Personal Private Student Loan Agreement Form
- This Loan Agreement (hereinafter referred to as the “Agreement”) is entered into on
- ________________ (the “Effective Date”), by and between ________________________, with an
- address of ________________ (hereinafter referred to as the “Borrower”), and ________________,
- with an address of ________________ (hereinafter referred to as the “Lender”) (collectively
- to as the “Parties”).
PURPOSE OF LOAN____________________________________
- The Parties agree that the loan information set below is accurate.
- Start Date of the First Payment: ___________________________
- End Date of the Last Payment:____________________________
- Loan Amount:_________________________
- Interest Rate:__________________________
- Late Fee:_____________________________
- Payment Method:_______________________
- Hereby, the Parties agree that the Lender will lend ___________ to the Borrower as per this Agreement.
- Hereby, the Parties agree that the date of the First Payment is ___________ and will continue until the date of the Last Payment, which is _____________.
- The Payment is due every _________________.The method of payment will be __________________________________.
PROMISE TO PAY
- The Parties hereby agree that the Borrower promises to pay the Lender ____________ and the interest within _____________.
- The Parties agree that any late payment of _____________ days will be subject to ________________ as late charges.
- This Agreement will be regarded as default in case the Borrower does not pay by the due date, his/her death, bankruptcy and/or inability to pay.
- The Parties agree that for the sake of protection of the Lender, the Borrower will provide the following security interest and/or mortgage.
- The Parties agree that any amendments made to this Agreement must be in writing where they must be signed by both Parties to this Agreement.
- As such, any amendments made by the Parties will be applied to this Agreement.
- The Parties hereby agree not to assign any of the responsibilities in this Agreement to a third party unless consented to by both Parties in writing.
- This Agreement shall be governed by and construed in accordance with the laws of ________________.
ALTERNATIVE DISPUTE RESOLUTION
- Any dispute or difference whatsoever arising out of or in connection with this Agreement shall be submitted to ________________ (Arbitration/mediation/negotiation) (Circle one) in accordance with, and subject to the laws of ________________.
- This Agreement contains the entire agreement and understanding among the Parties hereto with respect to the subject matter hereof, and supersedes all prior agreements, understandings, inducements and conditions, express or implied, oral or written, of any nature whatsoever with respect to the subject matter hereof. The express terms hereof control and supersede any course of performance and/or usage of the trade inconsistent with any of the terms hereof.
- The Parties agree that this Agreement is not transferable unless a written consent is provided by both Parties of this Agreement.
- In an event where any provision of this Agreement is found to be void and unenforceable by a court of competent jurisdiction, then the remaining provisions will remain to be enforced in accordance with the Parties’ intention.
SIGNATURE AND DATE
- The Parties hereby agree to the terms and conditions set forth in this Agreement and such is demonstrated throughout by their signatures below:
This form was created on September 25, 2022
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