   a. If yes, is there a special loan application process?
   b. Can your company utilize the school assigned student ID number in all
      communications with the school about that student (e.g. loan certification,
      fund disbursement)?
   c. If yes, can they apply online?
12. Does your company allow international students without Social Security numbers
    to apply with a co-signer for a private loan?
   a. If yes, is there a special loan application process?
   b. Can your company utilize the school assigned student ID number in all
      communications with the school about that student (e.g. loan certification,
      fund disbursement)?
   c. If yes, can they apply online?

G. Technology

a. Web Self-Service
1. What information is available on your website for borrowers (indicate YES
   for all that apply)?
   a. Comprehensive information about private loan borrower benefits
   b. Requirements for maintaining eligibility for those benefits
   c. Aggregate loan amounts borrowed (including borrower amounts requested) that
       reflect total loan cost, monthly repayment amounts, etc.
Scripps College                                                                        Page 10
Private Loan RFI

   d. Check loan processing status
   e. Check loan account information once in repayment
   f. Forms available for download including deferment, forbearance, etc.
   g. Online screens designed to meet ADA requirements
   h. Frequently asked questions (FAQ) section
   i. Prominently displayed 800 number for borrowers to call
   j. Corporate blog on student loans
   k. Access to general 1098-E information
   l. Access to borrower specific 1098-E information
   m. Monitor status of loan benefits
   n. View all outstanding loans with your company on one screen
   o. Annual loan limits

2. What activities or services can borrowers complete/view on your company's website
   (indicate YES for all that apply)?
   a. Change repayment plan
   b. Submit completed deferment or forbearance request
   c. Make online student loan payments
   d. E-signature
   e. Apply for loan
   f. Update borrower contact information online
   g. Online chat service for borrowers to resolve issues
   h. On-line entrance and exit counseling
   i. Repayment calculators/other debt management tools
   j. Financial literacy tools (please specify)
       1) Literacy Tool #1
       2) Literacy Tool #2
       3) Literacy Tool #3
       4) Literacy Tool #4
       5) Literacy Tool #5
   k. Scholarship search
       1) Scholarship site #1
       2) Scholarship site #2
       3) Scholarship site #3
       4) Scholarship site #4
       5) Scholarship site #5

3. Does your company send 1098-E data whether or not the borrower has triggered the
   minimum reportable limits?
   a. Does your company provide supplemental 1098-E information to educate
       borrowers about the availability of the student loan interest deduction?
4. Does your company accept and respond to borrower email inquiries?
   a. What is the average response time for 2007 YTD?
   b. Is that communication done via a secure website?
5. Can your company provide "jump" pages from a third party hosted website that
   provide information on private loans that is on a separate screen from the FFEL
   screen?
6. Can campuses customize the information that is available from your company's
   "jump" page?
7. Is the borrower-specific information updated in real-time on your website?
   a. Loan application
   b. Loan disbursement
Scripps College                                                                            Page 11
Private Loan RFI

   c. Loan account information
   d. Other (specify)
8. What other value-added on-line services does your company provide today?
   a. On-line service #1
   b. On-line service #2
   c. On-line service #3
   d. On-line service #4
   e. Other online services (specify)

b. E-Signature
1. Is e-signature available for all Promissory Notes in Private Loan program?
2. What percentage of Private borrowers e-sign their Promissory Notes?
   a. National
   b. Scripps College borrowers
3. If your company utilizes a PIN for authentication, how quickly does your company
   reset and notify the borrower of the new PIN?
   a. Immediately
   b. Within 1 hour
   c. Within 1 business day
   d. 1+ business days

c. Loan Processing
1. Can your company interface with ELM?

2. Will your company commit to managing the entire application process with borrower,
   including follow-up and problem resolution, until loan is certified by school?

   a. If not, in what situations would your company require assistance from the school?
      1) Situation #1
      2) Situation #2
      3) Situation #3
      4) Other Situation (specify)
3. Does your company provide real-time loan completion or rejection information on
   ELM for new borrower applications?
   a. If not, how frequently is this information updated?
4. How will school be notified of the need to certify a loan if not via ELM?
   a. Fax
   b. Other (specify)

5. Will your company agree to create a new certification request for a previously denied
   PLUS loan rather than updating the previously denied record?

d. Disbursement
1. From a student's perspective, what is the best platform for disbursing funds to the
   student (e.g., paper checks, Sallie Mae Consolidated EFT, ELM NDN, etc.)?
2. Why is this platform beneficial to the students?
3. Does your company provide disbursements on a daily basis?
   a. If not, how frequently can disbursements be made?
4. Can your company send its disbursements via EFT to ELM?

e. Loan Adjustments
1. Is your company making real-time loan adjustments and postings to ELM?
Scripps College                                                                               Page 12
Private Loan RFI

   a. If not, indicate how often these adjustments and postings are made?
      1) Hourly
      2) Between 1 and 6 hours
      3) Between 6 and 12 hours
      4) Between 12 and 24 hours
      5) Over 24 hours
2. Does your company check a current borrower's student enrollment status at least
   monthly?
3. Will your company accept loan changes made via the phone?
4. Can your company meet a 24 hour processing time standard to accept loan
   changes made via the phone?

H. Borrower Benefits and Eligibility
1. Important: Will your company be able to commit to Private Loan loan fee
   discounts and borrower benefits that you describe in your proposal for the
   2008-09 school year?
   a. If not, describe what situation would require you to change your benefits?
      1) How much advance notice would school receive of such a change?

