Disclosure Statement

U.S. Department of Education William D. Ford Federal Direct Loan Program

P.O. Box 9003
Niagara Falls, NY14302-9003
Direct Subsidized Loan
Direct Unsubsidized Loan
Borrower Information
1. Name and Address 2.Date of Disclosure Statement
Miner, Sean C 04/16/2014
1208 Constitution Ct 3.Area Code/Telephone Number
Roseville, CA 95747

School Information
4. School Name and Address 5. School Code/Branch
Capella University G32673
Capella Tower
225 South Sixth Street, 9th Floor
Minneapolis, MN 554023389
Loan Information
6. Loan Identification Number(s) 7. Loan Period(s) 8. Loan Fee %
XXXXX3821U14G32673003 04/07/2014 – 06/13/2014 1.072

9. Subsidized Eligibility Type: 10. Subsidized Usage: 11. Total Subsidized Usage: 12. Remaining Subsidized Eligibility:

The information provided is anticipated—based on loans that your school plans to disburse to you—and is subject to change based on your future enrollment and borrowing practices.

13. Information about the loan(s) that your school plans to disburse (pay out) follows. This information is explained in detail on the
back. The actual disbursement dates and amounts may be different than the dates and amounts shown below. The school and your
servicer will notify you of the actual disbursement dates and amounts.

Direct Gross Loan Amount – Loan Fee Amount + Interest Rebate Amount = Net Loan Amount
Subsidized $0.00 – $0.00 + $0.00 = $0.00
Loan
Your school plans to disburse the Net Loan Amount as follows:
Date Net Disbursement Amount Date Net Disbursement Amount

Direct Gross Loan Amount – Loan Fee Amount + Interest Rebate Amount = Net Loan Amount
Unsubsidized $4118.00 – $44.00 + $0.00 = $4074.00
Loan
Your school plans to disburse the Net Loan Amount as follows:
Date Net Disbursement Amount Date Net Disbursement Amount
04/23/2014 $ 4074.00

If there are further disbursements to be made on the loan(s) the school will inform you.
Disclosure Statement (continued)

This Disclosure Statement provides information about the Direct Subsidized Loan and/or Direct Unsubsidized Loan that
your school plans to disburse (pay out) by crediting your account at the school, paying you directly, or both. It replaces any
Disclosure Statements that you may have received previously for the same loan(s). Keep this Disclosure statement for your
records.

Before any money is disbursed, you must have a signed Direct Subsidized Loan/Direct Unsubsidized Loan Master
Promissory Note (MPN) on file. The MPN, the Borrower's Rights and Responsibilities statement, and the Plain Language
Disclosure explain the terms of your loan(s). If you have any questions about your MPN or this Disclosure Statement,
contact your school.

If you receive your first federal student loan after June 30, 2013, there are limits on how long you can receive Direct
Subsidized Loans. In general, you may not receive Direct Subsidized Loans for more than 150% of the published length of
your program (measured in academic years). This is called your “maximum eligibility period”. Items 9-12 on the front of
this Disclosure Statement provide:

• Item 9: The Subsidized Eligibility Type, tracked as either Undergraduate Program or Non-Credential Teacher
Certification Program.
• Item 10: The Subsidized Usage Period associated with the Direct Subsidized Loan, if any, you are receiving.
• Item 11: The Total Subsidized Usage to this point in time, including the Subsidized Usage Period from Item 10.
• Item 12: The Remaining Subsidized Eligibility for the program associated with the Direct Subsidized Loan, if any,
you are receiving.

Item 13 on the front of this Disclosure Statement provides the following information about the amount of each loan that your
school plans to disburse to you:

• Gross Loan Amount - This is the total amount of the loan that you are borrowing. You will be responsible for
repaying this amount.
• Loan Fee Amount - This is the amount of the fee that we charge on your loan. It is based on a percentage of your
Gross Loan Amount. The percentage is shown in item 8. The Loan Fee Amount will be subtracted from your Gross
Loan Amount.
• Interest Rebate Amount - This is the amount of an up-front interest rebate that you may receive as part of a program
to encourage the timely repayment of Direct Loans. If you receive a rebate, the Interest Rebate Amount will be added
back after the Loan Fee Amount is subtracted.

To keep an up-front interest rebate that you receive on your loan, you must make all of your first 12 required monthly
payments on time (we must receive each payment no later than 6 days after the due date) when your loan enters
repayment. You will lose the rebate if you do not make all of your first 12 required monthly payments on time. This
will increase the amount that you must repay.

• Net Loan Amount - This is the amount of your loan money that remains after the Loan Fee Amount is subtracted and
the Interest Rebate Amount is added. The school will disburse the Net Loan Amount to you by crediting your account
at the school, paying you directly, or both.

