EXHIBIT 1

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EXHIBIT 2

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EXHIBIT 3

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EXHIBIT 4

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EXHIBIT 5

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EXHIBIT 6

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EXHIBIT 7

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EXHIBIT 8

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EXHIBIT 9

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EXHIBIT 10

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EXHIBIT 11

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EXHIBIT 12

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Students Initial:

INCOME SHARE AGREEMENT

STUDENT INSTITUTION ***THIS IS NOT

Sollers College

55 Parsonage Road

A LOAN

OR CREDIT***

Unit 1850, Edison, NJ

08837

ISA 

Amount

PARTICIPATION DISCLOSURE

Income

Share

Payment

Term

$12,500 10.00% 24 monthly payments

The market change for the 

educationalservices you will 

receive through this ISA, plus any

funding charges.

The percent of your total earned 

income (i.e. gross income) that you 

will share each month.

The maximum number of months 

during which you will share your 

income, excluding any deferment

periods.

ITEMIZED TOTAL ISA AMOUNT ABOUT YOUR CONTRACT TERMS

 

Amount paid to you $0

Amount credited to

• Sollers College +$12,500

Initial funding Charges

• Origination fee

• Disbursementfee

+$0

ISA Amount = $12,500

FEES: Late Fee - The lesser of 2% of the payment amount due.

Returned Payment Fee - $25.

Your income share is the percentage of your future earned 

income you will owe in return for the amount credited to your 

account. It is not an interest rate or annual percentage rate. 

Your income share is fixed. This means that it will never differ 

from the income share percentage shown above.

Your payments will vary based on your earned income. The 

total amount you will pay may be more or less than your ISA 

Amount.

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Students Initial:

Payment Illustration

An Income Share Agreement (ISA) is different from a loan (which has principal and interest 

payments) or a conventional tuition payment plan (which requires payment in full and may charge 

interest). An ISA requires you to pay a fixed percentage of your earned income (i.e. gross income) 

each month for a fixed period of time. The table below compares illustrative monthly and total 

ISA payments for different levels of average earned income.

About this Illustration 

The illustration assumes that you make 24 monthly

payments tied to earned income. If you return to

school or when your monthly earned income is less 

than $ 4,167 (equivalent to $ 50,000/year), your 

account will be placed in a deferment status, and 

you will not make payments for every month your 

income is below this threshold. If your cumulative 

payments reach the payment cap, then you will 

make no further payments, and your account will 

be closed in good standing. Your actual payments 

may be a blend of the payments displayed since 

your earnings may fluctuate over time. Remember 

that your earned income will depend on many 

factors, including your credentials, occupation, 

industry, and the area of the country in which you 

work. All payments have been rounded to the 

nearest dollar.

Next Steps & Terms of Acceptance

1. Questions?

Contact our team at isa.info@sollers.edu for more information.

2. You have fifteen (15) days to accept this offer.

The terms of this offer will not change except as required by

law. To accept the terms of this ISA, sign and date below.

Participation Disclosure Reference Notes

Income Share Agreement (ISA)

• An ISA is not a loan or other credit instrument. It represents your obligation to make payments 

linked to a specific percentage of your earned income and does not give us any rights regarding 

your educational, training, or employment pursuits.

Average

Annual

Earned

Income

10.00% income share,

24 monthly payments

 Average

Monthly

Payments

Total

Payments

$ 30,000 $ 0 $ 0

$ 50,000 $ 417 $ 10,000

$ 70,000 $ 583 $ 14,000

$ 90,000 $ 750 $ 18,000

$ 110,000 $ 917 $ 22,000

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Students Initial:

• The amount you will be required to pay under this ISA may be more or less than the ISA

amount credited to your account and will vary in proportion to your future earned income.

Eligibility Criteria

• You must be enrolled in the Information Technology program at Sollers College.

• You must be a U.S. citizen (includes naturalized citizens), permanent resident or legally 

authorized to work in the United States of America post completion of training.

• At the time of the application, you must be at least the age of majority for your state of 

residence.

• Your total obligations under all income-based agreements with us or another person must not 

require you to pay an aggregate income share in excess of twenty-five (25) percent of your 

earned income in any given month.

• Sollers holds right to reject any application at their sole discretion

Grace Period, Monthly Payments, Reconciliation, and Prepayment

• You will begin making payments on the first day of the month once you make a gross annual 

salary of $50,000 or higher, following a grace period of 1 months after you complete or 

withdraw from the program.

• Your monthly payments equal your income share times the amount of your monthly total 

earned income.

o We calculate your initial payments using your pay stub, letter from your employer, or other 

source acceptable to us. If you do not provide documentation of your initial earnings or 

documentation for deferment, we will assume your earned income matches the average fulltime income for occupations directly related to Information Technology (determined based 

on federal U.S. data).

o We re-calculate your monthly payments any time your earned income changes, based on 

information you provide us, such as an updated pay stub.

o We re-calculate your payments for the current calendar year using updated documentation 

of your earned income you provide on or before April 30, dated within 30 days of 

submission. If you do not provide documentation, we will assume your earned income has 

increased by ten (10) percent each year and adjust your monthly payments accordingly,

effective June 1 each year.