2. In future years, assuming no substantive changes in the legislative and/or regulatory
   environment, would these commitments be able to be made in mid-January for the
   Fall term?
   a. If not, what is the earliest expected date?
3. For 2008-09, what are/will be the borrower benefits available for Scripps College
   borrowers for your company's Undergraduate Private Loan programs?
   (Complete worksheet titled Borrower Benefits_Undergraduate)

4. If borrower received multiple loans with differing repayment (i.e. "back-end") benefits,
   a. Do all loans receive the most generous of the repayment benefits available
       among the borrower's loans from your company?
   b. Do all loans have the most recent borrower benefits?
   c. Does each loan have its own borrower benefits?

      1) If yes, how is borrower notified in subsequent years the borrower benefits that
         they are eligible for.
   d. Other (specify)

5. Will your company commit to not changing loan fee discounts and borrower benefits
   for Scripps College borrowers after the loan has been approved by your company?
   a. If not, please indicate when your company will commit to the loan fee discounts
       and borrower benefits.
6. Are there any other considerations to keep in mind regarding borrower benefits?
7. Are the borrower loan fee discounts and/or borrower benefits that you
   propose to provide to Scripps College borrowers more attractive than those offered
   in your standard Private Loan products?
8. Is borrower notified when borrower benefits are lost?
   a. If yes, indicate how borrowers are notified.
9. Will your company notify borrower that borrower benefits are available including
   a. Eligibility requirements?
   b. Ways of losing benefits?
   c. Whether lost benefits can be regained?
   d. How lost benefits can be regained?
Scripps College                                                                              Page 13
Private Loan RFI

10. How will this information be communicated to borrowers? Mark all that apply.
   a. Website
   b. Brochures / Postcards / Collateral
   c. Letter sent to borrower
   d. MPN
   e. Email
   f. Call Center
   g. Financial aid office
   h. Disclosure statements
   i. Other (specify)
11. When will this information be communicated to borrowers? Mark all that apply.
   a. At disbursement
   b. Application process
   c. At repayment
   d. Signing of promissory note
   e. Quarterly statements
   f. Upon inquiry
   g. During school
   h. During grace period
   i. During repayment
   j. Other (specify)

12. If selected as Scripps College preferred lender, will you agree to document in writing
   what benefits they are entitled to?
   a. If yes, at what point will your company notify the borrower/parent? Mark all that
        apply.
        1) At loan approval
        2) At guarantee
        3) At disbursement
        4) Upon earning the benefit
        5) Only upon borrower request
        6) Other (specify)
13. Prior to borrower entering repayment, does your company remind the borrower of
    the benefits that are available to them?

14. Does any of your company's borrower benefits (e.g., interest rate reduction) reduce
   the borrower's monthly payment?
   a. If yes, please describe which benefits reduce the borrower's monthly payment
      1) Borrower Benefit 1
      2) Borrower Benefit 2
      3) Borrower Benefit 3

Note: All Customer Service related questions should be answered specific to service
      provided for Private Loans.

I. Customer Service To Financial Aid
1. Will your company provide dedicated customer service representatives (CSRs) for
   Scripps College staff for the following:
   a. Initial inquiries about the loans available for Scripps College borrowers (and any
      special terms that might be available)
   b. Inquiries about loan application and processing status for specific borrowers
   c. Repayment matters for specific borrowers
Scripps College                                                                            Page 14
Private Loan RFI

   d. Loan consolidation issues of a general nature and for specific borrowers
   e. Other services (specify)
2. How is your company's CSR workload measured for the school channel? (e.g.,
   what is the average number of schools that each CSR is responsible for in your
   company's School Channel?)
3. Do the same customer service representatives for Scripps College staff handle:
   a. Initial inquiries about the loans available for Scripps College borrowers (and any
      special terms that might be available)?
   b. Inquiries about loan application and processing status for specific borrowers?
   c. Repayment matters for specific borrowers?
   d. Loan consolidation issues of a general nature and for specific borrowers?
4. Can you provide 24 hour response time for responding to the following inquiries:
   a. Inquiries about loan application and processing status for specific borrowers?
   b. Changes or corrections to certification request?
   c. Repayment matters for specific borrowers?

5. How many years of student loan experience does your company's customer service
   representatives (Private Loan only) typically have when they are hired?
6. What is average tenure of experience for your company's customer service
   representatives (Private Loan only)?

7. What are your company's customer service hours of operation (e.g., business days
   and hours, Pacific Time) for the Scripps College staff?
8. Please provide the name of the customer service representative who would be
   dedicated to Scripps College account.

J. Customer Service to Borrowers

a. Servicer
1. Does your company provide life of loan servicing on your loans?
   a. If not, indicate who services your company's loans and their share of your total
      loans originated
      1) Servicer #1 with share of loans
      2) Servicer #2 with share of loans
      3) Servicer #3 with share of loans
      4) Other Servicers (specify)
   b. Which servicer(s) would your company partner with to offer the best price or
      benefits for Scripps College borrowers?

