PNC STUDENT LENDING

SECOND QUARTER 2019

HELPING STUDENTS PREPARE TODAY.

FOR TOMORROW.

NOTE: PNC RESERVES THE RIGHT TO MODIFY, EXPAND OR DISCONTINUE THE TERMS OF THESE PROGRAMS AT ANY TIME. FOR INTERNAL USE ONLY. NOT FOR DISTRIBUTION.

HELPING STUDENTS TAKE THE NEXT STEPFor over half a century, PNC has been helping students and their families afford the costs of higher education. Our team of experienced professionals work to exceed our customers’ expectations through personalized, quality service. We’re committed to continuous improvement of the Student Loan Center through training, personal development and teamwork.

CampusDoor, our loan originator, brings years of experience in education finance, information technology and financial services.

F U N D A M E N T A L V A L U E S

COMPETITIVE PRODUCTS AND PRICING

We offer loan solutions for students in undergraduate, graduate, health profession and bar study programs. Borrowers can also choose a variable or a fixed interest rate.

CONVENIENT APPLICATION PROCESS

Borrowers may apply online 24 hours a day or by phone during regular business hours. Upon submission of the application, borrowers will receive a preliminary credit decision. The borrower will only need to submit one application to be presented both a variable and a fixed rate option.

DEDICATED STAFF

PNC maintains a highly effective customer service department that has an average of 7 years of experience in education lending. We also work with CampusDoor and AES to provide efficient, streamlined processes for students and schools.

INNOVATIVE FINANCIAL LITERACY TOOLS

Our web-based financial literacy tools offer a holistic approach to helping students create a financial plan, from the time they enter college through repayment.

C O N N E C T I N G S T U D E N T S T O S M A R T E D U C A T I O N F I N A N C I N G S O L U T I O N S

PNC continually invests in enhancing our education lending process by:

° Making customer service more personal

° Offering loan education tools that help students and families make financial decisions

We’re committed to combining the right financing with the financial tools, resources and education our customers need.

Our long-term servicing relationship with American Education Services (AES) and our ability to adapt to the ever-changing student loan industry keep us among the top education loan providers in the country.

PNC STUDENT LOAN CENTER

pnconcampus.com

1-800-762-1001M-F 8 a.m. to 5 p.m. EST

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NOTE: PNC RESERVES THE RIGHT TO MODIFY, EXPAND OR DISCONTINUE THE TERMS OF THESE PROGRAMS AT ANY TIME. FOR INTERNAL USE ONLY. NOT FOR DISTRIBUTION.

www.pnconcampus.com 24 hours a day

HELPING STUDENTS TAKE THE NEXT STEP

LOANS FOR UNDERGRADS, GRADS, HEALTH PROFESSIONS AND BAR STUDY

The PNC Solution Loan® is a private student loan that can provide creditworthy students and/or cosigners the funds to finance a college education.

ELIGIBILITY

All borrowers and/or cosigners (if any) must:

° Be U.S. citizens or permanent residents

° Have lived in the U.S. for the previous two years

° Meet the credit guidelines listed below

Please note: A creditworthy cosigner is typically required for undergraduate students; a creditworthy cosigner is required for 17-year-old students.

CREDIT GUIDELINES

All borrowers and cosigners (if any) must:

° Have two years of satisfactory credit history and two years of continuous income and/or employment history

° Have proof of current income

° If self-employed, have been in business for

at least two years

° Meet debt-to-income requirements

BORROWERS WHO HAVE EXHAUSTED ALL OF THEIR FEDERAL LOAN OPTIONS CAN APPLY AT THEIR CONVENIENCE:° Online: ° By phone:

1-800-762-1001M–F 8 a.m. to 5 p.m. EST

Upon submission of the application, the borrower will provide the email address for the cosigner if applicable. An email containing an application ID number and link to apply will be sent to the cosigner for the cosigner to complete the cosigner application.

Should the borrower or cosigner be unable to complete an application for any reason, they will be provided with the application ID number to resume the application for up to 30 days.

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NOTE: PNC RESERVES THE RIGHT TO MODIFY, EXPAND OR DISCONTINUE THE TERMS OF THESE PROGRAMS AT ANY TIME. FOR INTERNAL USE ONLY. NOT FOR DISTRIBUTION.

