Cosigner Addendum

to Application and Promissory Note TrID 2281365

This Cosigner Addendum adds the undersigned as a Cosigner to the Application and Promissory Note (Note) for a student loan for the borrower listed in Section B below.
The terms of this Cosigner Addendum will be incorporated into the Note by the Cosigner’s signature below.

Section A. Cosigner Information

1. Cosigner Last Name Cosigner First Name MI 2. Date of Birth 3. Social Security Number

POWELL CARLA D 11 /9 / 1978 - -

XXX-XX-8238
MM DD YYYY

4. Permanent Home Street Address (No PO Box) 5. Time at Current Address 6. Do You (check one):
Own ✔ Rent Other
18050 KELLY BLVD 716 5 Year(s)
11 Month(s)
8. Relationship to Student
City State ZIP Code 7. Monthly Housing Payment (check one):
Parent Relative
DALLAS TX 75287 $ 750 ✔ Guardian Other
9. Phone Consent Primary Phone Number (include area code)
By
 providing your phone numbers, you agree that Discover, its affiliates and agents may call you at these numbers. If this is a Land Line
cell phone number, you agree that we may contact you using an automatic dialer, including pre-recorded messages and/or text (931)- 492-6856
-
✔ Mobile
messages, even if your cell phone provider may charge you for calls according to your current plan.
Alternate Phone Number (include area code)
In addition, by selecting “Yes” below and signing this application, you consent to receive offers and promotions on products and

services using any means as described above. Yes ✔ N o - - Land Line

N/A Mobile
10. E-mail Address
You do not have to include alimony, child
support or separate maintenance income unless
daniellabrown052@gmail.com you want it considered as a basis for repayment.
11. Employment Status 12. Occupation 13. Total Gross Income
✔ Annual
Full Time NURSE/HEALTH SERVICES $ 42355 Monthly
14. How much of your Total Gross Income includes non-taxable income? 15. Additional Household Income (optional) 16. How
 much of your Additional Household Income
✔ Annual ✔ Annual includes non-taxable income? (optional)
$ 42051 Monthly $0 Monthly
0
✔ Annual

$ Monthly
17. Requested Loan Amount 18. Citizenship (check one): 19. Country of Citizenship

$ 40000 US Citizen Permanent Resident International UNITED STATES OF AMERICA (THE)

✔

Section B. Borrower Information

20. Borrower Last Name Borrower First Name MI 21. Date of Birth 22. Social Security Number

LINDBERG 9 /1 / 2000 - -
XXX-XX-3684
TYLER
MM DD YYYY

Section C. Cosigner Signature

“You” refers to the Cosigner and “we” or “us” refers to the lender Discover Bank. You have received, read, understand, and agree to be bound by all of the terms
and conditions of the Note, this Cosigner Addendum, and the other materials included with the Note, which are hereby incorporated by reference. You may obtain
a copy of the Note from the borrower or from us at DiscoverStudentLoans.com. You promise to pay us and any other holder of the loan all sums disbursed under the
terms of the Note, plus interest and all other charges that may become due as provided for by the Note. You declare that the information provided above is true and
complete to the best of your knowledge and belief. We may request a consumer credit report on you at any time. If you request, we will tell you whether or not a
consumer credit report was requested and if one was, the name and address of the consumer reporting agency that furnished the report.
By signing below, in addition to the certifications above, you certify your loan is a student loan incurred solely to pay for qualified higher education expenses.
23. Signature of Cosigner 24. Date
Authentication: Aug 25 2021 4:18:02 PM 2792275184
Consent: 8/25/2021 4:15:35 PM E-SIGNED
/
8/25/2021 /
4:18:02 PM
MM DD YYYY

For Married Arizona Resident Cosigners

Marital Community Property Joinder: The undersigned spouse of the Cosigner joins in the execution of this Cosigner Addendum for the purpose of binding the
marital community property of Cosigner and the undersigned, in accordance with Arizona Revised Statutes § 25-214 or other applicable law. THE UNDERSIGNED
SPOUSE OF THE COSIGNER ACKNOWLEDGES RECEIPT FROM THE LENDER, PRIOR TO SIGNING BELOW, OF THIS “NOTICE TO COSIGNER.”
25. Signature of Cosigner Spouse for Married Arizona Resident 26. Date

/ /
MM DD YYYY
Please return completed form to: Discover Student Loans • PO Box 30947 • Salt Lake City, UT 84130-0947
DSL CA 202105-Vers-A008
Page 1 of 2
NOTICE TO COSIGNER (Traducción en Ingles Se Requiere Por La Ley)
You are being asked to guarantee this debt. Think carefully before you do. If the borrower doesn’t pay the debt, you will have to. Be
sure you can afford to pay if you have to, and that you want to accept this responsibility.
You may have to pay up to the full amount of the debt if the borrower does not pay. You may also have to pay collection costs,
which increase this amount.
The creditor can collect this debt from you without first trying to collect from the borrower. The creditor can use the same collection
methods against you that can be used against the borrower, such as suing you, garnishing your wages, etc. If this debt is ever in
default, that fact may become a part of your credit record.
This notice is not the contract that makes you liable for the debt.
AVISO PARA EL FIADOR (Spanish Translation Required By Law)
Se le esta pidiendo que garantice esta deuda. Píenselo con cuidado antes de ponerse de acuerdo. Si la persona que ha pedido
este préstamo no paga la deuda, usted tendrá que pagarla. Esté seguro de que usted podrá pagar si sea obligado a pagarla y de
que usted desea aceptar la responsabilidad.
Si la persona que ha pedido el préstamo no paga la deuda, es posible que usted tenga que pagar la suma total de la deuda, mas
el costo de cobranza, lo cual aumenta el total de esta suma.
El acreedor (financiero) puede cobrarle a usted sin, primeramente, tratar de cobrarle al deudor. Los mismos métodos de cobranza
que pueden usarse contra el deudor, podrán usarse contra usted, tales como presentar una demanda en corte, quitar parte de su
sueldo, etc. Si alguna vez no se cumpla con la obligación de pagar esta deuda, se puede incluir esa información en la historia de
crédito de usted.
Este aviso no es el contrato mismo en que se le echa a usted la responsabilidad de la deuda.
SPECIAL NOTICE FOR RESIDENTS OF GEORGIA
By signing as Cosigner, you waive any right to require the Lender to commence an action against the Borrower as provided in the Official Code of Georgia
Annotated §10-7-24.