2. At what juncture in the loan process does the loan servicer manage the loan process?
   a. At origination
   b. At disbursement
   c. At repayment
   d. Other (specify)
3. If servicer is used,
   a. How is borrower notified about the role of the servicer? Mark all that apply.
       1) Mailed communications
       2) Web Information
       3) Verbally
       4) Other (specify)
   b. When is borrower notified? Mark all that apply.
       1) During processing of application
Scripps College                                                                              Page 15
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      2)   At initial disbursement
      3)   After final disbursement
      4)   Upon entering repayment
      4)   Other (specify)

b. Organization
1. Does the same CSR handle repayment as well as new borrowers' inquiries?
2. Does the same CSR handle new borrower inquiries for FFEL as well as private
   loans?

c. Toll free numbers
1. Does your company's customer service center have a toll-free phone number for
   applicant and borrower use?
   a. What is toll-free number for applicants?
   b. What is toll-free number for borrowers?

2. What are your company's customer service hours of operation (e.g., business days
   and hours, Pacific Time) for the following:
   a. Applicants
   b. Borrowers

d. Voice Response Unit (VRU)
1. Can prospective borrowers bypass the VRU menu and opt to speak with a
   customer service representative?
   a. If yes, how many steps are necessary to reach a customer service
      representative?
      1) Step #1
      2) Step #2
      3) Step #3
      4) Step #4
      5) Other Steps (specify)

2. Can borrowers in repayment receive the same information available online via the
   VRU?
3. Can borrowers in repayment bypass the VRU menu and opt to speak with a
   customer service representative?
   a. If yes, how many steps are necessary to reach a customer service
       representative?
4. Is 1098-E (Student Loan Interest Statement) information accessible via the VRU?

e. CSR Experience and Training
1. Is the same CSR generally responsible for serving both prospective borrowers and
    borrowers in repayment?
If yes, please answer questions 1a and 1b as they pertain to CSRs serving both prospective
borrowers and borrowers in repayment. If no, please answer questions 1a through 1b as it
pertains to CSRs serving prospective borrowers and questions 2a and 2b as they pertain to
CSRs serving borrowers in repayment.
    a. How many years of student loan experience does your company's customer
       service representatives (private loans only) typically have when they are hired?
       1) Less than 1 year
       2) 1 year < 3 years
       3) 3 year < 5 years
Scripps College                                                                          Page 16
Private Loan RFI

      4) 5+ years
   b. What is the average tenure of experience for your company's customer service
      representatives (private loans only)?
      1) Less than 1 year
      2) 1 year < 3 years
      3) 3 year < 5 years
      4) 5+ years
2. Please skip questions 2a through 2b if your company answered YES to question 1
   above. Otherwise, please answer questions 2a and 2b as they pertain to CSRs
   serving borrowers in repayment.
   a. How many years of student loan experience does your company's customer
      service representatives (private loans only) typically have when they are hired?
      1) Less than 1 year
      2) 1 year < 3 years
      3) 3 year < 5 years
      4) 5+ years
   b. What is the average tenure of experience for your company's customer service
      representatives (private loans only)?
      1) Less than 1 year
      2) 1 year < 3 years
      3) 3 year < 5 years
      4) 5+ years
3. What is the current headcount for the CSR (Private Loan only) role?
   a. Focused on new loan origination
      1) Full-time, permanent employees
      2) Temporary FTEs
         a) For what period of time during the year are these temporary FTEs hired?
   b. Focused on repayment services
       1) Full-time, permanent employees
       2) Temporary FTEs
         a) For what period of time during the year are these temporary FTEs hired?
4. What metric do you utilize to ensure adequate CSR coverage for your
   borrowers (e.g., one CSR for every 5,000 borrowers)?


f. Customer Surveys
1. Does your company conduct new borrower surveys with regard to your customer
   service for Private Loans?
   a. How are the surveys conducted (e.g., phone, email, mail)?
   b. How often are such surveys conducted?
   c. When was the last survey conducted?
   d. For the last survey conducted, please answer the following questions:
      1) How many new borrowers were included in the survey?
      2) How many responded to the survey?
      3) What was the overall level of customer satisfaction?
   e. What were the key servicing issues surveyed?
      1) Service Area #1
      2) Service Area #2
      3) Service Area #3
      4) Service Area #4
      5) Service Area #5
Scripps College                                                                          Page 17
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   f. What were the two areas of service that new borrowers rated the highest (most
      satisfied)?
       1) Service Area #1
       2) Service Area #2
   g. What were the two areas of service that new borrowers rated the lowest (least
       satisfied)?
       1) Service Area #1
       2) Service Area #2
   h. What steps, if any, were taken in response to the areas that had the lowest
       ratings?
       1) Steps to address Service Area #1
       2) Steps to address Service Area #2
2. Does your company conduct surveys with borrowers in repayment with regard to
   your customer service for Private Loan?
   a. How are the surveys conducted (e.g., phone, email, mail)?
   b. How often are such surveys conducted?
   c. When was the last survey conducted?
   d. For the last survey conducted, please answer the following questions:
       1) How many borrowers in repayment were included in the survey?
       2) How many responded to the survey?
       3) What was the overall level of customer satisfaction?
   e. What were the key servicing areas surveyed?
       1) Service Area #1
       2) Service Area #2
       3) Service Area #3
       4) Service Area #4
       5) Service Area #5

   f. What were the two areas of service that borrowers in repayment rated the highest
      (most satisfied)?
       1) Service Area #1
       2) Service Area #2

   g. What were the two areas of service that borrowers in repayment rated the lowest
       (least satisfied)?
       1) Service Area #1
       2) Service Area #2
   h. What steps, if any, were taken in response to the areas that had the lowest
       ratings?
       1) Steps to address Service Area #1
       2) Steps to address Service Area #2
3. If new borrower and/or borrower in repayment surveys are not conducted, why not?

g. Call Center Operating Statistics
1. What is the average wait time for loan applicants/borrower calls?