• Each year we reconcile over- or under-payments made in the prior calendar year using copies 

of your year-end pay stub, Form W-2, Form 1099, Schedule K-1, consulting agreement, or 

similar source and validation of the dates of your employment (due on or before April 30), all 

of which must reflect each source of your earned income. Each year we may also require your 

authorization to access your tax return information directly from the Internal Revenue Service 

or similar taxing authority for any and all years of your payment term. You must reimburse us 

for any underpayments, and we will credit your account for any overpayments (or refund the 

excess amount if your payment term has ended).

• You may extinguish your obligations under your ISA before the payment term ends by paying

o a prepayment amounts equal to $18,000, within one month of graduation or

o a prepayment amount equal to $45,000, less payments made to date plus any

outstanding fees, after one month of graduation.

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Students Initial:

Deferment and Default

• After you leave the program, your account will be placed in a deferment status and you will 

not make payments if you earn less than $ 4,167/month (equivalent to $ 5O,OOO/year), 

including if you are unemployed or not in the labor force.

o We may extend your payment term by one month for each deferment month, up to an 

additional 48 months.

• If you do not pay the required amount listed on your bill for six (6) months or do not furnish 

the required documentation for one (1) year, your account will be placed in a payment or 

informational default status, respectively.

See the Additional Terms for further information about deferment, nonpayment, and prepayment.

SOLLERS COLLEGE WILL ENFORCE THE TERMS OF ITS ISAS TO THE FULLEST

EXTENT ALLOWED BY LAW

ADDITIONAL TERMS

THIS INCOME SHARE AGREEMENT IS NOT A LOAN OR CREDIT. THIS 

AGREEMENT IS NOT AN ASSIGNMENT OF WAGES.

THIS AGREEMENT REQUIRES THE USE OF ARBITRATION ON AN INDIVIDUAL 

BASIS TO RESOLVE DISPUTES, RATHER THAN JURY TRIALS OR CLASS ACTIONS. 

YOU MAY OPT OUT OF ARBITRATION BY FOLLOWING THE PROCEDURE SET FORTH 

IN SECTION 29 BELOW. PLEASE READ SECTION 29 CAREFULLY AS IT AFFECTS YOUR

LEGAL RIGHTS IN THE EVENT OF A DISPUTE.

YOU SHOULD SEEK ADVICE ABOUT YOUR FINANCING OPTIONS FROM A 

TRUSTED ADVISOR BEFORE SIGNING THIS AGREEMENT.

Read this entire document carefully and note Section 13 (about your tax liability), Section

17 (about information about you that we use and reports about you that we make to credit bureaus), 

and Section 26 (about this being an arms-length transaction between you and us).

This Income Share Agreement ("ISA" or "Agreement") includes: (i) this document, 

including the Participation Disclosure above and the Arbitration Agreement in Section 29 below 

(which you can reject); (ii) the Application Form; (iii) the Final Disclosure, which will be provided 

to you upon execution of this Agreement to summarize the terms of the Agreement and your 

obligations (collectively with the Participation Disclosure referenced as the "Disclosures"); and 

(iv) the Consent to Electronic Communications. In the event of any inconsistency between this 

document and the Final Disclosure, or between the Final Disclosure and the other Disclosures, the 

Final Disclosure controls. In this Agreement, "you," "your", and "Participant" mean the person 

who completes and/or signs the Application and/or Application Form and this Agreement. "We,"

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Students Initial:

"our," "us," and "the College" mean Sollers College and any of its successors, successors-ininterest, transferees, assignees, agents, designees, or servicers.

This Agreement is not a loan or other credit instrument. It represents your obligation to pay 

a specific percentage of your future earned income and does not give us any rights regarding your 

educational, training, or employment pursuits. The amount of the payments you will make will 

depend upon your future earned income. The total amount you will pay under this Agreement will 

vary depending upon your future earned income and may be more or less than the amount of funds 

credited to your account with us.

Definitions.

a) "Business Day" means Monday through Friday, except for federal holidays in the United

States.

b) "Earned Income" means your total wage and self-employment income. On an annual basis, 

this amount is currently the sum of Line 7 ("Wages, salaries, tips, etc.") and Line 12 ("Business 

income or (loss).") of IRS Form 1040 or Line 1 ("Wages, salaries, and tips.") of IRS Form

1040EZ on U.S. federal income tax returns (2015 revision). Earned income is your gross 

income, not your net income. If applicable, "Earned Income" includes all income reported on 

a joint income tax return, minus, to the extent documented to our satisfaction, any income 

earned solely by your spouse. In our discretion, we may estimate your Earned Income using 

documentation other than your U.S. federal income tax return, provided the documentation is 

another verifiable source acceptable to us.

c) "Higher Education or Training" means a program of study at an institution that is eligible under 

Title IV of the Higher Education Act, as amended from time to time, a gap year program, or a 

proprietary or vocational education or training program (e.g., a coding bootcamp program) that 

provides a more advanced degree or certification than you are receiving through this 

Agreement.

d) "Income Share" means the fixed percentage of your Earned Income that you will owe during 

the Payment Term in return for the ISA Amount you receive. It is not an interest rate or annual 

percentage rate.

e) "ISA Amount" means the amount of funds credited to your account with Sollers College.

Together with any up-front payment, scholarship, or other financial assistance, the ISA 

Amount represents the market charge for the educational or training services you will receive 

from Sollers College, plus any funding charges.

f) "Monthly Payment" means your Income Share multiplied by the amount of your monthly

Earned Income.

g) "Payment Cap" means the maximum amount you will pay under this ISA, not including fees 

and collection costs.

h) "Payment Term" means the number of months during which you pay us a fixed percentage of 

your Earned Income.