SPECIAL NOTICE FOR RESIDENTS OF IOWA, NEW YORK AND SOUTH CAROLINA
You agree to pay the debt identified below although you may not personally receive any property, services, or money. You may be
sued for payment although the person who receives the property, services, or money is able to pay. You should know that the Total of
Payments listed below does not include finance charges resulting from delinquency, late charges, repossession or foreclosure costs,
court costs or attorney’s fees, or other charges that may be stated in the note or contract. You will also have to pay some or all of
these costs and charges if the note or contract, the payment of which you are guaranteeing, requires the borrower to pay such costs
and charges. If this debt is ever in default, that fact may become a part of your credit record. This notice is not the note, contract, or
other writing that obligates you to pay that debt. Read that writing for the exact terms of your obligation.
IDENTIFICATION OF DEBT(S) YOU MAY HAVE TO PAY
Debtor The person identified as the Borrower in Section B of this Cosigner Addendum
Creditor Discover Bank
Date The date of your signature on this Cosigner Addendum. You may refer to the Cosigner Disclosure for
information about the timing of payments.
Kind of Debt Education Loan
Total of Payments The total of payments will be disclosed in the Cosigner Disclosure you will receive prior to the final loan
disbursement, and it will include the principal loan amount (which will not be greater than the Requested
Loan Amount set forth in Section A of this Cosigner Addendum) and accrued interest.
You have been given a completed copy of this notice and of each writing that obligates you or the Debtor on this debt.
SPECIAL NOTICE FOR RESIDENTS OF NORTH CAROLINA
By signing as Cosigner, I waive any right I have to require the Lender to proceed in accordance with the provisions of North Carolina General Statutes § 26-7
through § 26-9 and acknowledge that the Lender may proceed against me without first proceeding against the Borrower or any collateral for the loan.