2. What was the longest average wait time (for a given day) since June 1, 2007 through
   September 30, 2007?
3. What is the average wait time for school calls?

4. What was the longest average wait time (for a given day) since June 1, 2007 through
   September 30, 2007?
Scripps College                                                                           Page 18
Private Loan RFI

5. What is the average call abandonment rate for calls from borrowers over
   this same period?

6. What is the average call abandonment rate for calls from school representatives over
   this same period?
7. What is the performance standard for processing loan applications?
   a. 24 hours
   b. 48 hours
   c. 72 hours
   d. Other (please specify)
8. What percentage of loan applications met this performance standard from June 1,
   2007 through September 30, 2007?
9. What is the performance standard for resolving loan application problems?
   a. 24 hours
   b. 48 hours
   c. 72 hours
   d. Other (please specify)

10. What percentage of loan application problems met this standard from June 1, 2007
    through September 30, 2007?

11. What is the performance standard for processing deferment requests submitted via
    a certified paper deferment form?
    a. 24 hours
    b. 48 hours
    c. 72 hours
    d. Other (please specify)
12. What percentage of deferment requests met this standard from June 1, 2007
    through September 30, 2007?

K. Default Aversion
1. Would your company expect Scripps College involvement in default prevention and
   mitigation activities (e.g. skip tracing)?

   a. If yes, please indicate which specific activities your company would seek Scripps
      College assistance
      1) Activity #1
      2) Activity #2
      3) Activity #3
      4) Other Activities (specify)
2. What are best practices in default prevention and debt management that your
   company has seen utilized by universities that your company lends to?
   a. Best Practice #1
   b. Best Practice #2
   c. Best Practice #3
   d. Best Practice #4
   e. Other Practices (specify)
3. Describe your company's default aversion innovations and initiatives.
   a. Innovation/Initiative #1
   b. Innovation/Initiative #2
   c. Innovation/Initiative #3
   d. Other Innovation/Initiatives (specify)
Scripps College                                                                     Page 19
Private Loan RFI


L. Loan Cost
1. Please complete Undergraduate_Terms spreadsheet for your undergraduate private
   loan programs for which your company is applying.

M. Supplemental Information
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Scripps College                                                                          Page 23
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Private Loan Borrower Benefits Response Form
Private Loan Program for Undergraduates


Please answer all the questions below as they apply to your Private Loan
program for Undergraduate students.


1. For 2008-09, what are/will be the borrower benefits available for
   your company's undergraduate private loan programs for Scripps College
   students?

   a. Does your company offer an interest rate reduction for Auto-Debit?
      (If yes, please answer questions 1-12 below)
      1) If yes, what is the rate reduction?
          a) Is benefit lost if borrower discontinues auto-debit at some point in the
             future?
             i. How is this lost benefit calculated?

        b) Does benefit require borrower to maintain record of on-time auto-debit
           payments?

      2) Can borrower receive this benefit at any time during the repayment period?

         a) If not, when does borrower have to sign up with Auto-Debit in order to
             earn benefit?
      3) Do 100% of borrowers receive this benefit?
         a) If not, what is Utilization Rate for this benefit?
            i. Nationally
           ii. Scripps College borrowers
         b) If utilization rate is not available, please indicate what your company
           has estimated the utilization rate for this benefit to be.

      4) Does the first non-sufficient fund (NSF) event result in the permanent loss
        of this benefit?
         a) If not the first, what is the number of NSF events that lead to
             permanent loss of this benefit?
      5) Is this borrower benefit provided automatically if borrower is eligible?

      6) Is this borrower benefit tied to the loan, no matter who the loan owner is or
         becomes?
      7) Does a deferment create a loss of this benefit?
      8) Does a forbearance create a loss of this benefit?
      9) Does loan consolidation create a loss of this benefit?
      10) Is benefit rehabilitation or reinstatement of lost benefits available?
          a) If yes, please indicate how benefit can be reinstated.
          b) Can the borrower regain the benefit more than once?
             i. If yes, how frequently can she regain it?

      11) Does choosing a repayment plan other than the standard repayment plan
          create a loss of this benefit?
      12) Are there any other conditions required to earn this benefit?
Scripps College                                                                          Page 24
Private Loan RFI

         a) If yes, please provide conditions below
              i. Condition #1
            ii. Condition #2
           iii. Condition #3

   b. Does your company provide an interest rate reduction for borrowers
      entering repayment? (If yes, please answer 1-13 below)
      1) If yes, what is the interest rate reduction?
      2) Does this benefit require at least one on-time payment?
      3) What conditions must be met in order to earn this benefit?
         a. Condition #1
         b. Condition #2
         c. Condition #3
      4) Do 100% of borrowers receive this benefit?
         a) If not, what is Utilization Rate for this benefit?
             i. Nationally
            ii. Scripps College borrowers
         b) If utilization rate is not available, please indicate what your company
            has estimated the utilization rate for this benefit to be.
      5) Once benefit is earned, can it be lost?
         a) If yes, how is the lost benefit calculated?
      6) Is this borrower benefit provided automatically if borrower is eligible?

