Document:

<PAGE>
                                                                   Exhibit 10.20
                            EXCHANGE AGENT AGREEMENT

                                                              June 3, 2003

Interwest Transfer Co., Inc.
P.O. Box 17136
Salt Lake City, Utah 84117
Facsimile: (801) 277-3147

Dear Sir or Madam:

         Education Lending Group, Inc., f/k/a Direct III Marketing, Inc.
("Education Lending Group" or the "Company") is offering to exchange one share
of common stock, par value $.001 per share, for each of its outstanding shares
of common stock, par value $.001 per share (the "Exchange Offer"). The common
stock offered in exchange for outstanding common stock will be registered with
the Securities and Exchange Commission ("SEC") by a Registration Statement on
Form S-4 ("Registration Statement") containing a prospectus and certain exhibits
thereto that will be mailed to stockholders to advise them of the Exchange Offer
and describe the applicable terms of the exchange effected thereby
(collectively, the "Prospectus").

         The form of the Letter of Transmittal to be sent to each Education
Lending Group stockholder is attached hereto as Exhibit A, and a certified copy
                                                ---------
of the resolutions adopted by the Board of Directors of Education Lending Group
authorizing the Exchange Offer is attached as Exhibit B. Interwest Transfer Co.,
                                              ---------
Inc. ("Interwest") is the Company's transfer agent and, as the transfer agent,
maintains (i) a list containing the names and addresses of all the Education
Lending Group stockholders and the number of shares of Education Lending Group
common stock held by each stockholder and (ii) a list of certificates (giving
certificate numbers) representing shares of common stock which have been or are,
as of such date, lost, stolen, destroyed or replaced or restricted as to
transfer (noting the text of the restrictive legends applicable thereto) or with
respect to which a stop transfer order has been noted. The Company will, at
Interwest's request, provide the information necessary for Interwest to update
the lists referred to in (i) and (ii) above for purposes of the Exchange Offer.
The Company has provided a list of those affiliates of Education Lending Group
("Affiliates"), as shown on the attached Exhibit C, who may be entitled to
receive shares of Education Lending Group common stock pursuant to the Exchange
Offer, all of whom shall receive such shares in the form of certificates which
shall be affixed with the restrictive legend as shown in the form attached
hereto as Exhibit D (such lists being herein referred to as the "Lists").
          ---------

         The Exchange Offer will commence promptly after the date on which the
SEC declares the Registration Statement effective ("Effective Time") and will
expire on the date set forth in the Prospectus, unless extended. As soon as
practicable after the Effective Time, the Exchange Agent will mail to each
holder of record of outstanding shares of Education Lending Group common stock
(i) a copy of the Prospectus, (ii) a form of the Letter of Transmittal with
instructions, and (iii) a self-addressed return envelope.

         This will confirm your appointment by Education Lending Group as the
exchange agent (the "Exchange Agent"), and, in that capacity, your authorization
to act as agent for Education Lending Group stockholders for the purpose of
receiving previously issued shares of Education Lending Group common stock from
each stockholder who elects to tender his, her or its shares and transmitting
newly issued registered shares of Education Lending Group common stock to such
stockholders upon

                                       1

<PAGE>

satisfaction of the conditions set forth herein. Your duties, liabilities and
rights as Exchange Agent are set forth herein.

     In carrying out your duties as Exchange Agent, you are to act in accordance
with the following:

1.   Examination of Documents.

     You are to examine each Letter of Transmittal, each Notice of Guaranteed
Delivery, each certificate representing shares of Education Lending Group common
stock being tendered and any other required documents delivered or mailed to you
by or for any Education Lending Group stockholder to ascertain, to the extent
reasonably determined by you, whether:

     (i) each Letter of Transmittal and Notice of Guaranteed Delivery appear to
be duly executed and properly completed in accordance with the instructions set
forth therein;

     (ii) each certificate for shares of Education Lending Group common stock
appears to be properly surrendered and, if appropriate, endorsed for transfer;

     (iii) all other required documents, if any, used in the exchange appear to
be duly executed and properly completed and in the proper form; and

     (iv) each certificate for shares of Education Lending Group common stock is
free of restrictions on transfer or stop orders except as set forth on the
Lists.