SPECIAL NOTICE FOR RESIDENTS OF VERMONT

Your signature on this Note means that you are equally liable for repayment of this loan. If the borrower does not pay, the lender has
a legal right to collect from you.
SPECIAL NOTICE FOR RESIDENTS OF WISCONSIN
Explanation of Personal Obligation
a) You have agreed to pay the total of payments under a consumer credit transaction between the borrower on the Note and Discover Bank, made on the date
and in the amount set forth in the Note evidencing this transaction.
b) You will be liable and fully responsible for payment of the above amount even though you may not be entitled to any of the goods, services or loan proceeds
furnished thereunder.
c) The undersigned may sue in court for the payment of the amount due under this consumer credit transaction even though the customer named above may be
working or have funds to pay the amount due.
d) This explanation is not the agreement under which you are obligated, and the guaranty or agreement you have executed must be consulted for the exact
terms of your obligations.
e) You are entitled now, or at any time, to one free copy of any document you sign evidencing this transaction.
f ) The undersigned acknowledges receipt of an exact copy of this notice.
DSL CA 202105-Vers-A008
Page 2 of 2
 Promissory Note
THIS PROMISSORY NOTE CONTAINS AN ARBITRATION CAPITALIZATION OF INTEREST) below. If you have more than one written notice must include: your name, mailing address, the last four
PROVISION. ARBITRATION CAN HAVE A SUBSTANTIAL IMPACT loan with us you may elect to extend the Repayment Period for any digits of your Account number and the specific cell phone number(s)
ON YOUR RIGHTS, INCLUDING YOUR RIGHT TO A JURY TRIAL of your loans to expire at the end of the longest Repayment Period for which you would like to cancel your consent to be contacted by
AND YOUR RIGHT TO PARTICIPATE IN A CLASS ACTION LAWSUIT. for any of your loans. We will notify you when you may make that an automated dialer or pre-recorded voice message.
YOU MAY REJECT THE ARBITRATION PROVISION AS EXPLAINED election. In addition, if you have more than one loan with us we may G. HOW YOU AGREE TO THE TERMS OF THIS LOAN(S):
IN SECTION X (ARBITRATION OF DISPUTES) BELOW. send you a single statement with a single minimum payment amount With respect to each disbursement of loan proceeds, you agree
A. PARTIES: that will fully amortize your loans over the adjusted Repayment to all the terms in this Note and the Final Disclosure(s) when you
The words “we,” “our,” and “us” mean Discover Bank. The words Period. The length of the Repayment Period is subject to limitations on consummate the loan(s) by either: 1) signing the Application and
“Borrower,” “you,” and “your” refer to the Student and any Cosigner. the period of repayment under applicable law. Promissory Note, including any applications for additional loan(s)
The “Student” is the student whose education the loan is used to “School” is an eligible institution of higher education you identify on under this Note; or 2) using any of the proceeds or allowing someone
finance. The “Cosigner” is another person, other than the Student, this Application and Promissory Note, which we approve, and which to use any of the proceeds on your behalf. You are not bound to the
who agrees to be bound by all of the terms and conditions of this the Student attends or will attend. repayment terms in this Note until the loan proceeds are disbursed.
Note. When the loan is made, both the Student and any Cosigner C. IDENTITY AND ENROLLMENT VERIFICATION: H. DISBURSEMENT OF LOAN PROCEEDS:
will be liable, individually and together, for the full amount of the To help the government fight the funding of terrorism and money We will decide how to disburse the loan proceeds. We can disburse
loan, plus interest and other charges. The Borrower and the Cosigner laundering activities, federal laws require all financial institutions loan proceeds by: 1) making one or more checks payable jointly to
will be bound by any communication or disclosure we have with to obtain and record information that identifies each person who you and to the School; 2) making one or more checks payable to
either party and any modification we agree to with either party will applies for a loan. When you apply for a loan, we will ask for your only the School; or 3) electronically transmitting funds to the School.
bind both the Borrower and the Cosigner. name, address, date of birth, Social Security number, and other You authorize the School to apply the proceeds to your student
B. OTHER DEFINITIONS: information and documents that will allow us to identify you. If you did account at the School and to return to us as a partial prepayment
“Principal” is the amount disbursed to you or on your behalf as not provide a Social Security number during the application process, of a loan made under this Note any portion of the proceeds that
disclosed on the Final Disclosure plus the amount of any interest that you agree to promptly provide us with your Social Security number exceeds the amount necessary to pay your cost of attendance, less
is Capitalized at any time during the life of the loan(s) made under if and when it is issued to you, and to respond to any request by us other financial aid, as calculated by the School. We may cancel
this Note. for the status of your Social Security number. It is your obligation to disbursement in the event of your bankruptcy, your death or fraud in
“Capitalization” and “Capitalize” is the addition of accrued and inform us of any future changes to your enrollment status including, connection with your application.
unpaid interest to the outstanding Principal balance of a loan made but not limited to, when you return to school at least half time, change
schools, graduate, withdraw, or are no longer enrolled at least half I. YOUR PROMISE TO PAY:
under this Note. After we Capitalize interest, interest will accrue on You promise to pay us the Principal loan amount (including
the new Principal balance, including the Capitalized interest. time. You are also obligated to respond to our requests for you to
confirm your enrollment status from time to time. If you do not inform Capitalized interest), interest accrued on the Principal, and all other
“Deferment Period” is the period of a loan made under this Note amounts that may become due under this Note. You promise to
during which you may not be required to make any payments of us of any future changes to your enrollment status or if you do not
respond to our requests for confirmation of your enrollment status, make each payment on or before the date that it is due. You promise
Principal or interest, depending upon the repayment option you to make the payments at the place or to mail the payments to the
selected during the application process. If you do not select an In- you agree that we may treat the loan as beginning or remaining
in the Repayment Period. We may also independently confirm your address that we specify. You must make payments on time even if
School Payment option, a Deferment Period will begin on the date we do not send you a statement. On the date that the last installment
the loan proceeds are first disbursed and will end after the Grace enrollment status.
of Principal becomes due under the terms of this Note, you promise
Period. In certain circumstances, you may be eligible to extend your D. CONSUMER CREDIT REPORTS: to pay any other accrued and unpaid amounts in addition to the
Deferment Period longer. If you have more than one loan with us, We may request your consumer credit report from one or more scheduled installment of Principal. Your responsibility to repay
you consent and agree that we may, but are not required to, extend consumer credit reporting agencies to evaluate your application and amounts due under this Note is not affected by the liability of any
the Deferment Period for any of your loans to expire at the end of at any time before you repay your loan in full. If you ask, we will tell other person to you. You agree to uphold your obligations in this
the longest Deferment Period for any of your loans, but we are not you if we requested a consumer credit report and give you the name Note, even if you do not complete your education program. If you
required to extend a Grace Period on a loan that has already utilized and address of the consumer credit reporting agency that provided are a Cosigner, your obligation to repay the loan is the same as
its Grace Period. The Repayment Period will begin on the day after it. We may report information about your loan to consumer credit the Student’s.
a Deferment Period ends. reporting agencies, such as late payments, missed payments, or
“Final Disclosure” is a Truth-in-Lending Act document that we will other delinquencies or defaults on your loan that may reflect in your J. INTEREST:
provide to you as required by federal law prior to your first loan consumer credit report. If you believe we have reported inaccurate You agree to pay interest on the Principal loan amount from the time
disbursement. information about your loan to a consumer credit reporting agency, we disburse the proceeds until the Principal balance is paid in full.
“Grace Period” is a period of six months after you cease to be or if you believe you have been the victim of identity theft in 1) Interest Calculated Daily: We will calculate interest on a daily