HELPING STUDENTS TAKE THE NEXT STEP

PNC SOLUTION LOAN™ PRODUCT OVERVIEWPNC SOLUTION

LOAN FOR: Undergraduates GraduatesHealth & Medical Professions and

ResidencyBar Study

Enrollment At least half-time as determined by the school. No Satisfactory Academic Progress (SAP) requirements.

At least half-time or have graduated within the last 6 months. No SAP requirements.

Annual Limits$1,000 up to $40,000

$1,000 up to $65,000

$1,000 up to $65,000

Residency: $1,000 – $15,000

$1,000 up to $15,000

Current Variable and Fixed Interest Rates

Variable rate loan interest rates range from 5.30% to 11.30% APR (Rates include a 0.50% interest rate discount with automatic payments.1,3)

Fixed rate loan interest rates range from 5.79% to 11.79% APR (Rates include a 0.50% interest rate discount with automatic payments.1,3)

Grace Period 6 months

Repayment Options • Immediate Maximum 15-year repayment term

• Interest-Only $25 minimum payment per loan per month

• Fully Deferred2

Borrower Benefits • 0.50% interest rate reduction when borrower elects to have paymentsautomatically deducted from any checking or savings account3

° Cosigner release option: Borrower can apply for a cosigner release after 48 consecutive on-time monthly payments.

° In the event of a student borrower’s death, PNC will forgive any and all remaining loan balance regardless of repayment status. The cosigner, if any, will also be released in the event of the student borrower’s death

1 Variable interest rates are equal to the London Interbank Offered Rate (LIBOR) index plus a margin depending on the creditworthiness of the borrower and cosigner, if any. The LIBOR index, adjusted quarterly, is equal to the average of the one-month LIBOR rates as published in the “Money Rates” section of the Wall Street Journal on the first business day of each of the three (3) calendar months immediately preceding each quarterly adjustment date. The LIBOR index is currently 2.50%. Rates effective as of 4/1/19. Please call the Student Loan Center or visit pnconcampus.com for the most up-to-date rate information.

2 Interest will accumulate while the student is enrolled in school if payments are deferred. If not paid, the accumulated interest will be added to the principal at repayment.

3Interest rate discount: An interest rate reduction of 0.50% is available for automated payments once the borrower is no longer attending school on at least a half-time basis. The borrower must be making scheduled payments through loan servicer American Education Services (AES) that include both principal and interest from a checking or savings account. Interest only payments do not qualify for the 0.50% interest rate discount. The discount may be suspended during periods of forbearance. If the borrower voluntarily ceases automatic payments, the interest rate reduction will return to the non-discounted rate. The interest rate benefit can be regained if the borrower re-enrolls in automatic payments. The customer is disqualified from the 0.50% interest rate reduction program after three returned or insufficient payments within a twelve month period.

4Cosigner release: Once a borrower makes 48 consecutive on-time monthly payments and meets a creditworthiness test, the borrower may apply for a cosigner release. A request to release a cosigner requires that, as of the date of the request, the borrower has made at least 48 consecutive timely payments of principal and interest with no periods of forbearance or deferment within the 48 month time frame. “Timely payment” means each payment is made no later than the 15th day after the scheduled due date of the payment. "Consecutive payment” means the regularly scheduled monthly payment must be made for 48 months without interruption. To qualify for a cosigner release, the borrower must submit a request, meet the consecutive, timely payment requirements, provide proof of income and pass a credit check.

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NOTE: PNC RESERVES THE RIGHT TO MODIFY, EXPAND OR DISCONTINUE THE TERMS OF THESE PROGRAMS AT ANY TIME. FOR

INTERNAL USE ONLY. NOT FOR DISTRIBUTION.

HELPING STUDENTS TAKE THE NEXT STEP

SIMPLE, CONVENIENT APPLICATION PROCESS

Students and cosigners can apply for a PNC Solution Loan 24 hours a day via the “Apply Now” button on our home page (www.pnconcampus.com). Information is displayed for all five loan types, so applicants can choose the product that best suits their needs. They can also apply by calling 1-800-762-1001 during regular business hours.

Once the application is submitted, a credit check is performed. If the loan is credit-approved, a Preliminary Interest Rate Notification (PIRN) is presented. The PIRN indicates the interest rates they will qualify for if they complete the application process. This resource is to help the applicant(s) make an informed decision. They may use this PIRN to compare loan terms to find the loan that best fits their needs. If the loan application is denied, applicant(s) will be notified regarding the reasons for denial. The PIRN is available upon request.