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Students Initial:

i) Allocation; Setoff. We will allocate the ISA Amount set forth in your Final Disclosure and 

send you an account confirmation notice that itemizes the allocated amounts. You understand 

that we may have a right to set off the allocations against amounts due to us.

j) Your ISA Contract Terms. The Participation Disclosure above sets forth your ISA Amount, 

Income Share, Payment Term, and Payment Cap, which terms will also be reflected in your 

Final Disclosure. In the event that these terms are adjusted during a review or certification 

process, you will be provided with a new or amended Final Disclosure. Your Final Disclosure 

and any new or amended Final Disclosure(s) will also inform you of your right-to-cancel 

period and instructions for exercising your right to cancel this Agreement in its entirety. In the 

event of any inconsistency between this ISA and the Disclosures, or between the Disclosures, 

the last Final Disclosure controls.

k) Withdrawal. If you leave the program before completion, you may be entitled to a reduction 

of your ISA Amount, Income Share, and other terms based on our refund policy stated in the 

application form. We will notify you as provided in Section 23 of any changes to your ISA 

Amount or other terms.

l) Grace Period. You will not make any payments based on income earned while you are 

enrolled in the program or during your one (1) month grace period. Your grace period begins 

on the date you complete or withdraw from the program.

m) Payment of Your ISA.

a. Payment Term. Your Payment Term begins on the first day of the month following 

the end of your grace period. For example, if you complete the program on December

14, 2018, your Grace Period will end on January 14, 2019, and your Payment Term 

will begin on Feb 1, 2019. As another example, if you withdraw from the program on 

April 10, 2019, your Grace Period will end on May 10, 2019, and your Payment Term 

will begin on June 1, 2019. Your Payment Term may be extended for up to an additional

24 months in certain circumstances as explained in Section 6(g) ("Documentation for

Deferment").

1. Monthly Payments. Except as set forth below, during the Payment Term, you agree

to make your Monthly Payments to us by the first Business Day of each month. Payments are

applied first to fees, if any, and then to the Monthly Payment amount owed. If you make all 

required payments on time during your Payment Term, you will not owe anything at the end of 

your Payment Term even if your payments sum to less than your ISA Amount.

2. Calculation of Your Initial Monthly Payments. Not later than one month before your

first scheduled payment is due, you agree to provide us with one of the following kinds of 

documentation, dated not earlier than thirty (30) days before the date you provide it to us:

(a) A copy of any pay stub or letter from your employer containing your salary 

information, a self-employment contract, a consulting agreement, a good faith estimate of your selfemployment income for the current calendar year (along with documentation of the basis for your

estimate), or another verifiable source acceptable to us (collectively, "Informal Earned Income 

Documentation") for each source of Earned Income; or

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Students Initial:

(b) Documentation acceptable to us demonstrating a circumstance that qualifies you 

for a deferment as described in Section 6(g) ("Documentation for Deferment").

3. Annual Reconciliation. On or before April 30thof each year of the Payment Term and 

April 30thfollowing the end of the Payment Term, you agree to provide us with:

(a) A completed and signed IRS Form 4506-T or Form 4506T-EZ (or any successor form),

designating us asthe recipient of your tax return information for returns covering any and all months

of your Payment Term, dated not earlier than thirty (30) days before the date you provide it to us;

and one of the following to verify your Earned Income or deferment status for the preceding year:

(b) A year-end pay stub, Form W-2, Form 1099, Schedule K-1, or other verifiable source

acceptable to us (collectively, "Formal Earned Income Documentation") for each source of Earned

Income in the prior calendar year, or

(c) If your ISA is in a deferment status, updated documentation to re-verify your

Documentation for Deferment.

If you are not in deferment status, we will use the Formal Earned Income Documentation 

to determine whether the payments you made in the prior calendar year were more or less than 

what you actually owed. If you underpaid, we will bill you for, and you agree to pay the difference 

by the deadline stated in the bill. If you overpaid, we will apply excess amounts first to unpaid fees 

and second as a credit toward future payments due. If you overpaid in the final year of your Payment 

Term, we will refund the excess amounts.

(d) Annual Adjustment of Monthly Payments. We will re-calculate your Monthly Payment 

effective each June 1. You have two options:

(i) On or before April 30thof each calendar year of your Payment Term, you can provide us

with Informal Earned Income Documentation for each source of Earned Income for the 

current calendar year and we will use this to re-estimate your Monthly Payments.

(ii) Alternatively, if you do not provide us with new documentation and you are not in

deferment, we will assume your Earned Income has increased by ten (10) percent and adjust

your Monthly Payments, accordingly, beginning with the payment due June 1. Since this

is an estimate of your current Earned Income, it may result in MonthlyPaymentsthat are either 

higher or lower than what you actually owe. Any overpayments or underpayments will 

be reconciled the following calendar year as described in Section 6(d).

