# 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 2.30% (with autopay) to 6.25% (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 2.49% per year to 5.05% per year for a 5-year term, 2.64% per year to 5.45% per year for a 7-year term, 3.14% to 4.62% for a 8-year term, 2.73% per year to 5.65% per year for a 10-year term, 3.20% per year to 4.90% per year for a 12-year term, 2.99% per year to 5.95% per year for a 15-year term, or 3.28% per year to 6.25% per year for a 20-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 2.49% per year for a 5-year term would be $177.43. The monthly payment for a sample $10,000 loan with an APR of 2.64% for a 7-year term would be $130.52. The monthly payment for a sample $10,000 loan with an APR of 3.14% for a 8-year term would be $117.93. The monthly payment for a sample $10,000 with an APR of 2.73% for a 10-year term would be $95.32. The monthly payment for a sample $10,000 with an APR of 3.20% for a 12-year term would be $83.72. The monthly payment for a sample $10,000 loan with an APR of 2.99% for a 15-year term would be $69.01. The monthly payment for a sample $10,000 loan with an APR of 3.28% for a 20-year term would be from $56.87.

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 1.87% (with autopay) to 6.15% (without autopay) and will vary based on application terms, level of degree and presence of a co-signer. Our lowest rate option is shown with a 0.25% autopay discount. Our highest rate option does not include an autopay discount. The variable rates are based on a Variable rate index. Some of the rates are based on the one-month London Interbank Offered Rate (“LIBOR”) and some are derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). The interest rate on a variable rate loan is comprised of an index and margin added together.

For variable rates based on the one-month London Interbank Offered Rate (“LIBOR”), the following applies. 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 2.12% per year to 4.95% per year for a 5-year term, 2.24% per year to 5.35% per year for a 7-year term, 2.12% per year to 5.55% per year for a 10-year term, 2.12% per year to 5.85% per year for a 15-year term, 2.22% per year to 6.15% per year for a 20-year term, or 3.24% per year to 5.41% for a 25-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 2.12% per year for a 5-year term would be $175.80. The monthly payment for a sample $10,000 loan with an APR of 2.24% for a 7-year term would be $128.74. The monthly payment for a sample $10,000 with an APR of 2.12% for a 10-year term would be $92.55. The monthly payment for a sample $10,000 loan with an APR of 2.12% for a 15-year term would be $64.90. The monthly payment for a sample $10,000 loan with an APR of 2.22% for a 20-year term would be from $51.64. The monthly payment for a sample $10,000 loan with an APR of 3.24% for a 25-year term would be from $48.68.

Please note: The London Interbank Offered Rate (“LIBOR”) benchmark used as the Index for this loan is likely to be discontinued after 2021 or perhaps sooner. Should LIBOR no longer be available, an alternative published benchmark will be selected to serve as the Index. Any alternative Index may behave differently than LIBOR; however, any Index changes will not change most other terms of the loan, such as the maximum interest rate payable during the term of this loan or the timing of any interest rate resets. For more information on the possible discontinuation of LIBOR, see the Alternative Reference Rates Committee website which is maintained by the Federal Reserve Bank of New York and is available at: https://www.newyorkfed.org/arrc.

For variable rates based on SOFR, the following applies. Variable Interest rates on 5-, 7-, and 10-year terms are capped at 8.95% APR; 15- and 20-year terms are capped at 9.95% APR. Rate ranges are current as of 11/01/2021 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term you select, evaluation of your creditworthiness, income, presence of a co-signer and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. For variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. An autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance.

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.