Fillable Master Promissory Note Template Direct Plus Loans (Page 5 of 15) in pdf

IMPORTANT NOTICES

GRAMM-LEACH-BLILEY ACT NOTICE

guaranty agencies, to financial and educational institutions, or to state agencies.

To provide financial aid history information, disclosures may be made to

In 1999, Congress enacted the Gramm-Leach-Bliley Act (Public Law 106-102). This

educational institutions. To assist program administrators with tracking refunds

Act requires that lenders provide certain information to their customers regarding

and cancellations, disclosures may be made to guaranty agencies, to financial and

the collection and use of nonpublic personal information.

educational institutions, or to federal or state agencies. To provide a standardized

method for educational institutions to efficiently submit student enrollment status,

We disclose nonpublic personal information to third parties only as necessary to

disclosures may be made to guaranty agencies or to financial and educational

process and service your loan and as permitted by the Privacy Act of 1974. See the

Privacy Act Notice below. We do not sell or otherwise make available any

institutions. To counsel you in repayment efforts, disclosures may be made to

guaranty agencies, to financial and educational institutions, or to federal, state, or

information about you to any third parties for marketing purposes.

local agencies.

We protect the security and confidentiality of nonpublic personal information by

implementing the following policies and practices. All physical access to the sites

In the event of litigation, we may send records to the Department of Justice, a

where nonpublic personal information is maintained is controlled and monitored

court, adjudicative body, counsel, party, or witness if the disclosure is relevant and

by security personnel. Our computer systems offer a high degree of resistance to

necessary to the litigation. If this information, either alone or with other

tampering and circumvention. These systems limit data access to our staff and

information, indicates a potential violation of law, we may send it to the

contract staff on a “need-to-know” basis, and control individual users' ability to

appropriate authority for action. We may send information to members of

access and alter records within the systems. All users of these systems are given a

Congress if you ask them to help you with federal student aid questions. In

unique user ID with personal identifiers. All interactions by individual users with

circumstances involving employment complaints, grievances, or disciplinary

the systems are recorded.

actions, we may disclose relevant records to adjudicate or investigate the issues. If

PRIVACY ACT NOTICE

provided for by a collective bargaining agreement, we may disclose records to a

labor organization recognized under 5 U.S.C. Chapter 71. Disclosures may be made

The Privacy Act of 1974 (5 U.S.C. 552a) requires that the following notice be

to our contractors for the purpose of performing any programmatic function that

provided to you:

requires disclosure of records. Before making any such disclosure, we will require

The authority for collecting the requested information from and about you is §451

the contractor to maintain Privacy Act safeguards. Disclosures may also be made

et seq. of the Higher Education Act (HEA) of 1965, as amended (20 U.S.C. 1087a et

to qualified researchers under Privacy Act safeguards.

seq.) and the authorities for collecting and using your Social Security Number (SSN)

FINANCIAL PRIVACY ACT NOTICE

are §§428B(f) and 484(a)(4) of the HEA (20 U.S.C. 1078-2 (f) and 1091(a)(4)) and 31

Under the Right to Financial Privacy Act of 1978 (12 U.S.C. 3401-3421), ED will have

U.S.C. 7701(b). Participating in the William D. Ford Federal Direct Loan (Direct Loan)

access to financial records in your student loan file maintained in compliance with

Program and giving us your SSN are voluntary, but you must provide the

the administration of the Direct Loan Program.

requested information, including your SSN, to participate.

PAPERWORK REDUCTION NOTICE

The principal purposes for collecting the information on this form, including your

SSN, are to verify your identity, to determine your eligibility to receive a loan or a

According to the Paperwork Reduction Act of 1995, no persons are required to

benefit on a loan (such as a deferment, forbearance, discharge, or forgiveness)

respond to a collection of information unless such collection displays a valid OMB

under the Direct Loan Program, to permit the servicing of your loan(s), and, if it

control number. The valid OMB control number for this information collection is

becomes necessary, to locate you and to collect and report on your loan(s) if your

1845-0068. Public reporting burden for this collection of information is estimated

loan(s) become delinquent or in default. We also use your SSN as an account

to average 30 minutes (0.5 hours) per response, including time for reviewing

identifier and to permit you to access your account information electronically.

instructions, searching existing data sources, gathering and maintaining the data

needed, and completing and reviewing the collection of information. The

The information in your file may be disclosed, on a case by case basis or under a

obligation to respond to this collection is required to obtain a benefit in

computer matching program, to third parties as authorized under routine uses in

accordance with 34 CFR 685.201. If you have comments or concerns regarding the

the appropriate systems of records notices. The routine uses of this information

status of your individual submission of this form, write to:

include, but are not limited to, its disclosure to federal, state, or local agencies, to

private parties such as relatives, present and former employers, business and

U.S. Department of Education

Common Origination and Disbursement School Relations Center

personal associates, to consumer reporting agencies, to financial and educational

Attn: Student Loan Support

institutions, and to guaranty agencies in order to verify your identity, to determine

PO Box 9002

your eligibility to receive a loan or a benefit on a loan, to permit the servicing or

Niagara Falls, NY 14302

collection of your loan(s), to enforce the terms of the loan(s), to investigate

possible fraud and to verify compliance with federal student financial aid program

regulations, or to locate you if you become delinquent in your loan payments or if

you default. To provide default rate calculations, disclosures may be made to

Page 5 of 15

Master Promissory Note Template Direct Plus Loans Page 5

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