(e)Periodic Adjustment of Monthly Payments. If you are not in a deferment status, you must

inform us as soon as you know of any changes in your monthly Earned Income and you must

send us updated Informal Earned Income Documentation as soon as it is available to you. For 

example, if you sign a new employment agreement that will change your Earned Income, Informal

Earned Income Documentation is available to you once you receive a copy signed by all of the

parties to that employment agreement. When you send us Informal Earned Income Documentation,

we will re-calculate your Monthly Payments. This may or may not result in a change in the amount

of your Monthly Payments. In addition, if information that you provide

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Students Initial:

us pursuant to Section 8 shows that your Earned Income has changed during the year, we may also 

modify your Monthly Payments at that time even if you did not supply us with updated Informal 

Earned Income Documentation. This includes changes in your Earned Income due to fluctuations 

in your self-employment income, whether as a consultant or otherwise. Periodic modifications in 

your Monthly Payments may avoid significant underpayments or overpayments during the annual 

reconciliation process set forth in Section 6(d).

(f) Payment Deferment and Extensions of Payment Term. After you leave the program, certain

circumstances, such as going back to school or earning below an Earned Income threshold, qualify

you for a deferment. If you provide Documentation for Deferment (as defined in Section 6(c)(ii)),

we will place your account in an inactive/deferment status, and you will not make Monthly

Payments. Depending on the qualifying circumstance, we may extend your Payment Term by one

month for each month of deferment, up to an additional 48 months, as described in the table below.

Qualifying Circumstance Monthly

Payment

Is Payment Term

Extended?

Employed full-time (working 35 hours or more per 

week on average at one or more jobs, including selfemployment) and earning less than $ 4,167 monthly 

(equivalent to an annual Earned Income of $ 50,000)

$0 Yes

Employed part-time (working less than 35 hours per 

week on average at one or more jobs, including selfemployment) and earning less than $ 4,167 monthly 

(equivalent to an annual Earned Income of $ 50,000)

$0 Yes

Unemployed (not working but actively seeking 

employment) $0 Yes

Not in the labor force (not working and not actively 

seeking employment; for instance, taking time off due 

to illness or to care for a child)

$0 Yes

If your account is in an inactive/deferment status, you must notify us as soon as you know 

that you will no longer qualify for deferment under any of the circumstances described above, and 

you must send us updated Informal Earned Income Documentation as soon as it is available to you. 

For example, if you accept a three-month consulting agreement that will pay you $15,300, an 

amount which is in excess of $ 4,167 per month, Informal Earned Income Documentation is 

available to you once you receive an e-mail confirming your engagement and the terms of the 

consulting agreement.

If annual reconciliation or other verifiable documentation demonstrates that, while your 

account was in deferment, (a) you were not enrolled in a higher education or training program, (b) 

you worked and had an average monthly earned income of $ 4,167 or more for the months in which 

you worked, and (c) you made payments based on that income, we will retroactively count those 

months in which you worked toward your Payment Term obligation. For example, if your account

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Students Initial:

was in deferment for an entire calendar year but you were paid $15,000 at the end of the year for 

contract work performed over the last three (3) months of the year, your average monthly income 

over those three (3) months would be $5,000, which exceeds the $ 4,167 threshold. If you make 

the full, required payment based on that $15,000 of earned income, we will retroactively count 

your three (3) months of work towards your remaining Payment Term obligation.

(g) Cap on Payments, Prepayment Amount;. The maximum you will pay is $45,000 over

the payment term, regardless of your earned income.

If you desire to extinguish your obligations under this ISA prior to the expiration of your Payment 

Term, you may at any time pay an amount (the "Prepayment Amount") equal to (i) the Payment 

Cap, (ii) less any Monthly Payments you already made, (iii) plus any outstanding fees, as 

satisfaction in full of your payment obligations under this Agreement. In addition, the sum of the 

payments you owe under this Agreement will not exceed the Payment Cap, plus fees described in 

the disclosures (as applicable), regardless of your earned income.

(h) Limit on Other Income-Based Agreements. You agree that you have not and will not enter

into additional private income-based agreements with us or another person that, in the aggregate,

obligate you to pay a total share of your income exceeding twenty-five (25) percent of your Earned

Income in any given month. Loans with income-driven repayment plans, including federal student

loans, will not be considered private income-based agreements under this Section.

(i) Waiver of ISA Due to Death or Total and Permanent Disability. We will waive the

remainder of what you owe under this Agreement, including any past due amounts and fees,

if you die or become totally and permanently disabled. You or your estate must provide us 

with any tuition refund, which we will apply to the ISA Amount. If you would like to assert

a waiver based on total and permanent disability, you will need to submit an application 

accompanied by a physician's statement and such other information or documentation that we

may require, showing that you are unable to work in any occupation due to a condition that

began or deteriorated after the date of the Final Disclosure and that the disability is 

expected to be permanent. Unless your Monthly Payments already are deferred under

Section 6(g), you must continue to make payments until the time the disability application is

completed to our satisfaction. If we approve your disability waiver application, the waiver

will be effective as of the date of the completed application.

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Students Initial:

4. Fees. The following fees apply, subject to applicable law:

Description Amount

Late Payment Fee

A fee charged if you do not make any payment due under this ISA on 

or before the 10th day after the due date. Any payment received after 

6:00

PM Eastern time on a Business Day is deemed received on the next

Business Day.

The lesser 2% of 

the payment 

amount due

Returned Payment Fee

A fee charged if any payment is returned or fails due to insufficient 

funds in your account or for any other reason.

$25

5. Notice of Certain Changes. You agree to notify us within 10 days as provided in

 Section 23 of any change in your:

a) primary residence address, phone number or email, or any other material 

change to information previously provided to us;

b) employment status, including both terminations of employment and new

c) employment;

d) Earned Income measured on a monthly basis;

e) marital status, to the extent reasonably required for us to exclude earnings of

your spouse from the calculation of your Earned Income; and

f) enrollment status in Higher Education or Training.