enrolled at a School at least half-time for undergraduate loans, or connection with a loan, write to us at Discover Student Loans, PO basis on the outstanding Principal balance until the loan balance is
nine months after you cease to be enrolled at a School at least half- Box 30947, Salt Lake City, UT 84130-0947 or another customer paid in full. The daily interest rate is equal to the annual interest rate
time for graduate loans. service address that we provide to you on a letter or statement. In in effect on that day divided by the number of days in that calendar
“In-School Payment” is a repayment option, if offered to you and your letter: 1) provide your name and the loan number; 2) identify year. Because we calculate interest daily, the amount of interest you
selected by you in the application for a loan made under this Note, the specific information that you are disputing; 3) explain the basis pay will vary based on the number of days between your previous
by which you agree to make: 1) in the case of fixed in-school for the dispute; and 4) provide any supporting documentation that payment and your current payment.
payments, a payment of $25 per month, or 2) in the case of interest- substantiates the basis for your dispute. 2) Interest Rate Calculation: The fixed or variable interest rate will be
only payments, a payment of the interest accrued each month. For identified on the Final Disclosure(s) for your loan(s). If your loan has
E. PRIVACY: a fixed interest rate, it will not increase or decrease over the life of
either option, beginning approximately 30 to 60 days after loan Our Privacy Policy includes a summary of the personal information
disbursement and continuing while in school, during your Grace your loan unless you elected to make interest-only payments while in
we collect, when we may share it with others, how we safeguard school and stop making payments. If you stop making your required
Period, and during any subsequent in-school periods. Such In-School the confidentiality and security of information, and the steps you
Payments may not cover all accrued interest or reduce the Principal, interest-only payments prior to the Repayment Period, your interest
may take to limit our sharing of such information with others. Our rate will go up. (See Section L.9 for more details). If your loan has a
and any unpaid interest will be Capitalized when your Repayment personnel may listen to or record phone calls between you and
Period begins. variable interest rate, the interest rate may change. We will calculate
our representatives without notice to you, as permitted by law. For the variable rate during the Deferment Period and the Repayment
“Multi-Year Option” is available to select qualified Borrowers. If example, we listen to calls for quality monitoring purposes. We may
eligible for the Multi-Year Option, you will be notified during your Period by taking the applicable variable index as described below,
request relevant information about you from the School, and you rounded up to the nearest one-eighth of one percent (0.125% or
application. To continue with the Multi-Year Option, you and the authorize the School to release that information to us. You agree
same Cosigner (if you have one) must apply for subsequent loan(s) 0.00125), and by adding a “margin” percentage (which is a fixed
that we may share personal and financial information about you to amount identified on your Final Disclosure).
that will be used for the same degree, at the same School where you the School in connection with this loan. You also agree that we may
are attending at least half-time, as your initial loan. Terms governing 3) Variable Index: The applicable variable index is currently the
share any personal and financial information about the Student with 3-month London Interbank Offered Rate (LIBOR) Index, which
any subsequent loan(s) (including interest rate, repayment option and the Cosigner and any personal and financial information about the
right to cancel period) will be provided in the Promissory Note and is variable and may change quarterly on each January 1, April
Cosigner with the Student. 1, July 1, and October 1 (the “interest rate change date”). The
Final Disclosure for your subsequent loan(s) and may be different
from the terms governing your initial loan. We may decline your F. OUR COMMUNICATIONS WITH YOU: current variable rate is based on the variable 3-month LIBOR Index
application for subsequent loan(s). The Multi-Year Option will expire You agree that we, our Affiliates, and agents, including service rate of interest published in the Money Rates section of The Wall
if you do not apply for subsequent loan(s) within either 18 months providers (“Authorized Parties”) may contact you, including calls, Street Journal fifteen (15) days prior to the interest rate change
after submitting your most recent application or 5 years after your text message or email, about any current or future accounts or date. In the event that more than one 3-month LIBOR Index rate
initial application is submitted. We may, at our sole discretion, applications, with respect to all products you have with us at any is published, the rate will be the highest rate published. If the
discontinue the Multi-Year Option. If you are an eligible Borrower phone number or email (i) you have provided to us, (ii) from which 3-month LIBOR is temporarily unavailable and not published fifteen
whose Multi-Year Option has not expired, then we will notify you of you contacted us, or (iii) which we obtained and believe we can days prior to the interest rate change date, then we will use the
any discontinuance of the Multi-Year Option in advance. reach you at, even if your phone provider may charge you message immediately preceding published 3-month LIBOR Index rate. If The
“Note” is this Application and Promissory Note for a private and data rates for calls or texts. You agree that the Authorized Parties Wall Street Journal is no longer published or stops publishing the
education loan. may record or monitor any calls between you and the Authorized 3-month LIBOR Index, we will choose another comparable source
“Repayment Period” is the period of a loan made under this Note Parties. You agree to notify us if you change or discontinue using any that publishes the 3-month LIBOR rate. If we determine, in our sole
during which you are required to make full payments of Principal and phone number you provide. You agree that the Authorized Parties opinion, the 3-month LIBOR Index is no longer appropriate due
interest. The Repayment Period will be for 180 monthly payments for may contact you using an automatic dialer or pre-recorded voice to reduced availability or reliability, regardless of whether it is
undergraduate loans or 240 monthly payments for graduate loans. message. If you no longer wish to be contacted on your cell phone published, we will select a different index that is comparable to the
The Repayment Period may be shortened or extended as described by an automated dialer or pre-recorded voice message, you must 3-Month LIBOR to be the variable index and may adjust the margin
in Section J (INTEREST) and Section L (REPAYMENT TERMS AND provide us written notice cancelling your consent at this address: so that, on the date of substitution, the resulting variable interest
Discover Bank, PO Box 30937, Salt Lake City, UT 84130-0937. The rate is consistent with the former variable interest rate described in
DSL PL 202105 - Vers-P012
Page 1 of 3
this paragraph. Thereafter, the variable rate will change based on 7) Repayment Assistance Options: If you are unable to repay month in which it becomes 120 days past due, during the Repayment
the variable index using the adjusted margin. The variable index, your loan according to the terms of this Note, we may offer Period;
whether LIBOR or a comparable index, is a pricing index and does certain repayment assistance options such as forbearance or 2) if you have made any material untrue statement or
not represent the lowest or best interest rate available to you at any other programs. Interest will continue to accrue during repayment misrepresentation in an application or any other certificate or
bank at any given time. If at any time the fixed or variable interest programs. Any and all accrued and unpaid interest will be document given or made for a loan(s);
rate as provided in this section is not permitted by applicable Capitalized and added to the Principal balance of your loan at the 3) if we receive notice that you and your Cosigner (if you have one)
law, interest will accrue at the highest rate allowed by applicable end of the repayment program period. have filed for bankruptcy and applicable law or regulatory guidance
law. The interest rate will never be higher than the maximum rate 8) Amounts Owing at the End of the Repayment Period: Because requires that we deem you in default upon 60 days following receipt
disclosed in your Final Disclosure(s). interest accrues daily on the outstanding Principal loan balance, of such bankruptcy notice.
4) Interest Rate Changes: If your loan has a variable interest rate, you may owe Principal, interest, and/or other charges at the end The Student will not be in default in the event of the death of the
we will notify you of any changes in the interest rate as required of the Repayment Period if the interest rate changes or if you make Cosigner (if you have one).
