Disclosure Statement

William D. Ford Federal Direct Loan Program

Direct PLUS Loan

Borrower Information
1. Name and Address 2.Date of Disclosure Statement
05/29/2025
Rusnak, Rachel S
3650 SE Tomahawk Dr
Tecumseh, KS 66542

3.Area Code/Telephone Number

785-806-4068
School Information
4. School Name and Address 5. School Code/Branch
MALONE UNIVERSITY G03072
2600 CLEVELAND AVENUE NW
CANTON, OH 447093897
Student Information
6. Student’s Name 7. Student’s Social Security Number
Rusnak, Rachel S XXX-XX-9968
8. Student’s Date of Birth
12/02/1996
Loan Information
9. Loan Identification Number(s) 10. Loan Period(s) 11. Loan Fee %
XXXXX9968P26G03072001 05/12/2025 - 05/07/2026 4.228
12. Information about the loan that the 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 – Loan Fee + Interest Rebate = Net Loan

PLUS Amount Amount Amount Amount
Loan $20,372.00 – $860.00 + $0.00 = $19,512.00
The school plans to disburse the Net Loan Amount as follows:
Date Net Disbursement Amount Date Net Disbursement Amount
05/29/2025 $ 822.00
09/19/2025 $ 9,345.00
02/06/2026 $ 9,345.00

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

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 Disclosure Statement (continued)

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

Your school will tell you what loans, if any, you are eligible to receive. If you have questions regarding your loan eligibility,
the next steps in the processing of your loan, when the loan will be disbursed (paid out), or no longer wish to receive the loan,
contact your school's financial aid office.

Before any money is disbursed, you must have a signed Direct PLUS Loan Application and 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. If you have any questions about your MPN or this Disclosure Statement, contact the school's financial aid
office.

Item 12 on the front of this Disclosure Statement provides the following information about the amount of the loan that the
school plans to disburse 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 11. 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 or the student’s account at the school, paying you directly, or both.

• Item 12 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 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:

• If the school obtains your written confirmation of the types and amounts loans that you want to receive for an
award year before crediting loan money to your or the student’s 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 or the student’s 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 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 or the
student's account at the school, by paying it directly to you, or both), you may return all or part of your loan to
us.

• Contact your servicer for guidance on how and where to return your loan money.

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 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.
After the first disbursement of your loan has been made, your loan will be assigned to a loan servicer and you will receive 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.
To view the list of servicers and their contact information, visit StudentAid.gov and select the "Who’s My Servicer?" link on
"Manage Loans."

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