# Splash Disclosures

## Fixed APR

Fixed APR: Annual Percentage Rate [APR] is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rate options range from 2.88% (without autopay) to 5.53% (without autopay) and will vary based on application terms, level of degree and presence of a co-signer. Rates are subject to change without notice. Fixed rate options without an autopay discount consist of a range from 2.88% per year to 4.92% per year for a 5-year term, 3.00% per year to 4.74% per year for a 7-year term, 3.45% per year to 5.08% per year for a 8-year term, 3.65% per year to 5.24% per year for a 10-year term, 4.18% per year to 5.11% per year for a 12-year term, 3.80% per year to 5.53% per year for a 15-year term, with no origination fees. The fixed interest rate will apply until the loan is paid in full (whether before or after default, and whether before or after the scheduled maturity date of the loan).

The Rate will not change during the term. Repayment examples are for illustrative purposes only. The following Fixed Rate examples are based on a $10,000 loan amount using the lowest APR for each application term listed above. All student loan rates used in calculating the examples are shown without the autopay discount (.25%). There are no application or origination fees, and no prepayment penalties. The monthly payment for a sample $10,000 loan with an APR of 2.88% per year for a 5-year term would be $179.15. The monthly payment for a sample $10,000 loan with an APR of 3.00% per year for a 7-year term would be $132.13. The monthly payment for a sample $10,000 loan with an APR of 3.45% per year for a 8-year term would be $119.35. The monthly payment for a sample $10,000 loan with an APR of 3.65% per year for a 10-year term would be $99.59. The monthly payment for a sample $10,000 loan with an APR of 4.18% per year for a 12-year term would be $88.43. The monthly payment for a sample $10,000 loan with an APR of 3.80% per year for a 15-year term would be $72.97.

## Variable Rate

Variable APR: Annual Percentage Rate [APR] is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Variable rate options range from 1.58% (without autopay) to 6.32% (without autopay) and will vary based on application terms, level of degree and presence of a co-signer. The variable rates are based on the Variable rate index, is based on the one-month London Interbank Offered Rate (“LIBOR”) published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of February 3, 2020, the one-month LIBOR rate is 1.65%. The interest rate on a variable rate loan is comprised of an index and margin added together. The margin is a fixed amount (disclosed at the time of your loan application) added each month to the index to determine the next month’s variable rate. Variable rate options without an autopay discount consist of a range from 1.58% per year to 4.03% per year for a 5-year term, 2.41% per year to 4.44% per year for a 8-year term, 3.19% per year to 5.08% per year for a 12-year term, 3.96% per year to 6.32% per year for a 15-year term, with no origination fees. APR is subject to increase after consummation. Variable interest rates will fluctuate over the term of the borrower’s loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. The maximum variable rate may be between 9.00% and 16.00%, depending on loan term. The floor rate may be between 0.54% and 4.21%, depending on loan term. These rates are subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.

Variable APRs and amounts subject to increase or decrease. Variable rates are indexed to the one-month LIBOR rate. The following Variable Rate examples are based on a $10,000 loan amount. Repayment examples are for illustrative purposes only. All student loan rates below are shown without the autopay discount (.25%). There are no application or origination fees, and no prepayment penalties. The monthly payment for a sample $10,000 loan with an APR of 1.58% per year for a 5-year term would be $173.45. The monthly payment for a sample $10,000 loan with an APR of 2.41% per year for a 8-year term would be $114.64. The monthly payment for a sample $10,000 loan with an APR of 3.19% per year for a 12-year term would be $83.67. The monthly payment for a sample $10,000 loan with an APR of 3.96% per year for a 15-year term would be $73.77.