by law. A change in the interest rate may cause the amount of the payments after the payment due dates. In these cases, we will S. DEATH AND DISABILITY — LOAN CANCELLATION:
final payment to change, may cause the amount of the monthly increase the amount of the last monthly payment by the amount In the event of the Student’s death, any loans evidenced by this
payments to increase or decrease, or may cause the number of necessary to repay the loan in full. However, the amount of the final Note will be cancelled. The Student has the option to designate an
payments to change. payment will not be more than twice the amount of the previous individual to have the legal authority to act on the Student’s behalf
5) Interest after Maturity and Judgment: Unless prohibited by payment. If necessary, we will increase the number of payments. with respect to loans made under this Note in the event of the death
applicable law, interest calculated as described in this Note will 9) In-School Payments: If you agreed to make payments while in of the Student.
continue to accrue on the unpaid balance until it is paid in full, school, and you fail to make timely In-School Payments, your loan
even after maturity (whether by acceleration or otherwise) and/or will be placed in a suspension period of up to 6 months, which will In the event of the Student’s total and permanent disability (as
judgment, if a judgment is entered against you for the amount due. increase the amount you pay over the life of the loan. If you agreed to reasonably determined by us), any loans evidenced by this Note may
make interest-only payments while in school and do not make timely be eligible for cancellation in our sole discretion. Loan cancellation
K. MILITARY LENDING ACT: may have income tax consequences.
1) Statement of the Military Annual Percentage Rate (MAPR): Federal payments, your required loan payments will be suspended for up to
law provides important protections to members of the Armed Forces six months at a time. T. GENERAL WAIVER PROVISIONS:
and their dependents relating to extensions of consumer credit, The suspension of your required loan payments while in school and/ You have waived presentment for payment, demand, protest, notice
including installment loans. In general, the cost of consumer credit or during your Grace Period and prior to the Repayment Period will of protest, dishonor, and all other notices or demands in connection
to a member of the Armed Forces and his or her dependent may result in the loss of the interest-only discount during the suspension with the delivery, acceptance, performance, default, or enforcement
not exceed an annual percentage rate of 36 percent. This rate period. Payment suspensions that occur during in-school periods that of this Note. We can accept late payments, partial payments, or
must include, as applicable to the credit transaction or account: follow entry into the Repayment Period will not result in the loss of the checks and money orders marked “payment in full” or with any other
(a) the costs associated with credit insurance premiums; (b) fees for interest rate discount. restrictive endorsement without losing any of our rights under this
ancillary products sold in connection with the credit transaction; (c) The suspension of the interest-only discount will result in an increase Note.
any application fee charged (other than certain application fees for to the amount you pay over the life of the loan. When the suspension U. ASSIGNMENT:
specified credit transactions or accounts); and (d) any participation ends you will again be required to make monthly payments on your You may not assign or otherwise transfer your rights under this Note
fee charged (other than certain participation fees for a credit card loan and the discount will be re-applied if you do so. to anyone else. We may sell, transfer, or assign this Note, without
account). If you would like more information about whether this You must pay off unpaid accrued interest on your loan before notice to you, unless required by law, and your rights and obligations
section applies to you, please contact us at 1-844-DFS-4MIL or if you entering the Repayment Period to receive the interest-only discount under this Note will continue unchanged.
are calling from outside the US at +1-801-451-3730. during the Repayment Period. If your unpaid accrued interest at the V. DELAY IN ENFORCEMENT:
2) Oral Disclosures: If you are a member of the Armed Forces or a start of the Repayment Period exceeds 60 days of accrued interest, We can delay enforcing any rights under this Note without losing any
dependent of such a member covered by the federal Military Lending you will not receive the interest rate discount during the Repayment rights. Our failure to enforce any right under this Note will not act
Act, before agreeing to this Note, to hear important disclosures about Period. Sixty days of accrued interest will be calculated based on as a waiver of that right or preclude the exercise of that right in the
the MAPR, your payment obligations, or for more information about your original loan amount and interest rate (which includes any event of a future occurrence of the same event. We can also extend
whether this applies to you, please contact us at 1-844-DFS-4MIL or interest-only discount), as reflected on your Final Disclosure. or defer the time allowed for making payments at your request, and
if you are calling from outside the US at +1-801-451-3730. 10) United States Bank Account: Payments must be made from an such extension will not affect your obligations, whether or not you are
L. REPAYMENT TERMS AND CAPITALIZATION OF INTEREST: account of a bank domiciled in the United States. Sending cash given notice of the extension.
1) Deferment Period: Interest will accrue but you are not required payments is not allowed. Cash is easily lost or stolen. If you send
cash, we may refuse to accept it. W. NOTICES AND ADDRESSES:
to make payments during a Deferment Period, unless you elected to 1) Government guidelines require us to maintain current information
make In-School Payments. If you fail to provide adequate verification M. YOUR RIGHT TO CANCEL: about you. You agree to notify us promptly after any change in
of enrollment status, your Grace Period will begin, if any Grace Under the Truth-in-Lending Act, the Student has the right to cancel a your name, address, or other contact information. We also may
Period remains, followed by your Repayment Period. We will loan prior to the first disbursement by giving notice to us as described periodically request that you update or confirm your information, and
Capitalize any and all accrued and unpaid interest at the beginning on the Final Disclosure. The Cosigner does not have the right to you agree to do so promptly.
of the Repayment Period. cancel, except as provided in the next section. 2) Any notice or communication with us required or permitted under
2) Repayment Period: You are required to make payments during N. ADDITIONAL RIGHT TO CANCEL: the Federal Bankruptcy Code must be in writing, must include your
the Repayment Period in consecutive, monthly installments until you In addition to the Student’s right to cancel under the Truth-in-Lending loan account number, and must be sent to Discover Student Loans,
pay the Principal, interest, and all other charges owed under this Act, if, within 120 days after first disbursement date, all future loan PO Box 30947, Salt Lake City, UT 84130-0947 or another customer
Note. disbursements are cancelled and all previously disbursed loan service address that we provide to you on a letter or statement.
3) Payment Due Dates: Payments will be due monthly on the same proceeds are returned to us, we will waive any and all interest 3) You will send any other type of notice to the address that we have
day of each month as determined by us. The first payment will be due charges from the date of first disbursement on your loan. If a loan or most recently provided to you for that purpose.
approximately 23 days, but not more than 60 days, after the start of an individual disbursement is cancelled, you will have to reapply to 4) Except as otherwise provided by applicable law, any notice that
the Repayment Period or after the first disbursement if you elected to obtain a new loan. we are required to give you will be effective when mailed by USPS
make In-School Payments. First-Class Mail to your address in our records.
4) Calculation of Initial Payment Amount and Minimum Payment O. PREPAYMENT:
Amount: At the start of the Repayment Period, we will calculate You may prepay, in full or in part, the amount owed on your loan(s) X. ARBITRATION OF DISPUTES:
the payment amount necessary to amortize your outstanding loan at any time without penalty. If you prepay the loan(s) in part, you 1) Agreement to Arbitrate. In the event of a dispute between you
balance, including Capitalized interest, at the current interest rate agree to continue to make regularly scheduled payments until all and us arising out of or relating to this Loan Agreement or the
in equal installments over the number of months in the Repayment amounts due under this Note are paid. If you have more than one relationships resulting from this Loan Agreement or for any other
Period. You agree to pay at least $50 per month across all of your loan outstanding, you may direct the amount of your prepayment to dispute between you or us, including for example, a dispute based