6.Review of Your Tax Returns. For the tax year in which your Payment Term begins through

the tax year in which your Payment Term ends, you agree either (a) to file your U.S. federal income

tax returns by no later than April 15 of the following year or (b) to notify us as provided in

Section 23 of any extension you seek for filing federal income tax returns. Moreover, if we

request, you agree to complete, sign, and provide to us IRS Form 4506-T or Form

4506T-EZ (or any successor form), designating us as the recipient of your tax return information 

for returns covering any and all years of your Payment Term, within thirty (30) days of our request. 

You agree to perform any similar requirements or procedures for any other applicable country's 

taxing authority.

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7. Default and Remedies.

(a) Default. Without prejudice to our other rights and remedies hereunder, and 

subject to applicable law, we may deem you to be in default under this Agreement upon: (i) your 

failure to make any payment in full and on time for six (6) consecutive months; (ii) your failure to 

provide Formal or Informal Earned Income Documentation or Documentation for Deferment as 

required by Sections 6(c), 6(d), and 6(g) within one (1) year of its due date; (iii) your failure to 

provide us a completed and signed IRS Form 4506-T or Form 4506T-EZ (or any successor form) 

within thirty (30) days of the annual deadline or our separate request, as set forth in Sections 6(d) 

and 9; or (iv) your violation of any other provision of this Agreement that impairs our rights, 

including but not limited to our receipt of information we deem to be materially false, misleading, 

or deceptive.

(b) Remedies Upon Default. Subject to applicable law (including any notice 

and/or cure rights provided by applicable law), upon default, we may elect to (i) collect the 

Prepayment Amount, (ii) enforce all legal rights and remedies in the collection of such amount 

and related fees (including any rights available to us to set off any state tax refund) or (iii) utilize 

any combination of these remedies. You agree to pay our court costs, reasonable attorneys' fees, 

collection fees charged by states for state tax refund set-off, and other collection costs related to 

the default (including our fees and costs due to your bankruptcy or insolvency, if applicable) to 

the extent permitted by applicable law.

(c) Equitable Remedies. If we conclude that money damages are not a 

sufficient remedy for any particular breach of this Agreement, then we will be entitled to seek 

injunctive or other equitable relief as a remedy for any such breach to the fullest extent permitted 

by applicable law. Such remedy shall be in addition to all other remedies available at law or equity 

to us.

8. Truthfulness of Information. You represent that all information provided in connection

with your Application and/or Application Form is true and accurate and you have not provided any

false, misleading or deceptive statements or omissions of fact. You represent that: (i) you have

never been convicted of a felony or of any crime involving dishonesty or breach of trust under any

federal or state statute, rule or regulation; (ii) you are not contemplating bankruptcy and you have

not consulted with an attorney regarding bankruptcy in the past six (6) months; (iii) you are at least

the age of majority based on your current state of residence; (iv) you are a U.S. citizen (includes

naturalized citizens) or permanent resident; and (v) you have filed all federal tax returns and reports

as required by law, they are true and correct in all material respects, and you have paid all federal

taxes and other assessments due.

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9.Correction of Errors. All parties to this Agreement agree to fully cooperate and adjust all

typographical, computer, calculation, or clerical errors discovered in any or all of the ISA

documents including this document, the Application and/or Application, the Application and 

Solicitation Disclosure, the Participation Disclosure, the Final Disclosure, and any Notice to 

Married Residents of Arizona or Wisconsin, as applicable. Errors in the names and/or addresses 

of the parties will be corrected by notice to all parties. In the event this procedure is used for

any other errors, all parties involved will be notified and will receive a corrected copy of the

changed document.

10. Tax Reporting. You acknowledge and agree that the federal, state, and local income

tax consequences of this Agreement are not certain and that we have not provided you with

any tax advice or assurance of specific consequences. You agree that you have had an 

opportunity to consult with your own trusted advisor about the tax consequences of entering

into this Agreement.

Notwithstanding the foregoing, recognizing that all parties are best served by consistent, 

good faith tax reporting of the transaction in accordance with what the parties believe to be its 

economic substance, except as otherwise required by law, you agree to report the transaction

for federal, state, and local income tax purposes as a financial contract (in other words, as the

"sale" by you of part of the income stream you will earn in the future) and not as a loan or any

other form of indebtedness. Whether the financial contract results in a gain or loss will be

unknown until the end of the Payment Term or until this Agreement is terminated, if prior to the 

end of the Payment Term. Under the tax law, when the parties do not know the extent of the gain

or loss from a transaction when it occurs, they can treat the transaction as an "open transaction"

and determine the consequences once the final terms are known. Under this tax treatment, it is

expected that you will not recognize the ISA Amount as income when you enter into this

Agreement. Upon the maturity or termination of this Agreement, if the aggregate amount

of funding credited to others on your behalf is greater than the aggregate sum of payments

you made to us during your Payment Term, then you will likely recognize the difference 

as ordinary income equal to the difference between the amount of funding credited to

others on your behalf and the sum of payments you made to us. You agree to file your

federal, state, and local income tax returns in accordance with this expected tax treatment unless 

you notify us in writing at least thirty (30) days before filing any such return (as provided in

Section 23) that you intend to take a contrary position.

