University of Phoenix Financial Aid Office 6501 North Broadway Extension Oklahoma City, OK 73116

Date: 11/15/11

Zanetta R Eave-barnett 2502 N Rockwell Ave Apt 104 Bethany, OK 73008

IRN: 9039798425 Campus: Oklahoma - Main 2012 Award Year

Dear Zanetta, We are pleased to present your eligibility to receive $1,350.00 in total federal grants. Please refer to the table below for details of this award: Financial Aid Award Academic Year Starting: 12/05/2011 Federal Grant(s) PELL Total Federal Grant(s) Total Award(s) Amount $1,350.00 $1,350.00 Credits Needed to Complete 12 Anticipated Date* Total 15-DEC-2011 $1,350.00 $1,350.00 $1,350.00

* Financial aid disbursement dates provided are estimates. Any changes and/or breaks in attendance or failure to start class as scheduled, may change the dates provided and/or prevent your federal financial aid funds from being disbursed. Actual dates are determined by your eligibility at time of disbursement. Changes to the anticipated disbursement dates may be caused by, but not limited to: - Changes to your course schedule - Changes in program of study - Unsuccessful course completion - Satisfactory Academic Progress (SAP) - Lender processing times Your second disbursement date is determined by : - Successful completion of minimum required credits and weeks of instructional time within the first disbursement period - Attendance in the first course of the second disbursement period

FAN

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IRN: 9039798425 Frequently Asked Questions How will I know when my financial aid award funds are in? If you meet all eligibility criteria and authorized the University to apply funds to your University account, funds will be applied 1. To your current open-tuition and other charges and fees. 2. To estimated future charges for the disbursement period 3. To open prior period charges. If you did not authorize the University to retain funds, only current open-tuition and fee charges for the current period will be withheld. If you are eligible to receive any remaining funds, a credit balance check will be sent to you in accordance with your Credit Balance Delivery option approximately 14 days after the funds are disbursed to your account. When can I expect the financial aid award funds on my student account? After eligibility for the disbursement is confirmed, funds post to your student account within 14 business days. What is a credit balance? The amount of funds on a student account when the total financial aid award amount exceeds the allowable direct cost, including tuition and course materials fees. If eligible, when will I receive my credit balance? After the disbursement posts to your student account, any credit balance will be sent to you within five business days, but no more than 14 days from the date of the disbursement posting. What are the current Direct Loan interest rates? Interest rates for Direct Subsidized Loans and Unsubsidized Loans for graduate and undergraduate borrowers first disbursed on or after July 1, 2006 have a fixed interest rate of 6.8%. Interest rates for Direct Subsidized Loans for graduate borrowers first disbursed on or after July 1, 2006 have a fixed rate of 6.8%. Interest rates for Direct Subsidized Loans for undergraduate borrowers have a fixed interest rate as follows: - If first disbursed on or after July 1, 2006 and prior to July 1, 2008 - 6.8%. - If first disbursed on or after July 1, 2008 and prior to July 1, 2009 - 6.0%. - If first disbursed on or after July 1, 2009 and prior to July 1, 2010 - 5.6%. - If first disbursed on or after July 1, 2010 and prior to July 1, 2011 - 4.5%. - If first disbursed on or after July 1, 2011 and prior to July 1, 2012 - 3.4%. - If first disbursed on or after July 1, 2012 - 6.8%. Interest rates for Direct PLUS Loans first disbursed on or after July 1, 2006 have a fixed interest rate of 7.9%.

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For questions regarding your Financial Aid Award, please contact your Finance Services Representative.

IRN: 9039798425 Financial Aid Award Glossary of Terms Academic Year An academic year is defined as the period of time in which a student completes at least 24 credit hours and 30 weeks of instructional time. Therefore, students may have their eligibility assessed for grants and/or loans several times during their program of study. Direct Loans Direct Loans include subsidized and unsubsidized Direct Stafford Loans (also known as Direct Subsidized Loans and Direct Unsubsidized Loans), Direct PLUS Loans, and Direct Consolidation Loans. These loans are paid directly to the U.S. Department of Education. Please refer to the Frequently Asked Questions for Direct Loan interest rates. Disbursement The release of financial aid funds to a student account Federal Pell Grant A federal grant program for postsecondary students with financial need who have not yet received a baccalaureate or first professional degree; administered by the U.S. Department of Education. Financial Aid General term describing any source of student financial assistance, outside the student or the student's family, awarded to a student to help meet postsecondary educational expenses. These funds are generally awarded based on financial need and include scholarships, grants and loans. Instructional Time A week of instructional time is defined as any consecutive seven-day period in which at least one day of regularly scheduled instruction occurs. Satisfactory Academic Progress (SAP) A federal regulation for federal financial aid recipients assessed in two components: (1) grade point average (GPA) and (2) the maximum period to complete the educational program of study. A student must maintain SAP to continue receiving federal financial aid. Please refer to the Student Catalog and Consumer Information Guide for additional details. Subsidized Loan A loan on which the government pays the interest while a student is enrolled in school, during the six-month grace period and during any deferment periods. The federal government subsidizes the interest during these periods. A subsidized loan is awarded based on financial need. Unsubsidized Loan A loan for which the government does not pay the interest. The borrower is responsible for the interest on an unsubsidized loan from the date the loan is disbursed, even while the student is still in school. Students may avoid paying the interest while in school by capitalizing the interest, which increases the principal loan amount. An unsubsidized loan is not awarded based on need. Students can choose to pay the interest as it accumulates.

Please refer to the Consumer Information Guide for additional information: http://www.phoenix.edu

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For questions regarding your Financial Aid Award, please contact your Finance Services Representative.