loans serviced by us during the Repayment Period, unless otherwise one or more particular loans. If you do not specify how to apply your on a federal or state statute or local ordinance (“Claim”), either
required by law or your entire balance for all of your loans is less prepayment, we will apply it to your loans according to our own you or we may choose to resolve the Claim by binding arbitration,
than $50. internal policy in effect at the time. as described below, instead of in court. Any Claim (except for a
5) Changes in Payment Amount: We may re-amortize your loan at P. NO RETURNED PAYMENT CHARGES: Claim challenging the validity or enforceability of this arbitration
any time to ensure the new outstanding loan balance at the then- We will not assess any returned payment charges under this Note, agreement, including the Class Action Waiver) may be resolved by
current interest rate will be paid in equal monthly installments by the but the bank from which you make payments might assess you a binding arbitration if either side requests it. THIS MEANS IF EITHER
end of the Repayment Period. This may cause scheduled monthly returned payment fee pursuant to your agreement with your bank. YOU OR WE CHOOSE ARBITRATION, NEITHER PARTY WILL HAVE
payments to increase or decrease. We will inform you in advance of THE RIGHT TO LITIGATE SUCH CLAIM IN COURT OR TO HAVE A
Q. NO LATE PAYMENT CHARGES: JURY TRIAL. ALSO DISCOVERY AND APPEAL RIGHTS ARE LIMITED
any change in the scheduled monthly payment. We will not assess any late payment charges under this Note.
6) Application of Payments: Payments will be applied first to accrued IN ARBITRATION.
interest and then to Principal. Under some circumstances, such as R. DEFAULT – WHOLE LOAN DUE: Even if all parties have opted to litigate a Claim in court, you or we
with In-School Payments, the payment amount may not cover the If you are in default on a loan made under this Note, the entire may elect arbitration with respect to any Claim made by a new party
interest that accrues. In those cases, we will Capitalize the unpaid outstanding balance on the loan will be due immediately at our or any new Claims later asserted in that lawsuit.
interest and add it to the Principal balance of the loan at the end of option, except as prohibited by law. This will happen without any This arbitration agreement does not apply if, on the date you submit
a Deferment Period. In the event of default, any payments you make prior notice to you or right to cure, except where required by law. If your Application or on the date we seek to invoke this arbitration
thereafter may be applied by us differently unless and until you bring you are in default and we file suit or take other action to collect this agreement, you are a member of the Armed Forces or a dependent
the loan current. loan, you agree to pay the costs of the suit and the costs of collection of such a member covered by the federal Military Lending Act. If
If a payment is less than the Minimum Payment Amount for all your (including the costs of outside collection agencies) and reasonable you would like more information about whether you are covered
loans serviced by us, it will be applied first to past due amounts, attorneys’ fees. Your agreement to pay these costs and fees is subject by the Military Lending Act, please contact us at 1-844-DFS-4MIL
starting with the most delinquent loan amount. Payments will then be to the Servicemembers Civil Relief Act and other applicable laws. (1-844-337-4645) or if you are calling from outside the U.S. at
applied toward the remaining Minimum Payment Amount. You will be in default for any of the following reasons: +1-801-451-3730.
1) if you do not make required payments by the end of the calendar
DSL PL 202105 - Vers-P012
Page 2 of 3
CLASS ACTION WAIVER. ARBITRATION MUST BE ON AN under this Loan Agreement. If you reject arbitration, neither you nor (accelerate) and notice that we have accelerated. This written loan
INDIVIDUAL BASIS. THIS MEANS NEITHER YOU NOR WE MAY we will be subject to the arbitration agreement for this Loan. Rejection agreement represents the final agreement between the parties and
JOIN OR CONSOLIDATE CLAIMS IN ARBITRATION BY OR AGAINST of arbitration for this Loan will not constitute rejection of any prior or may not be contradicted by evidence of prior, contemporaneous, or
OTHER BORROWERS, OR LITIGATE IN COURT, OR ARBITRATE ANY future arbitration agreement between you and us. subsequent oral agreements of the parties. There are no unwritten
CLAIMS AS A REPRESENTATIVE OR MEMBER OF A CLASS OR IN A Y. GOVERNING LAW: oral agreements between the parties.
PRIVATE ATTORNEY GENERAL CAPACITY. This Note and any Claim or dispute arising out of this Note will be 13) Virginia Borrowers: The Office of the Student Loan Ombudsman
The arbitrator may award injunctive relief only in favor of the governed by applicable United States federal law and, to the extent was established to provide timely assistance to any student loan
individual party seeking relief and only to the extent necessary state law applies, Delaware law, without regard to its conflict of law borrower of any student education loan in the Commonwealth of
to provide relief warranted by that party’s individual Claim. The rules. All other laws, including the privacy and other laws of other Virginia. You can contact the Student Loan Advocate at: Office of
arbitrator may not award class, representative or public injunctive countries and international bodies, are inapplicable. the Qualified Education Loan Ombudsman, State Council of Higher
relief. If a court decides that applicable law precludes enforcement Education for Virginia, James Monroe Building, 9th Floor, 101 N.
Z. STATE LAW NOTICES: 14th Street, Richmond, VA 23219 or studentloan@schev.edu.
of any of this paragraph’s limitations as to a particular Claim 1) California Residents: A married applicant may apply for a
for relief, then after all appeals from that decision have been 14) West Virginia Residents: Any provision in this Note authorizing
separate loan. A negative credit report reflecting on your credit may the holder of this Note to collect attorneys’ fees in the event of a
exhausted, that Claim (and only that Claim) must be severed from be submitted to a credit reporting agency if you fail to fulfill the terms
the arbitration and may be brought in court. Only a court, and not default are void if the party being sued for collection is a resident of
of this Note. the State of West Virginia.
an arbitrator, shall determine the validity, scope, and effect of the 2) Indiana and Maine Residents: The provisions of this Note
Class Action Waiver. 15) Wisconsin Residents: If you are a married Wisconsin resident,
regarding the payment of collection agency costs and court costs do your signature confirms that this loan obligation is being incurred in
2) Your Right to Go to Small Claims Court. We will not choose not apply to Indiana or Maine residents.
to arbitrate any individual Claim you bring in small claims court the interest of your marriage or family. No provision of any marital
3) Iowa and Kansas Residents: NOTICE TO CONSUMER: a) Do not property agreement (e.g., premarital agreement), unilateral statement
or your state’s equivalent court. However, if such a Claim is sign this agreement before you read it; b) You are entitled to a copy
transferred, removed, or appealed to a different court, we may under §766.59 of the Wisconsin Statutes, or court decree under
of this agreement; c) You may prepay the unpaid balance at any time §766.70 of the Wisconsin Statutes adversely affects our interest unless
then choose to arbitrate. without penalty and may be entitled to receive a refund of unearned
3) Governing Law and Rules. This arbitration agreement is governed we, prior to the time that the loan is approved, are furnished with a
finance charges in accordance with law. copy of the marital property agreement, a statement, or a decree or
by the Federal Arbitration Act (“FAA”). Arbitration must proceed 4) Maryland Residents: We elect Subtitle 10, Credit Grantor Closed-
only with the American Arbitration Association (“AAA”). The rules have actual knowledge of the adverse provision. If the loan for which
End Credit Provision to Title 12 of the Commercial Law Article of the you are applying is granted, you will notify us if you have a spouse
for the arbitration will be those in this arbitration agreement and the Annotated Code of Maryland, to govern this Note, only to the extent
procedures of the AAA, but the rules in this arbitration agreement will who needs to receive notification that credit has been extended to
not inconsistent with 12 U.S.C. § 1831d and related regulations you. Notwithstanding provisions to the contrary in Section R (DEFAULT
be followed if there is disagreement between the agreement and the and opinions.
AAA’s procedures. If the AAA’s procedures change after the Claim is – WHOLE LOAN DUE) of this Note, you will be in default hereunder
5) Massachusetts Residents: Massachusetts law prohibits only: a) if the interval between scheduled payments is 2 months or
filed, the procedures in effect when the Claim is filed will apply. discrimination based on marital status, or sexual orientation as well
For a copy of the AAA’s procedures, to file a Claim, or for other less, and you permit to be outstanding an amount exceeding 1 full
