Examples of Approval Disclosure Statement in a sentence
When we approve your request to make a Loan we will send you an Approval Disclosure Statement.
Following your receipt of the Approval Disclosure Statement you will have 30 calendar days to accept the Loan.
If you do not accept the Loan offer by the date and by the method set forth on the Approval Disclosure Statement, your Application will be cancelled and we will not make the Loan to you.
Approval Disclosure Statement: The closed-end disclosure statement provided to us at the time that VSAC approves the Application, as required by the federal Truth-in-Lending Act.
Among other things, the Approval Disclosure Statement will tell you the total amount of your Loan, your interest rate and the amount of your Loan Origination Fee.
If the amount of the Loan is reduced because we have been notified that the cost of the Student Borrower’s attendance at the School has decreased or that other financial aid that you receive has increased, we may reduce the Loan amount without sending you a new Approval Disclosure Statement.
To accept the terms of the Loan offer, you must contact us by the date and by the method set forth on the Approval Disclosure Statement.
I understand that my choice of the Repayment Option will be made when I accept the terms of a Loan disclosed to me in the Approval Disclosure Statement and that my acceptance must be communicated to you in accordance with the instructions contained in the Approval Disclosure Statement.
The Interest Rate will be a fixed annual rate determined according to the loan program rules and as disclosed to the Borrower on the Approval Disclosure Statement and Final Disclosure Statement.