      7) Is this borrower benefit tied to the loan, no matter who the loan owner is or
         becomes?
      8) Does a deferment create a loss of this benefit?
      9) Does a forbearance create a loss of this benefit?
      10) Does loan consolidation create a loss of this benefit?
      11) Is benefit rehabilitation or reinstatement of lost benefits available?
          a) If yes, please indicate how benefit can be reinstated.
          b) Can the borrower regain the benefit more than once?
             i. If yes, how frequently can she regain it?

      12) Does choosing a repayment plan other than the standard repayment plan
          create a loss of this benefit?
      13) Are there any other conditions required to earn this benefit?
          a) If yes, please provide conditions below
              i. Condition #1
            ii. Condition #2
           iii. Condition #3

   c. Does your company provide an interest rate reduction for borrowers
      based on consecutive on-time payments? (If yes, please answer 1-14
      below)
      1) What is the amount of the interest rate reduction(s)?
         a) Interest rate reduction #1
         b) Interest rate reduction #2
         c) Interest rate reduction #3

      2) What is the number of consecutive payments required in order to earn this
         benefit (if more than one benefit available then list below)?
         a) Consecutive payments #1
Scripps College                                                                          Page 25
Private Loan RFI

           b) Consecutive payments #2
           c) Consecutive payments #3
           d) Other
      3)   What is meant by consecutive?
      4)   When is a payment considered late and therefore making borrower
           ineligible for benefit?
      5)   Do 100% of borrowers receive this benefit?
           a) If not, what is Utilization Rate for this benefit?
               i. Nationally
              ii. Scripps College borrowers
           b) If utilization rate is not available, please indicate what your company
              has estimated the utilization rate for this benefit to be.
      6)   Once benefit is earned, can it be lost?
           a) If yes, how is the lost benefit calculated?
      7)   Is this borrower benefit provided automatically if borrower is eligible?

      8) Is this borrower benefit tied to the loan, no matter who the loan owner is or
         becomes?
      9) Does a deferment create a loss of this benefit?
      10) Does a forbearance create a loss of this benefit?
      11) Does loan consolidation create a loss of this benefit?
      12) Is benefit rehabilitation or reinstatement of lost benefits available?
          a) If yes, please indicate how benefit can be reinstated.
          b) Can the borrower regain the benefit more than once?
             i. If yes, how frequently can she regain it?

      13) Does choosing a repayment plan other than the standard repayment plan
         create a loss of this benefit?
      14) Are there any other conditions required to earn this benefit?
          a) If yes, please provide conditions below
              i. Condition #1
            ii. Condition #2
           iii. Condition #3

   d. Does your company provide a benefit to reduce the loan's principal
     amount for borrowers during the repayment period? (If yes, please
     answer 1-16 below)

      1) What is the amount of the principal reduction (if more than one list below)?
         a) Principal reduction #1
         b) Principal reduction #2
         c) Principal reduction #3

      2) What is the number of consecutive payments required in order to earn this
         benefit (if more than one benefit available then list below)?
         a) Consecutive payments #1
         b) Consecutive payments #2
         c) Consecutive payments #3
         d) Other
      3) Is this reduction applied to the original loan amount?
      4) Does this reduction affect the monthly payment amount?
         a) If yes, please describe its impact.
Scripps College                                                                        Page 26
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      5) What is meant by consecutive?
      6) When is a payment considered late and therefore making borrower
         ineligible for benefit?
      7) Do 100% of borrowers receive this benefit?
         a) If not, what is Utilization Rate for this benefit?
             i. Nationally
            ii. Scripps College borrowers
         b) If utilization rate is not available, please indicate what your company
            has estimated the utilization rate for this benefit to be.
      8) Once benefit is earned, can it be lost?
         a) If yes, how is the lost benefit calculated?
      9) Is this borrower benefit provided automatically if borrower is eligible?

      10) Is this borrower benefit tied to the loan, no matter who the loan owner is
         or becomes?
      11) Does a deferment create a loss of this benefit?
      12) Does a forbearance create a loss of this benefit?
      13) Does loan consolidation create a loss of this benefit?
      14) Is benefit rehabilitation or reinstatement of lost benefits available?
         a) If yes, please indicate how benefit can be reinstated.
         b) Can the borrower regain the benefit more than once?
             i. If yes, how frequently can she regain it?

      15) Does choosing a repayment plan other than the standard repayment plan
         create a loss of this benefit?
      16) Are there any other conditions required to earn this benefit?
         a) If yes, please provide conditions below
             i. Condition #1
           ii. Condition #2
          iii. Condition #3

   e. Does your company offer a benefit or incentive to waive a certain
      number of monthly payments given certain conditions? (If yes,
      please answer 1-14 below)
      1) What is the number of monthly payments that your company would
         waive?

      2) What is the number of consecutive payments required in order to earn this
         benefit (if more than one benefit available then list below)?
      3) What is meant by consecutive?