Applicants can view their application status by logging into their online account. A timeline shows the applicant(s) a list of key steps prior to loan disbursement.

5 NOTE: PNC RESERVES THE RIGHT TO MODIFY, EXPAND OR DISCONTINUE THE TERMS OF THESE PROGRAMS AT ANY TIME. FOR INTERNAL USE ONLY. NOT FOR DISTRIBUTION.

Submit Application

Step 3: Offer Acceptance

Step 4: Loan

Documentation

Step 5: Enrollment

Certification

Step 6: Revised Offer (where applicable)

Acceptance

Step 7: Final Disclosure Receipt

Step 8: Partially Disbursed

Step 9:

Fully

Disbursed

Step 2: Decision Pending Income

Step 1:

HELPING STUDENTS TAKE THE NEXT STEP

KEY STEPS IN THE APPLICATION PROCESS

1 The borrower and cosigner (if applicable) begin the application process and review the Application and Solicitation Disclosure. They click the “Submit” button to continue the application. If credit is approved, a Preliminary Interest Rate Notification (PIRN) is presented along with a checklist indicating the documentation needed to complete the application process.

2 Once all documentation is received (e.g., proof of income, proof of employment, etc.), an Approval Disclosure is sent to the borrower and cosigner (if applicable) via their preferred communication method.

The Approval Disclosure must be accepted within 30 days by the borrower and cosigner (if applicable) in one of two ways:

° Online — Upon receipt of the conditional approval, view the Approval Disclosure and click on the appropriate box to accept or decline the loan terms.

° Telephone — Accept he loan terms by speaking to a customer service representative at 1-800-762-1001.

3 Borrower(s) choose to eSign, fax or upload the Credit Agreement, “Self Certification” form and any necessary verification documents.

4 Financial Aid Office: School certification is sent to your office after the receipt of the signed Credit Agreement and all supporting documents (e.g., proof of income, proof of employment, Self Certification Form, Acceptance of Approval Disclosure, etc.). All of PNC’s Solution Loan Products require school certification and/or enrollment certification except for the health profession residency loan. Options to certify include:° ELM

° ScholarNet®

° eCourier

° CampusDoor Campus Connections

° CampusDoor can fax a certification form

5 The Final Disclosure is mailed to the borrower and cosigner (If applicable) within one business day of being certified by the school. Upon receipt of the Final Disclosure, the borrower(s) will be allotted a three-day “Right to Cancel” period prior to the funding of the loan. “Right to Cancel” request may be submitted in writing or electronically.

6 Financial Aid Office: Disbursement of funds is scheduled after the Final Disclosure is sent. PNC Solution Loan funds will be disbursed no earlier than seven calendar days after the receipt of the Final Disclosure to allow for the expiration of the three-day receipt period and the three-day “Right to Cancel” period.

7 Financial Aid Office: PNC Solution Loan funds are disbursed to the school via your preferred method:

° Electronic funds transfer (EFT)

° Paper check

° Great Lakes CDS

° ELM National Disbursement Network (NDN)

° Sallie Mae CDS

Exception: Bar study and health professions residency funds are payable to the borrower only in one disbursement.

6 NOTE: PNC RESERVES THE RIGHT TO MODIFY, EXPAND OR DISCONTINUE THE TERMS OF THESE PROGRAMS AT ANY TIME. FOR INTERNAL USE ONLY. NOT FOR DISTRIBUTION.

HELPING STUDENTS TAKE THE NEXT STEP

PROVIDING A POSITIVE CUSTOMER EXPERIENCE

D E D I C A T E D S E R V I C E F O R B O R R O W E R S A N D S C H O O L S

CUSTOMER SERVICE IS A CRITICAL PNC VALUE

The PNC Student Loan Center has a highly trained and experienced customer service staff, whose only responsibility is serving education loan customers. We offer schools and borrowers full service from application through repayment.

Our focus on key service metrics ensures all encounters are personal and solution-centric:

Service Levels All calls are promptly answered by a live customer service consultant. Our 2018 average speed-to-answer was 10.9 seconds.

Accuracy Our customer service team strives to provide personalized, consistent and accurate account information to each and every school and borrower.

Completeness Our customer service team members act, taking ownership of any caller issues and striving for resolution during the initial call. If more research time is needed, a response will be provided within two business days.