Item 13 shows the school's plan for disbursing your Net Loan Amount to you. The actual disbursement dates and
amounts may be different than the dates and amounts that are shown. The school and your servicer will notify you of
the actual disbursement dates and amounts.

Before your loan money is disbursed, you may cancel all or part of your loan(s) at any time by notifying the school.

After your loan money is disbursed, there are two ways to cancel all or part of your loan(s):

• If the school obtains your written confirmation of the types and amounts of Title IV loans that you want to receive
for an award year before crediting loan money to your account at the school, you may tell the school that you want to
cancel all or part of the loan within 14 days after the date the school notifies you of your right to cancel all or part of
the loan, or by the first day of the school's payment period, whichever is later (the school can tell you the first day of
the payment period). If the school does not obtain your written confirmation of the types and amounts of loans you
want to receive before crediting the loan money to your account, you may cancel all or part of the loan by informing
the school within 30 days of the date the school notifies you of your right to cancel all or part of the loan. In either
case, the school will return the cancelled loan amount to us.

If you ask the school to cancel all or part of your loan(s) outside the timeframes described above, the school may
process your cancellation request, but it is not required to do so.

• Within 120 days of the date the school disburses your loan money (by crediting the loan money to your account at the
school, by paying it directly to you, or both), you may return all or part of your loan(s) to us. Contact your servicer for
guidance on how and where to return your loan money.
You do not have to pay interest or the loan fee on the part of your loan that is cancelled or returned within the timeframes
described above, and if you received an up-front interest rebate, the rebate does not apply. Your loan will be adjusted to
eliminate any interest, loan fee, and rebate amount that applies to the amount of the loan that is cancelled or returned.

If you have questions regarding the next steps in the processing of your loan, contact your school.

After the first disbursement of your loan has been made, your loan will be assigned to a loan servicer and you will be
provided with the servicer's name, address and contact information. Your servicer will service, answer questions about, and
process payments on your loan after you enter repayment.
DISSU7
 Addendum to the Direct Subsidized Loan/Direct Unsubsidized Loan Master Promissory Note
William D. Ford Federal Direct Loan Program
The Consolidated Appropriations Act, 2012 (Public Law 112-74), signed into law on December 23, 2011,
changed one of the terms of Federal Direct Stafford/Ford Loans (Direct Subsidized Loans). Specifically,
the new law temporarily eliminated the interest subsidy provided on Direct Subsidized Loans during the
six month grace period provided to students when they are no longer enrolled on at least a half-time basis.
This change is effective for new Direct Subsidized Loans for which the first disbursement is made on or
after July 1, 2012, and before July 1, 2014.
As a result of this law, the terms of Direct Subsidized Loans that you receive under a Direct Subsidized
Loan/Direct Unsubsidized Loan Master Promissory Note (MPN) may differ from the terms described in
the MPN and the Borrower's Rights and Responsibilities Statement. This Addendum modifies the MPN
to reflect the change to the terms of Direct Subsidized Loans made by Public Law 112-74. The changes
made by this Addendum are incorporated into and made part of the MPN and the Borrower's Rights and
Responsibilities Statement. You should keep a copy of this Addendum with your MPN and Borrower's
Rights and Responsibilities Statement.
1. MPN, Section E: MPN Terms and Conditions, Interest. The first sentence of the second
paragraph under the heading "Interest" is revised to read as follows:
"Except as provided in the Note below, interest does not accrue on a Direct Subsidized Loan
during an in-school, grace, or deferment period, and during certain periods of repayment under
the Income-Based Repayment Plan."
The following Note is added immediately after the paragraph that begins "If I do not pay the
interest...":
"Note: Interest accrues during the grace period on any Direct Subsidized Loan for which the first
disbursement is made on or after July 1, 2012, and before July 1, 2014."
2. MPN, Section E, Grace Period. The last sentence of the paragraph under the heading "Grace
Period" is revised to read as follows:
"However, interest will accrue during the grace period on all of my Direct Unsubsidized Loans,
and on my Direct Subsidized Loans for which the first disbursement is made on or after July 1,
2012, and before July 1, 2014. Interest that accrues during the grace period on these loans will be
capitalized if I do not repay it."
3. Borrower's Rights and Responsibilities Statement, Item 9, Payment of Interest. The first
sentence of the first paragraph is revised to read as follows:
"Except as provided in the Note below, interest does not accrue on a Direct Subsidized Loan
while you are enrolled in school at least half time, during your grace period, during deferment
periods, and during certain periods of repayment under the Income-Based Repayment Plan."
The following Note is added at the end of Item 9:
"Note: Interest accrues during the grace period on any Direct Subsidized Loan for which the first
disbursement is made on or after July 1, 2012, and before July 1, 2014."

06/2012