      4) When is a payment considered late, therefore, making borrower ineligible
         for benefit?
      5) Do 100% of borrowers receive this benefit?
         a) If not, what is Utilization Rate for this benefit?
             i. Nationally
            ii. Scripps College borrowers
         b) If utilization rate is not available, please indicate what your company
            has estimated the utilization rate for this benefit to be.
      6) Once benefit is earned, can it be lost?
         a) If yes, how is the lost benefit calculated?
      7) Is this borrower benefit provided automatically if borrower is eligible?
Scripps College                                                                          Page 27
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      8) Is this borrower benefit tied to the loan, no matter who the loan owner is or
         becomes?
      8) Does a deferment create a loss of this benefit?
      9) Does a forbearance create a loss of this benefit?
      10) Does loan consolidation create a loss of this benefit?
      11) Is benefit rehabilitation or reinstatement of lost benefits available?
          a) If yes, please indicate how benefit can be reinstated.
          b) Can the borrower regain the benefit more than once?
             i. If yes, how frequently can she regain it?

      12) Does choosing a repayment plan other than the standard repayment plan
         create a loss of this benefit?
      13) Are there any other conditions required to earn this benefit?
          a) If yes, please provide conditions below
              i. Condition #1
            ii. Condition #2
           iii. Condition #3

      14) How is this benefit provided if the borrower earns other borrower benefits
          which leads to loan being paid off sooner than the original term?

   f. Does your company provide a loan credit benefit for borrowers during
      the repayment period? (If yes, please answer 1-15 below)
      1) What is the amount of the loan credit (if more than one list below)?
          a) Loan Credit #1
          b) Loan Credit #2
          c) Loan Credit #3
          d) Other

      2) What is the number of consecutive payments required in order to earn this
         benefit (if more than one benefit available then list below)?
         a) Consecutive payments #1
         b) Consecutive payments #2
         c) Consecutive payments #3
         d) Other
      3) Is the loan credit applied to the loan's principal?
        a) If not, how is the credit applied?
        b) Does borrower have option to receive credit in form of a check?
      4) What is meant by consecutive?
      5) When is a payment considered late and therefore making borrower
         ineligible for benefit?
      6) Do 100% of borrowers receive this benefit?
         a) If not, what is Utilization Rate for this benefit?
             i. Nationally
            ii. Scripps College borrowers
         b) If utilization rate is not available, please indicate what your company
            has estimated the utilization rate for this benefit to be.
      7) Once benefit is earned, can it be lost?
         a) If yes, how is the lost benefit calculated?
      8) Is this borrower benefit provided automatically if borrower is eligible?
Scripps College                                                                          Page 28
Private Loan RFI


      9) Is this borrower benefit tied to the loan, no matter who the loan owner is or
         becomes?
      10) Does a deferment create a loss of this benefit?
      11) Does a forbearance create a loss of this benefit?
      12) Does loan consolidation create a loss of this benefit?
      13) Is benefit rehabilitation or reinstatement of lost benefits available?
          a) If yes, please indicate how benefit can be reinstated.
          b) Can the borrower regain the benefit more than once?
             i. If yes, how frequently can she regain it?

      14) Does choosing a repayment plan other than the standard repayment plan
         create a loss of this benefit?
      15) Are there any other conditions required to earn this benefit?
         a) If yes, please provide conditions below
             i. Condition #1
           ii. Condition #2
          iii. Condition #3


   g. Does your company provide other benefits other than those described
     above?
     1) If yes, please describe.
     2) What are conditions required to earn this benefit?
        a) Condition #1
        b) Condition #2
        c) Condition #3
      3) Do 100% of borrowers receive this benefit?
         a) If not, what is Utilization Rate for this benefit?
             i. Nationally
            ii. Scripps College borrowers
         b) If utilization rate is not available, please indicate what your company
            has estimated the utilization rate for this benefit to be.
      4) Once benefit is earned, can it be lost?
         a) If yes, how is the lost benefit calculated?
      5) Is this borrower benefit provided automatically if borrower is eligible?

      6) Is this borrower benefit tied to the loan, no matter who the loan owner is or
         becomes?
      7) Does a deferment create a loss of this benefit?
      8) Does a forbearance create a loss of this benefit?
      9) Does loan consolidation create a loss of this benefit?
      10) Is benefit rehabilitation or reinstatement of lost benefits available?
          a) If yes, please indicate how benefit can be reinstated.
          b) Can the borrower regain the benefit more than once?
             i. If yes, how frequently can she regain it?

      11) Does choosing a repayment plan other than the standard repayment plan
         create a loss of this benefit?
Scripps College                                                                          Page 29
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   h. Does your company provide other benefits other than those described
     above?
     1) If yes, please describe.
     2) What are conditions required to earn this benefit?
        a) Condition #1
        b) Condition #2
        c) Condition #3
      3) Do 100% of borrowers receive this benefit?
         a) If not, what is Utilization Rate for this benefit?
             i. Nationally
            ii. Scripps College borrowers
         b) If utilization rate is not available, please indicate what your company
            has estimated the utilization rate for this benefit to be.
      4) Once benefit is earned, can it be lost?
         a) If yes, how is the lost benefit calculated?
      5) Is this borrower benefit provided automatically if borrower is eligible?

      6) Is this borrower benefit tied to the loan, no matter who the loan owner is or
         becomes?
      7) Does a deferment create a loss of this benefit?
      8) Does a forbearance create a loss of this benefit?
      9) Does loan consolidation create a loss of this benefit?
      10) Is benefit rehabilitation or reinstatement of lost benefits available?
          a) If yes, please indicate how benefit can be reinstated.
          b) Can the borrower regain the benefit more than once?
             i. If yes, how frequently can she regain it?