Experience Our customer service team receives ongoing training in all aspects of customer service and the borrowing process, delivering a better borrower experience. Calls are recorded and continually monitored for training purposes.

Response Times All voicemails and emails are answered within one business day.

LIVE CHAT OPTION

As another convenient contact method, the PNC Student Loan Center offers a live chat capability through our website, www.pnconcampus.com.

Customers simply click on the “NEED HELP” link on the right side of the screen to connect with an student lending specialist. All chats are conducted on a secure network to safeguard personal customer information.

7 NOTE: PNC RESERVES THE RIGHT TO MODIFY, EXPAND OR DISCONTINUE THE TERMS OF THESE PROGRAMS AT ANY TIME. FOR INTERNAL USE ONLY. NOT FOR DISTRIBUTION.

HELPING STUDENTS TAKE THE NEXT STEP

PARTNERSHIPS FOR QUALITY SERVICE

D E D I C A T E D S E R V I C E F O R B O R R O W E R S A N D S C H O O L S

WORKING TOGETHER TO SERVE STUDENTS

Each school is assigned a dedicated PNC Campus Relationship Manager with an average of 25 years experience in the financial aid industry. They can provide up-to-date product information, training, information on industry trends, legislative updates and resolution of any loan-related issues.

For schools with questions regarding a specific borrower or loan account, Priority Service Representative Tejuan Smith is available Monday–Friday from 8:15 a.m. to 5:00 p.m. EST at 1-800-762-1001 ext. 431, or at tejuan.smith@pnc.com.

LIFE OF LOAN SERVICING

PNC does not currently sell our private loans to third parties. We work with CampusDoor for origination and with American Education Services (AES) for servicing the PNC Solution Loan; they share our high standards for service and knowledge. CampusDoor is a leader in developing ways to ease the application process while streamlining processing efforts by interfacing with prominent platforms such as ELM, OpenNet® and ScholarNet®.

INFORMATION WHEN YOUR STUDENTS NEED IT

PNC understands the importance of borrowers having access to information when they need it.

Once borrowers start an application, they can check the status 24/7 at www.pnconcampus.com by following the “Returning Applicants” link on the home page.

We offer 24/7 loan servicing information through our partner AES by phone or online.

Borrowers can access information such as:

° Loan status

° Interest accrual

° Account/payment history

° Outstanding balances

° Online payment portal

° Online customer service

PNC offers borrowers exemplary customer service continuing through repayment. Customers can always contact the PNC Student Loan Center through their preferred method:

° By phone

1-800-762-1001M–F 8 a.m. to 5 p.m. EST

° Online (Live Chat) www.pnconcampus.com

° By email eduloans@pncbank.com

° By mail:2600 Liberty Avenue Suite 200 Pittsburgh, PA 15222

Borrowers can also address servicing questions to American Education Services (AES):

° By phone

1-800-233-0557M–F 7:30 a.m.to 9 p.m. EST

° Online

www.aessuccess.org

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NOTE: PNC RESERVES THE RIGHT TO MODIFY, EXPAND OR DISCONTINUE THE TERMS OF THESE PROGRAMS AT ANY TIME. FOR INTERNAL USE ONLY. NOT FOR DISTRIBUTION.

HELPING STUDENTS TAKE THE NEXT STEP

FINANCIAL LITERACY & CRITICAL SUPPORT FOR THE FUTURE

B U I L D I N G A S T R O N G F O U N D A T I O N

At PNC, we believe that no student should leave school and go out into the world without a fundamental grasp of personal finance.

We offer students access to a range of financial tools because we feel strongly that understanding debt management and default prevention is good for borrowers, schools and lenders.

PNC also offers multimedia tutorials on a variety of financial topics at pnconcampus.com, where students will find resources and calculators along with two curriculum paths with multiple courses: “Paying for College” (a holistic understanding of the cost of college and applying for aid) and “Financial Literacy” (reducing overall college debt by making smart financial choices while in college). Students can either complete courses sequentially or view only those of interest. Registering with the site lets students customize tools and save their progress.

Schools can link directly to the site at pnc.financialliteracy101.org.

The primary goals of our financial literacy resources are:

° Promoting responsible borrowing, including federal borrowing first.

° Educating students on debt management and financial planning through interactive financial literacy tools.

Awareness is the first step in helping students. By promoting the use of these tools together, we can help them succeed.