You acknowledge that because the appropriate tax reporting is uncertain, the IRS and/or 

state or local taxing authorities may challenge the method of reporting described above, and

new legislation may affect the federal, state, or local tax treatment of this Agreement. If

such a challenge were to succeed, you could have significantly greater tax liability at a

significantly earlier time or times than would be the case under the method described above.

While we are under no obligation to do so, it also is possible that we may seek a ruling from the

IRS during your Payment Term regarding these tax consequences. You agree and acknowledge

that you have had an opportunity to consult with your own trusted advisor about the tax

consequences of entering into this ISA and receiving the ISA Amount.

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11. Electronic Delivery. We may decide to deliver any documents or notices related to this 

Agreement by electronic means. Except as otherwise provided in the Consent to Electronic 

Communications, you agree to receive such documents or notices by electronic delivery and to 

participate through an on-line or electronic system established and maintained by us or a third 

party designated by us.

12.Automatic Reminders. We may use automated telephone dialing, text messaging systems

and electronic mail to provide messages to you about payment due dates, missed payments, and

other important information. The telephone messages may be played by a machine automatically 

when the telephone is answered, whether answered by you or someone else. These messages

may also be recorded in your voicemail. You give us your permission to call or send a text

message to any telephone number you provide us now or in the future and to play pre-recorded 

messages or send text messages with information about this Agreement over the phone. You

also give us permission to communicate such information to you via electronic mail. You agree

that we will not be liable to you for any such calls or electronic communications, even if

information is communicated to an unintended recipient. You understand that, when you receive 

such calls or electronic communications, you may incur a charge from the company that

provides you with 

telecommunications, wireless, and/or Internet services. You agree that we have no liability for 

such charges. If you want to change your communication preferences, such as no longer wanting 

to receive automatic reminders, you can update your preferences by contacting us at

isa.info@sollers.edu.

13. Telephone Recording. You understand and agree that we may monitor and/or record

any of your telephone conversations with us.

14. Consent to Credit and Income Verification; Credit Reporting. You authorize us to 

obtain your credit report, verify the information that you provide to us, and gather additional 

information that may help us assess and understand your performance under this Agreement.

You understand that we may verify your information and obtain additional information using a

number of sources, including, but not limited to, consumer reporting agencies, other third-party

databases, past and present employers, other school registrars, public sources, and personal 

references provided by you. If you ask, you will be informed whether or not we obtained a credit

report and, if so, the name and address of the consumer reporting agency that furnished the

report. You also understand and agree that we may obtain a credit report and gather additional

information, including from the sources described above, in connection with the review or

collection of your ISA. You consent to our sharing of your information with our affiliates and

financing parties, which we will do using reasonable data security procedures. You will be

provided with A Summary of Your Rights Under the Fair Credit Reporting Act.

You authorize us to report information about this Agreement to credit bureaus. 

Although this Agreement is not a loan or other credit instrument, we may inform credit 

bureaus about your positive payment behavior when you make payments as agreed. 

However, this also means that late payments, missed payments or other defaults under this 

Agreement may be reflected in your credit report.

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15. Amendments and Waivers. We may amend this Agreement by providing you with 30 days

advance written notice as provided in Section 23 of any significant changes to the address in our

records. However, if an amendment is necessary to comply with changes in applicable law, we

may amend this Agreement without providing you with advance notice. No delay or failure to 

require performance of any provision of this Agreement shall constitute a waiver of that 

provision as to that or any other instance.

16. Customer Identification Policy. To help the government fight the funding of terrorism

and money laundering activities, we will obtain, verify, and record information that identifies 

each person who enters into this Agreement. What this means for you: when you enter into this

Agreement, we reserve the right to ask for your name, address, date of birth, and other 

information that will allow us to identify you. We may also ask to see your driver's license or

other identifying documents, or for you to provide true and correct copies to us.

17. Governing Law. The validity, interpretation, construction, and performance of this 

Agreement, and all acts and transactions pursuant hereto and the rights and obligations of the 

parties hereto and thereto shall be governed, construed, and interpreted in accordance with the

laws of the State of New Jersey, without giving effect to principles of conflicts of law.

Notwithstanding the foregoing, federal law shall govern the Arbitration Agreement 

in Section 29.

18. Entire Agreement. This Agreement sets forth the entire agreement and understanding of

the parties relating to the subject matter herein and supersedes all prior or contemporaneous

discussions, understandings, and agreements, whether oral or written, between you and us

relating to the subject matter hereof.

19. Successors and Assigns. Except as otherwise provided in this Agreement, this 

Agreement, and the rights and obligations of the parties hereunder, will be binding upon and

inure to the benefit of their respective successors, assigns, heirs, executors, administrators, and

legal representatives. We may assign any of our rights, economic benefits, or obligations under

this Agreement. You may not assign, whether voluntarily or by operation of law, any of your

rights, economic benefits or obligations under this Agreement, except with our prior written

consent given in accordance with Section 23.

20. Notices. Any notice, demand or request required or permitted to be given under this 

Agreement shall be in writing and, except as otherwise provided, shall be deemed sufficient

when sent by email or two (2) Business Days after being deposited in the U.S. mail as certified

or registered mail with postage prepaid. Notices to Sollers College shall be sent to

isa.info@sollers.edu or as subsequently modified by written notice. Notices to Participant shall 

be sent to the e-mail and/or physical mail addresses you provided in your Application Form, or

as subsequently modified by written notice to us.