      11) Does choosing a repayment plan other than the standard repayment plan
         create a loss of this benefit?


   i. Does your company provide other benefits other than those described
      above?
      1) If yes, please describe.
      2) What are conditions required to earn this benefit?
         a) Condition #1
         b) Condition #2
         c) Condition #3
      3) Do 100% of borrowers receive this benefit?
          a) If not, what is Utilization Rate for this benefit?
              i. Nationally
             ii. Scripps College borrowers
          b) If utilization rate is not available, please indicate what your company
             has estimated the utilization rate for this benefit to be.
      4) Once benefit is earned, can it be lost?
          a) If yes, how is the lost benefit calculated?
      5) Is this borrower benefit provided automatically if borrower is eligible?

      6) Is this borrower benefit tied to the loan, no matter who the loan owner is or
         becomes?
      7) Does a deferment create a loss of this benefit?
Scripps College                                                                    Page 30
Private Loan RFI

      8) Does a forbearance create a loss of this benefit?
      9) Does loan consolidation create a loss of this benefit?
      10) Is benefit rehabilitation or reinstatement of lost benefits available?
         a) If yes, please indicate how benefit can be reinstated.
         b) Can the borrower regain the benefit more than once?
             i. If yes, how frequently can she regain it?

      11) Does choosing a repayment plan other than the standard repayment plan
         create a loss of this benefit?
University of San Diego                                                                 Page 31
Private Loan RFI

Private Loan Terms and Approval Rate Response Form
Private Loan Program for Undergraduates

Name of Undergraduate Private Loan #1:
Name of Undergraduate Private Loan #2:
Name of Undergraduate Private Loan #3:


L. Private Loan Terms and Approval Rates
1. What are all the automatic disqualification factors for Undergraduate private
   student loan credit decisions?
   a. Previous default on student loan
   b. Under age of majority
   c. Bankruptcy
   d. Chargeoff
   e. Not a U.S. Citizen or Permanent Resident
   f. No credit history
   g. No FICO score
2. What are eligibility requirements for Undergraduate private loan borrowers?
   a. Attending school at least half-time
   b. Making satisfactory academic progress
   c. U.S. Citizen or Permanent Resident
   d. Other (specify)
   e. Other (specify)
   f. Other (specify)
   g. Other (specify)

3. What are your company's Undergraduate private loan approval rates on national
   basis?
   a. Approval rate (co-signer)
      1) Application basis approval rate
      2) Borrower approval rate
      3) Other approval methodology (specify)
   b. Approval rate (no co-signer)
      1) Application basis approval rate
      2) Borrower approval rate
      3) Other approval methodology (specify)

4. What are your company's Undergraduate private loan approval rates for Scripps
   College students?
   a. Approval rate (co-signer)
       1) Application basis approval rate
       2) Borrower approval rate
       3) Other approval methodology (specify)
   b. Approval rate (no co-signer)
       1) Application basis approval rate
       2) Borrower approval rate
       3) Other approval methodology (specify)
5. Is a qualified co-signer required to be eligible for the Tier 1 pricing?

6. If a borrower applies with a co-signer, will your company offer the best loan tier
   based on whoever has the best credit score?
7. Does your company offer a co-signer release?
   a. If yes, what impact, if any, would this have on the loan terms when the co-
       signer is released?
University of San Diego                                                                  Page 32
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   b. When would release occur?
8. Between June 1, 2007 and December 31, 2007, did your company make any
    changes to its credit tiers and/or credit analysis in terms of determining who
    qualifies for a loan and for which tier?

    a. If yes, when were the changes made?
    b. What changes were made?
9. For students who apply on or after March 15, 2008 and through the 2008-09
     academic year, is your company expecting to make changes to the credit
     tiers and/or to the credit analysis?
    a. If yes, when does your company expect to make these changes?
    b. What changes do you expect to make?
10. Are the following enrollment levels eligible for a Undergraduate private loan?
   a. Less than half time
   b. Half time
11. Describe policies with regard to international students who apply
   a. With an eligible co-signer (e.g. evaluated solely on the basis of the co-
        signer's creditworthiness; if excellent, eligible for Tier 1 loan)
   b. With an SSN and good, established repayment credit but without a co-
        signer (e.g. not Tier 1 eligible unless applies with eligible creditworthy co-
        signer)
   c. Without an SSN and without an eligible co-signer (e.g. not Tier 1 eligible
        unless applies with an eligible, creditworthy co-signer)
12. Is the length of grace period for a Undergraduate private loan 12 months?
   a. If not, indicate the length of grace period
        1) 9 months
        2) 6 months
        3) 3 months
        4) Other (specify)
13. What is aggregate borrower loan limit?
   a. With co-borrower?
        1) Less than $25,000
        2) $25,000 < $50,000
        3) $50,000 < $75,000
        4) $75,000 < $100,000
        5) $100,000 < $150,000
        6) More than $150,000
   b. Without co-borrower?
        1) Less than $25,000
        2) $25,000 < $50,000
        3) $50,000 < $75,000
        4) $75,000 < $100,000
        5) $100,000 < $150,000
        6) More than $150,000
14. Indicate what is included in the aggregate loan limit.
   a. Amounts borrowed from the Undergraduate private loan program
   b. Amounts borrowed from all private loan sources
   c. Amounts borrowed from all loan sources (including Federal loans)
   d. Other (specify)
15. Specify your company's minimum annual Undergraduate Private loan limit.
16. What is maximum annual loan limit?
   a. Cost of attendance less aid
   b. Other (specify)
17. Does this loan have a prepayment penalty?
   a. If yes,
University of San Diego                                                               Page 33
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      1) How is the prepayment penalty calculated?
      2) What is the length of time that the borrower is subject to a prepayment
         penalty?