as gender identity. payment that has remained unpaid for more than 10 days after its
information, please contact the AAA at 1101 Laurel Oak Road,
6) Missouri Residents: Oral agreements or commitments scheduled due date or deferred due date, or you fail to pay the first
Voorhees, NH 08043, www.adr.org, phone: 1-877-495-4185.
If the AAA is completely unavailable, and if you and we cannot
to loan money, extend credit, or to forbear from payment or the last payment within 40 days of its scheduled due
enforcing repayment of a debt, including promises date or deferred due date; or b) if the interval between scheduled
agree on a substitute, then either you or we may request that a court payments is more than 2 months, and you permit to be outstanding
with jurisdiction appoint a substitute. to extend or renew such debts, are not enforceable. all or any part of 1 scheduled payment that has remained unpaid for
4) Fees and Costs. If you wish to begin arbitration against us but you To protect you (borrower(s)) and us (creditor) from more than 60 days after its scheduled due date or deferred due date.
cannot afford to pay the AAA’s or arbitrator’s costs, we will advance misunderstanding or disappointment, any agreements You will also be in default if you fail to observe any other provision of
those costs if you ask us in writing. Any request like this should be sent this Note, the breach of which materially impairs your ability to pay
to Discover Student Loans, PO Box 30421, Salt Lake City, UT 84130- we reach covering such matters are contained in this
the amounts due under this Note.
0421. If you lose the arbitration, the arbitrator will decide whether you writing, which is the complete and exclusive statement 16) Utah Residents: As required by Utah law, you are hereby notified
must reimburse us for money we advanced for you for the arbitration. of the agreement between us, except as we may later that a negative consumer credit report reflecting on your credit record
If you win the arbitration, we will not ask for reimbursement of money modify it in writing. may be submitted to a consumer credit reporting agency if you fail to
we advanced. Additionally, if you win the arbitration, the arbitrator 7) New Hampshire Residents: If we refer this Note to an attorney fulfill the terms of your credit obligations.
may decide that you are entitled to be reimbursed your reasonable for collection, you agree to pay our reasonable attorneys’ fees.
attorneys’ fees and costs (if actually paid by you). AA. CORRECTION OF ERRORS:
However, if you prevail in a) any action, suit, or proceeding we All parties to this Note agree to fully cooperate and adjust all
5) Hearings and Decisions. Arbitration hearings will take place in bring, or b) an action brought by you in connection with this Note, or
the federal judicial district where you live. A single arbitrator will be typographical, computer, calculation, or clerical errors discovered
if you successfully assert a partial defense or setoff, recoupment, or in any or all of the loan documents, including this Note and the Final
appointed. The arbitrator must: counterclaim to an action brought by us, the court may withhold from
• Follow all applicable substantive law, except when contradicted Disclosure.
us the entire amount or such portion of the attorneys’ fees as the court
by the FAA considers equitable. BB. EFFECT OF PARTIAL INVALIDITY:
• Follow applicable statutes of limitations 8) New Jersey Residents: This Note applies to residents of multiple If any provisions of this Note are rendered invalid or unenforceable,
• Honor valid claims of privilege states, and certain provisions may be void, unenforceable or those provisions shall be considered omitted from this Note without
• Issue a written decision including the reasons for the award inapplicable to residents in states other than New Jersey. None of affecting the validity or enforceability of the remaining provisions of
The arbitrator’s decision will be final and binding except for any these provisions are void, unenforceable or inapplicable to New this Note.
review allowed by the FAA. However, if more than $100,000 was Jersey residents, except that, if you reside in New Jersey, any CC. OTHER IMPORTANT TERMS:
genuinely in dispute, then either you or we may choose to appeal to collection fees imposed upon default are limited to 20% of the 1) Signatures: This Note will be effective and enforceable when
a new panel of three arbitrators. The appellate panel is completely principal balance and interest outstanding. Please let us know how you affix your signature to the Application and Promissory Note (or
free to accept or reject the entire original award or any part of it. The you would like us to apply a payment that is in excess of the monthly the Cosigner Addendum, as the case may be) and deliver it to us.
appeal must be filed with the AAA not later than 30 days after the amount due on your Loan(s). A facsimile, electronic, or scanned copy of your signature that you
original award issues. The appealing party pays all appellate costs 9) New York Residents: A consumer credit report may be ordered deliver to us by any means acceptable to us will be deemed an
unless the appellate panel determines otherwise as part of its award. on you in connection with your application for credit. If you ask, original. If you submit your Application electronically, clicking “E-sign
Any arbitration award may be enforced (such as through a judgment) we will tell you whether or not one was ordered and if one was, Now” or its equivalent (such as “I accept” or “I approve”) will be
in any court with jurisdiction. the name and address of the consumer credit reporting agency that deemed your original signature and delivery to us.
6) Other Beneficiaries of this Arbitration Agreement. In addition provided it. Subsequent consumer credit reports may be requested 2) Rewards and Other Options: From time to time we may offer
to you and us, the rights and duties described in this arbitration or used in connection with an update, renewal, or extension of the rewards and benefits for which you may become eligible as a
agreement apply to: our Affiliates and our and their officers, directors, credit applied for without further notice to you. Please let us know Borrower. In the event you are eligible and are accepted by us to
and employees and any third party co-defendant of a Claim subject how you would like us to apply a payment that is different from the participate in any such program, you agree to abide by applicable
to this arbitration agreement. monthly amount due on your loan(s). terms and conditions as may be published by us, including any
7) Survival of this Arbitration Agreement. This arbitration agreement 10) Ohio Residents: The Ohio laws against discrimination require amendments to those terms and conditions.
shall survive: that all creditors make credit equally available to all credit-worthy 3) Non-negotiable: This is a non-negotiable consumer credit
• Termination of your Loan customers and that consumer credit reporting agencies maintain agreement.
• Voluntary payment of your Loan in full or in part separate credit histories on each individual upon request. The Ohio
• Any legal proceedings to collect money you owe Civil Rights Commission administers compliance with this law. Certification: In addition to any certification you make in the
• Any bankruptcy by you 11) Rhode Island and Vermont Residents: A consumer credit report application, you certify that your loan and all of the loan
• Any sale by us of your Loan may be ordered on you in connection with your application for credit. proceeds are used solely to pay for Qualified Higher Education
8) You Have the Right to Reject Arbitration for this Loan. You may If you ask, we will tell you whether or not one was ordered and if Expenses. These expenses are the costs of attending an eligible
reject the arbitration agreement but only if we receive from you a one was, the name and address of the consumer credit reporting educational institution, including graduate school, on at least
written notice of rejection within 30 days after consummation of your agency that provided it. Subsequent consumer credit reports may a half-time basis. Generally, these costs include tuition and
Loan. You must send the notice of rejection to: Discover Student Loans, be requested or used in connection with an update, renewal or certain related expenses.
PO Box 30938, Salt Lake City, UT 84130-0938. Your rejection notice extension of the credit applied for without further notice to you.
must include your name, address, phone number, Loan number, and 12) Texas Residents: You give up (waive) your common law rights See Internal Revenue Service (IRS) Publication 970, IRS Form
personal signature. No one else may sign the rejection notice for you. to receive notice of intent to accelerate and notice of acceleration. W-9S instructions, related guidance or seek professional tax
Your rejection notice must not be sent with any other correspondence. This means that you give up the right to receive notice that we intend advice for more information. Signing the Application and
Rejection of arbitration will not affect your other rights or responsibilities to demand that you pay all that you owe on this contract at once Promissory Note will be your certification for IRS purposes.