21. Severability. Except as set forth in the Arbitration Agreement, if one or more provisions

of this Agreement are held to be unenforceable under applicable law, the parties agree to

renegotiate such provision in good faith. In the event that the parties cannot reach a mutually 

agreeable and enforceable replacement for such provision, then (i) such provision shall 

be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if

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such provision were so excluded, and (iii) the balance of the Agreement shall be enforceable in 

accordance with its terms.

22.Execution; Electronic Transactions.This Agreement may be executed electronically or

manually. Execution may be completed in counterparts (including both counterparts that are 

executed on paper and counterparts that are electronic records and executed electronically),

which together constitute a single agreement. Any copy of this Agreement (including a copy 

printed from an image of this Agreement that has been stored electronically) shall have the same 

legal effect as an original.

23.Independent Decision to Enter into this ISA. You agree that this Agreement is an armslength transaction. You agree that we are not an agent or fiduciary or advisor in your

favor in connection with the execution of this Agreement. You agree that we have not 

provided any legal, accounting, investment, regulatory or tax advice with respect to this 

Agreement.

24. Marriage. If you are married or get married, you agree to document your income separately 

from your spouse's and to provide us with the necessary documentation to calculate your

individual Earned Income. If you are married and live in Wisconsin on the date you sign this 

Agreement or during the term hereof, your signature on this ISA confirms that any financial 

obligation incurred as a result of this ISA is being incurred in the interest of your marriage

or

family. If you are married and live in Texas on the date you sign this Agreement or during the

term hereof, you agree to hold your Earned Income in a separate bank account from your 

spouse.

25. Notice and Cure. Prior to initiating a lawsuit or arbitration regarding a Claim (as defined

in Section 29 below), the party asserting the Claim (the "Complaining Party") shall give the

other party (the "Defending Party") written notice of the Claim (a "Claim Notice") and a 

reasonable opportunity, not less than 30 days, to resolve the Claim. If we are the Complaining 

Party, we will send the Claim Notice to you at your e-mail and/or physical mail address appearing 

in our records or, if you are known to be represented by an attorney, to your attorney at his or her 

office address. Any Claim Notice must explain the nature of the Claim and the relief that is 

demanded. The Complaining Party must reasonably cooperate in providing any information about 

the Claim that the Defending Party reasonably requests.

26. Arbitration Agreement. Except as expressly provided below, Participant and Sollers

College agree that any past, present or future claim, dispute or controversy, regardless of the

legal theory on which it is based, arising out of, relating to or in connection with this Agreement,

or that arises from or is related to any relationship resulting from this Agreement (a "Claim"),

shall be submitted to and resolved on an individual basis by binding arbitration under the Federal

Arbitration Act, 9 U.S.C. §§1 et seq. (the "FAA") before the American Arbitration Association

(the "AAA") under its Consumer Arbitration Rules (the "AAA Rules"), in effect at the time the

arbitration is brought, unless Sollers College and the Participant agree in writing to arbitrate

before a different party. If a Claim is arbitrated, it will be resolved by a neutral third-party 

arbitrator, and not by a judge or a jury, and Participant and Sollers College knowingly and 

voluntarily waive the right to a jury trial on such Claim. "Claim" hasthe broadest possible meaning 

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and includesinitial claims, counterclaims, cross-claims, and third-party claims. It includes disputes 

based upon contract, tort, consumer rights, fraud and other intentional torts, constitution, statute, 

regulation, ordinance, common law, and equity (including any claim for injunctive or declaratory 

relief). If the AAA is unable to serve as administrator and Sollers College and the Participant 

cannot agree on a replacement, a court with jurisdiction will select the administrator or arbitrator. 

The AAA Rules are available online at http://www.adr.org. For purposes of this Arbitration 

Agreement, (1) the term "Sollers College" includes (a) Sollers College, (b) any successor, 

successor-in-interest, transferee, assignee, agent, designee, or servicer of Sollers College; (c) any 

affiliates, subsidiaries, and/or parent of the persons and entities referenced in (a) or (b), (d) the 

officers, directors, employees, stockholders, members, affiliates, subsidiaries, and parents of all 

of the foregoing in (a) through (c); and (e) any party named as a co-defendant with Sollers

College in a Claim asserted by the Participant, such as servicers and debt collectors; and (2) the

term "Participant" means the Participant. Notwithstanding the above, if a Claim that the

Participant or Sollers College wishes to assert against the other is cognizable in a small claims

court (or your state's equivalent court) having jurisdiction over the Claim and the parties, the

Participant or Sollers College may pursue such Claim in that small claims court; however, if the

Claim is transferred, removed, or appealed to a different court, it shall be resolved by arbitration.

Nothing in that small claims court lawsuit shall constitute a waiver of any party's rights 

under this Arbitration Agreement with respect to Claims asserted in any related or unrelated 

lawsuits. Moreover, any dispute concerning the validity or enforceability of this Arbitration

Agreement or any part thereof (including, without limitation, the class action waiver below) must

be decided by a court; any dispute concerning the validity or enforceability of the Agreement as

a whole is for arbitrator. 