18. Does your company have one repayment term?
   a. If yes, please indicate the length of your company's repayment term.
   b. If no, please provide examples of how those repayment schedules are
      structured.
      1) Repayment schedule #1
           i. Amount
          ii. Length
      2) Repayment schedule #2
           i. Amount
          ii. Length
      3) Repayment schedule #3
           i. Amount
          ii. Length
      4) Other Repayment schedule (specify)
           i. Amount
          ii. Length

19. What is the limit to the number of deferments (for student enrollment) allowed?
20. Are there deferments available for reasons other than student enrollment?
   a. Military
   b. Residency / Internship
   c. Economic hardship
   d. Other (specify)
21. What is the time limit to the number of additional deferments?
   a. No limit
   b. Less than 1 year
   c. 1 year < 2 years
   d. 2 years < 3 years
   e. 3 years < 5 years
   f. More than 5 years
22. What is the limit to the number of forbearances granted by your company?
23. For what reasons, other than financial hardship, is forbearance granted?
   a. Military
   b. Residency / Internship
   c. Natural disasters
   d. Acts of terrorism
   e. Employment
   f. Other (specify)
24. Are there any fees tied to a loan entering or exiting forbearance?
   a. If yes, please describe the fees.

25. Are flexible repayment options available to meet borrower's period of temporary
    financial difficulty?
26. Is there a death cancellation provision available?
27. Is there a total and permanent disability cancellation provision?

28. Is your company willing to offer a special program for high credit-risk Scripps
    College students (e.g., international with no-cosigner, US citizen with poor
    credit)?
29. What index is used to price private loans?
   a. Prime Rate
University of San Diego                                                            Page 34
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   b. 1-month LIBOR
   c. 3-month LIBOR
   d. 91 Day T-Bill
   e. Other (specify)
30. How frequently is index adjusted?
   a. Monthly
   b. Quarterly
   c. Other (specify)
31. Please indicate the methodology used to calculate your loan approval rates,
    including your company's treatment of borrowers who are initially denied but
    later approved with a co-borrower.


Please answer the questions below specific to each of the loan tiers (with and
without a co-signer) for your Undergraduate Private Loan Program.


Tier
With Co-signer

32. Index spread (e.g., Prime - 0.5%)
   a. If constant during in-school and repayment, put spread here.
   b. In-school
   c. In repayment
33. Interest Rate (e.g., 5.5%)
   a. If constant during in-school and repayment, put rate here.
   b. In-school
   c. In repayment
34. Fees
   a. Origination
   b. Repayment
   c. Other
35. Fees added to principal (Y/N)
36. Total Interest Capitalized at Repayment
37. Principal + Capitalized Interest at Repay.
38. Percentage of overall loans for 2006-07 academic year that fell
   in a given tier (totals for Co-signed/No co-signed loans should
   total 100%)
   a. Percentage of loan applications
   b. Percentage of total loan volume

Private Loan Scenario

Assumptions

Lender Inputs
Index Type (Prime/LIBOR)
    -If LIBOR, LIBOR Index type (e.g., 1 month)
Interest Rate Capitalization Policy
    - In-School Deferment
    - Forbearance
    - Other Deferment
Prepayment Penalty (Yes/No)
    If yes, please describe.
Fees added to Principal (Y/N)
University of San Diego                                                                 Page 35
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Other Assumptions
Loan Term                                                                    15 years
Index Assumption
   Prime Rate                                                                  6.00%
   1 month LIBOR                                                               3.11%
   3 month LIBOR                                                               3.07%
Graduation                                                               June 1, 2012
Repayment begins                                                     December 1, 2012
Payments during in-school period                                                None
Fixed interest rate over term                                                    YES

Disbursement Schedule
9/1/2008                                                                       2,500
1/1/2009                                                                       2,500
9/1/2009                                                                       2,500
1/1/2010                                                                       2,500
9/1/2010                                                                       2,500
1/1/2011                                                                       2,500
9/1/2011                                                                       2,500
1/1/2012                                                                       2,500
TOTAL                                                                $        20,000



39. Repayment example (use Assumptions and Disbursement
   Schedule listed above)
   a. No Conditional Borrower Benefits (include benefits that 100%
      of borrowers receive)
      1) Monthly Payment
      2) Total Payments over life of loan
   b. All Borrower Benefits Attained
      1) Monthly Payment
      2) Total Payments over life of loan
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Tier 1                    Tier 2
Yes                       Yes
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Note: Please set the loan term to 15 years even
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University of San Diego                                                               Page 44
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Tier 3     Tier 4     Tier 5   Tier 6   Tier 7   Tier 8   Tier 9   Tier 10   Tier 1
Yes        Yes        Yes      Yes      Yes      Yes      Yes      Yes       No
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University of San Diego                                                               Page 49
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Tier 2     Tier 3     Tier 4   Tier 5   Tier 6   Tier 7   Tier 8   Tier 9   Tier 10
No         No         No       No       No       No       No       No       No

								
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