DSL PL 202105 - Vers-P012

Page 3 of 3
 WHAT DOES DISCOVER BANK
FACTS DO WITH YOUR PERSONAL INFORMATION? Rev. 6/21

Why? Financial companies choose how they share your personal information. Federal law gives consumers
the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share,
and protect your personal information. Please read this notice carefully to understand what we do.

What? The types of personal information we collect and share depend on the product or service you have with us.
This information can include:
■ Social Security number and income
■ account balances and payment history
■ transaction history and credit history

How? All financial companies need to share customers’ personal information to run their everyday business. In
the section below, we list the reasons financial companies can share their customers’ personal information;
the reasons Discover Bank chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information Does Discover Can you limit this
Bank share? sharing?

For our everyday business purposes—

such as to process your transactions, maintain your account(s), respond Yes No
to court orders and legal investigations, or report to credit bureaus
For our marketing purposes—
Yes No
to offer our products and services to you
For joint marketing with other financial companies Yes No
For our affiliates’ everyday business purposes—
Yes No
information about your transactions and experiences
For our affiliates’ everyday business purposes—
Yes Yes
information about your creditworthiness
For our affiliates to market to you Yes Yes
For nonaffiliates to market to you No We don’t share

To limit ■ Call 1-800-STUDENT (1-800-788-3368) — our menu will prompt you through your choices
our sharing Please note:
If you are a new customer, we can begin sharing your information 30 days from the date we
sent this notice. When you are no longer our customer, we continue to share your information as
described in this notice.
However, you can contact us at any time to limit our sharing.

Questions? Call 1-800-STUDENT (1-800-788-3368).

Discover Bank, Member FDIC

 Page 2
Who we are
Who is providing this notice? This privacy policy is being provided by Discover Bank and applies to all of
your student loans that are originated or serviced by Discover.

What we do
How does Discover Bank protect To protect your personal information from unauthorized access and use, we
my personal information? use security measures that comply with federal law. These measures include
computer safeguards and secured files and buildings.

How does Discover Bank collect We collect your personal information, for example, when you
my personal information? ■ open an account or apply for a loan
■ give us your contact information or pay your bills
■ provide employment information
We also collect your personal information from others, such as credit bureaus,
affiliates, or other companies.

Why can’t I limit all sharing? Federal law gives you the right to limit only
■ s haring for affiliates’ everyday business purposes—information about
your creditworthiness
■ affiliates from using your information to market to you
■ sharing for nonaffiliates to market to you
State laws and individual companies may give you additional rights to limit
sharing. See below for more on your rights under state law.

What happens when I limit sharing for an Your choices will apply to you individually. Borrower and cosigners (if any)
account I hold jointly with someone else? can limit sharing independently of each other, or on behalf of each other.

Definitions
Affiliates Companies related by common ownership or control. They can be financial
and nonfinancial companies.
■ o
 ur affiliates include companies with a Discover or DFS name and
financial companies such as Diners Club International Ltd.; PULSE
Network LLC; The Student Loan Corporation; and GTC Insurance
Agency, Inc.

Nonaffiliates Companies not related by common ownership or control. They can be

financial and nonfinancial companies.
■ nonaffiliates we share with can include service providers

Joint marketing A formal agreement between nonaffiliated financial companies that

together market financial products or services to you.
■ o
 ur joint marketing partners can include institutions such as
insurance companies

Other important information

Vermont Residents—We will not disclose information about your creditworthiness to our affiliates and will not disclose your
personal information, financial information, credit report, or health information to nonaffiliated third parties to market to you,
other than as permitted by Vermont law, unless you authorize us to make those disclosures. Find additional information about
our privacy policies at www.discover.com/privacy-statement or by calling 1-800-STUDENT.
California Residents—Except as permitted by law, we will not share information we collect about you with nonaffiliates or joint
marketing partners while you are a resident of California.
Nevada Residents—You may call 1-800-STUDENT to be placed on our Do Not Call List. For more information, mail Discover
Student Loans, P.O. Box 30948, Salt Lake City, UT 84130, or visit DiscoverStudentLoans.com. You may also contact the Bureau
of Consumer Protection, Office of the Nevada Attorney General, 555 E. Washington Ave., Suite 3900, Las Vegas, NV 89101,
call 1-702-486-3132, or email BCPINFO@ag.state.nv.us. This notice is provided pursuant to state law.

SL.PRV.LIN.0621
Discover Bank, Member FDIC