Any arbitration hearing that you attend will take place in New Jersey. If you cannot obtain 

a waiver of the AAA's or arbitrator's filing, administrative, hearing, and/or other fees, we will 

consider in good faith any request by you for usto bearsuch fees. Each party will bear the expense 

of its own attorneys, experts, and witnesses, regardless of which party prevails, unless applicable 

law or this Agreement gives a right to recover any of those feesfrom the other party. The arbitrator 

shall follow applicable substantive law to the extent consistent with the FAA, applicable statutes 

of limitation, and privilege rules that would apply in a court proceeding, and shall be authorized 

to award all remedies available in an individual lawsuit under applicable substantive law, 

including, without limitation, compensatory, statutory, and punitive damages (which shall be 

governed by the constitutional standards applicable in judicial proceedings), declaratory, 

injunctive and other equitable relief, and attorneys' fees and costs. Upon the timely request of

either party, the arbitrator shall write a brief explanation of the basis of his or her award. The

arbitrator's award will be final and binding, except for any appeal right under the FAA. Any 

court with jurisdiction may enter judgment upon the arbitrator's award.

This Arbitration Agreement shall survive the termination of this ISA, your fulfillment or 

default of your obligations under this ISA and/or your or our bankruptcy or insolvency (to the 

extent permitted by applicable law). In the event of any conflict or inconsistency between this 

Arbitration Agreement and the administrator's rules or other provisions of this ISA, this

Arbitration Agreement will govern.

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CLASS ACTION WAIVER: IF A CLAIM IS ARBITRATED, NEITHER 

PARTICIPANT NOR SOLLERS COLLEGE WILL HAVE THE RIGHT TO 

PARTICIPATE IN A CLASS ACTION, PRIVATE ATTORNEY GENERAL ACTION 

OR OTHER REPRESENTATIVE ACTION IN COURT OR IN ARBITRATION,

EITHER AS A CLASS REPRESENTATIVE OR CLASS MEMBER. Further, unless both

Participant and Sollers College agree otherwise in writing, the arbitrator may not join or

consolidate Claims with claims of any other persons. The arbitrator shall have no authority to

conduct any class, private attorney general, or other representative proceeding, and shall award

declaratory or injunctive relief only in favor of the party seeking relief and only to the extent

necessary to provide relief warranted by that party's individual claim. The arbitrator shall have

no authority to issue any relief that applies to any person or entity except Participant or Sollers 

College individually.

If any portion of this Arbitration Agreement cannot be enforced, the rest of the Arbitration 

Agreement will continue to apply, except that (A) if a determination is made in a proceeding 

involving Sollers College and the Participant that the class action waiver is invalid or 

unenforceable, only this sentence of this Arbitration Agreement will remain in force and the 

remainder of this Arbitration Agreement shall be null and void, provided that the determination 

concerning the class action waivershall be subject to appeal, and (B) if a Claim is broughtseeking 

public injunctive relief and a court determines that the restrictions in the class action waiver 

prohibiting the arbitrator from awarding relief on behalf of third parties are unenforceable with 

respect to such Claim (and that determination becomes final after all appeals have been

exhausted), the Claim for public injunctive relief will be determined in court and any individual

Claimsseeking monetary relief will be arbitrated. In such a case the parties will request that the

court stay the Claim for public injunctive relief until the arbitration award pertaining to individual

relief has been entered in court. In no event will a Claim for public injunctive relief be arbitrated.

RIGHT TO REJECT: Participant may reject this Arbitration Agreement by

mailing a signed rejection notice to Sollers College at isa.info@sollers.edu within thirty (30)

calendar days after the date of this Agreement. Any rejection notice must include

Participant's name, address, email address, telephone number, and account number. If

you reject this Arbitration Agreement, that will not affect any other provision of the

Agreement.

27. Waiver of jury Trial. YOU ACKNOWLEDGE AND AGREE THAT, 

INASMUCH AS THE PURPOSE OF THE ARBITRATION AGREEMENT IN SECTION 29

IS TO REQUIRE THAT ALL CLAIMS BE RESOLVED BY BINDING ARBITRATION, NO 

PARTY TO THIS AGREEMENT SHALL BE ENTITLED TO A TRIAL BY JURY IF SUCH 

ARBITRATION AGREEMENT IS IN EFFECT. MOREOVER, TO THE EXTENT YOU 

TIMELY AND ADEQUATELY REJECT THE ARBITRATION AGREEMENT IN

SECTION

29, OR IF FOR ANY OTHER REASON A CLAIM IS NOT ARBITRATED, SOLLERS 

COLLEGE AND THE PARTICIPANT KNOWINGLY AND VOLUNTARILY WAIVE, TO 

THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO A TRIAL BY JURY

WITH RESPECT TO ANY CLAIM.

[Signature Page Follows]

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The parties, intending to be legally bound, have executed this Agreement as of the date set 

forth below.

NOTICE TO PARTICIPANT 

1. Do not sign this ISA before you read it or if it contains any 

blank terms.

2. You are entitled to a completely filled-in copy of this ISA.

PARTICIPANT: By signing below, you acknowledge that you have read this entire 

Agreement carefully and agree to its terms, including Section 12 (about your tax liability), 

Section 17 (about information about you that we use and reports about you that we make

to credit bureaus), Section 26 (about this being an arms-length transaction between you

and us), and Section 29 (about arbitration on an individual basis and class-action 

waiver, including your opt-out right).

SOLLERS COLLEGE: PARTICIPANT:

By: By:

 (Signature) (Signature)

Date: Date:

Name: Name: 

Title: 

Address: Sollers College Address:

55 Parsonage Rd, Unit #1850

Edison, NJ

08837

Phone: Phone: 

Email: 

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