D E F A U L T P R E V E N T I O N

To aid the borrower entering repayment, AES provides an early-awareness campaign 30–45 days prior to the loan entering repayment.

° Borrowers and cosigners are advised on their repayment obligations to increase financial awareness.

° Representatives offer solutions for borrowers who may be unable to make payments as scheduled, including Modified Graduated Repayment Schedule (MGRS) options.

° Forbearance requests are carefully evaluated and may be instituted as appropriate.

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NOTE: PNC RESERVES THE RIGHT TO MODIFY, EXPAND OR DISCONTINUE THE TERMS OF THESE PROGRAMS AT ANY TIME. FOR INTERNAL USE ONLY. NOT FOR DISTRIBUTION.

HELPING STUDENTS TAKE THE NEXT STEP

PNC EDUCATION REFINANCE LOAN

H E L P I N G B O R R O W E R S C O N S O L I D A T E L O A N S I N T O O N E M O N T H L Y P A Y M E N T

Borrowers can manage loan debt with the PNC Education Refinance Loan that lets qualified borrowers combine their higher-interest federal and/or private student loan debt into a single monthly payment.1

FEATURES AND BENEFITS:

° 0.50% interest rate reduction if monthly payments areautomatically deducted from checking or savings account.2

° Borrower can apply for a cosigner release after 48 consecutive on time payments3

° Financial independence by refinancing without a cosigner

° Outstanding debt forgiven upon death of borrower.

• Immediate repayment option only.

REQUIREMENTS:

To be eligible for our Education Refinance Loan, a borrower must:

° Have repayed federal and/or private student loans for at least 24 months.4

° Have a satisfactory credit profile.

° Be a U.S. citizen, permanent resident or resident alien with a valid U.S. Social Security number, residing in the U.S. for the previous two years.

° Have two years of continuous income or employment history.

10 ©2019 The PNC Financial Services Group, Inc. All rights reserved. PNC Bank, National Association. Member FDIC

1 Refinancing at a longer repayment term may lower the borrower’s monthly student loan payments, but may also increase the total interest paid over the life of the loan. Refinancing at a shorter repayment term may increase the borrower’s monthly student loan payments, but may lower the total interest paid over the life of the loan. For example, if the borrower has a 15-year loan that matures in 10 years and the borrower refinances for another 15 years at a lower rate, the borrower’s payments will be lower, but the borrower will pay interest for an additional 5 years. The borrower should contact us to discuss the option that best meets the borrower’s needs.

Certain Federal Benefits Will Be Lost or Not Available: By refinancing federal loans through this PNC Education Refinance Loan, the borrower will lose or not be able to select other payment plans available to federal student loan borrowers, such as income-contingent repayment or income-based repayment. In addition, federal student loans offer deferment, forbearance and loan forgiveness options that may not be available under a PNC Education Refinance Loan. The borrower should compare current benefits with this program to ensure any loss of existing benefits is fully understood.

2 Interest rate discount: During repayment, an interest rate reduction of 0.50% is available for automated payments. The borrower must be making scheduled payments through loan servicer American Education Services (AES) that include both principal and interest from a checking or savings account. If the borrower voluntarily ceases automatic payments, the interest rate reduction will return to the non-discounted rate. The interest rate benefit can be regained if the borrower re-enrolls in automatic payments. The customer is disqualified from the 0.50% interest rate reduction program after three returned or insufficient payments within a twelve month period.

3 Interest rate discount: An interest rate reduction of 0.50% is available for automated payments once the borrower is no longer attending school on at least a half-time basis. The borrower must be making scheduled payments through loan servicer American Education Services (AES) that include both principal and interest from a checking or savings account. Interest only payments do not qualify for the 0.50% interest rate discount. The discount may be suspended during periods of forbearance. If the borrower voluntarily ceases automatic payments, the interest rate reduction will return to the non-discounted rate. The interest rate benefit can be regained if the borrower re-enrolls in automatic payments. The customer is disqualified from the 0.50% interest rate reduction program after three returned or insufficient payments within a twelve month period.

4 Qualifying federal and private loans must have been used only for qualified higher education expenses at an accredited U.S. undergraduate or graduate school.

NOTE: PNC RESERVES THE RIGHT TO MODIFY, EXPAND OR DISCONTINUE THE TERMS OF THESE PROGRAMS AT ANY TIME. FOR INTERNAL USE ONLY. NOT FOR DISTRIBUTION.

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