Northwest Education Loan Association

“(1) Directors normally attend 3-4 Board meetings and 3-4 Committee meetings per year in addition to telephonic conferences and individual meetings with Officers. Directors devote an average of 1 hour per week to their position(s). (2) Inside directors are not eligible for Board compensation. (3) Non-operating officer position not separately compensated.”

“As the sole member, United Student Aid Funds, Inc. retains all voting rights and powers with respect to any matters on which member action is required or otherwise taken.”

“On an annual basis, the Chairman of the Board, President and CEO, the Audit Committee and Board review the Form 990 prior to filing. The conflicts of interest questionnaires are completed by each Director and reviewed prior to filing the Form 990.”

“Annually, Directors and Officers sign a conflict of interest document which discloses any conflicts. The signed documents are reviewed annually by the Chairman of the Board. If a disclosed conflict occurs, the individual abstains from discussion and voting on topics where a conflict of interest exists. All Directors, Officers and employees are subject to the human resources code of ethics to maintain the highest ethical and legal standards of business conduct.”

“Federal tax law does not require such documents be made publically available. Documents are available upon specific request.”

“Compensation determinations of Northwest Education Loan Association's CEO and the other officers for calendar year 2018 were made by a compensation committee of the Board of Trustees of Ascendium Education Group, Inc. whose members have no conflict of interest within the meaning of Treas. Reg. 53.4958-6(C)(1)(III). The compensation committee establishes the compensation philosophy, and with comparability data provided by an independent compensation consultant, annually, evaluates the performance of the CEO and all other officers, and determines in advance, the reasonableness of compensation paid to and benefits provided to such individuals. The determinations made and the basis of such determinations are contemporaneously documented in written minutes. Final determinations are reported to the full Board of Trustees.”

“(1) Directors normally attend 3-4 Board meetings and 3-4 Committee meetings per year in addition to telephonic conferences and individual meetings with Officers. Directors devote an average of 1 hour per week to their position(s). (2) Inside directors are not eligible for Board compensation. (3) Non-operating officer position not separately compensated.”

“The change in net assets in the amount of 3,986,434 was due to Northwest Education Loan Association, an entity organized under the laws of the State of Washington, dissolved effective December 31, 2018 into its sole owner United Student Aid Funds, Inc.”