     In the event you ascertain that any Letter of Transmittal, Notice of
Guaranteed Delivery or other document has been improperly completed or executed,
any of the certificates for shares of Education Lending Group common stock are
not in proper form or some other irregularity exists, you shall attempt to
promptly resolve such impropriety or irregularity and may use your best efforts
to contact the appropriate stockholder by whatever means of communication you
deem most expedient to correct such impropriety or irregularity and, upon
consultation with Education Lending Group, shall endeavor to take such other
reasonable action as may be necessary to cause such impropriety or irregularity
to be corrected. The determination of any questions referred to Education
Lending Group or its counsel by you as to the validity, form and eligibility, as
well as the proper completion or execution, of any Letter of Transmittal, Notice
of Guaranteed Delivery and other documents shall be final and binding and you
may rely thereon as provided in Section 10(e) hereof. Any costs of contacting
stockholders for the purpose of correcting any impropriety or irregularity shall
be incurred for the account of Education Lending Group.

2.   Exchange of Shares and Issuance of Certificates or Book-Entry Statement.

     After you have timely received either certificates for all physically
tendered common stock, in proper form for transfer, or, if applicable, a
book-entry confirmation of transfer of the common stock into your account at the
Depository Trust Company, a properly completed and duly executed Letter of
Transmittal, with any required signature guarantees, and all other required
documents or, in the case of a book-entry confirmation, a properly completed and
duly executed Letter of Transmittal, with any required signature guarantees, or
an agent's message instead of such Letter of Transmittal, you shall (i) cause to
be issued and distributed to the holder(s) in whose name such certificate(s) for
shares of common stock were registered certificates for the newly registered
shares of common stock in exchange

                                       2

<PAGE>

for tendered shares of outstanding common stock or, (ii) in the case of a
book-entry confirmation, cause to be issued and distributed to the holder(s) in
whose name certificate for shares of common stock were registered a book-entry
account statement. All Affiliates shall receive such shares in the form of
certificates which shall be affixed with the restrictive legend as shown in the
form attached hereto as Exhibit D.

     If any certificate or book-entry account statement representing shares of
Education Lending Group common stock is to be issued in a name other than that
in which the certificate surrendered in exchange therefore is registered, it
shall be a condition of the issuance thereof that the certificate so surrendered
shall be properly endorsed and otherwise in proper form for transfer and that
the person requesting such exchange shall pay to you any transfer or other taxes
required, or shall establish to your satisfaction that such tax has been paid or
is not payable.

     Certificates to be delivered by mail shall be forwarded by first class mail
under the Exchange Agent's blanket surety bond, which Education Lending Group
understands protects Education Lending Group and the Exchange Agent from loss or
liability arising by virtue of the non-receipt or non delivery of such
certificates. It is understood that the market value of securities in any one
shipment sent by first class mail under this procedure will not be in excess of
$500,000. In the event the market value shall exceed $500,000 the envelope shall
be mailed by registered mail and shall be insured separately for the replacement
value of its contents at the time of mailing.

3.   Lost, Stolen or Destroyed Certificates.

     In the event of the possibility of a stockholder claiming that any
certificate representing shares of Education Lending Group common stock is lost,
stolen or destroyed, the Exchange Agent has included an affidavit of loss and an
indemnity bond as part of the Letter of Transmittal. The Exchange Agent shall
make the distribution of Education Lending Group shares only upon receipt of a
properly completed affidavit of loss and an indemnity bond.

4.   IRS Filings.

     You shall arrange to comply with all requirements under the tax laws of the
United States, including those relating to missing Tax Identification Numbers,
and shall file IRS Form 1099B on a constructive receipt basis, and for all
accrued dividends Form 1099DIV on a paid basis. You may be required to deduct
31% from cash dividend payments to holders who have not supplied their correct
Taxpayer Identification Number or required certification. You will turn over
such funds to the IRS.

5.   Copies of Documents.

     You shall take such action at Education Lending Group's expense as may from
time to time be reasonably requested by Education Lending Group to furnish
copies of documents in connection with the Exchange Offer to persons designated
by Education Lending Group.

6.   Reports and Maintenace of Records.

     You shall furnish, until otherwise notified by Education Lending Group,
monthly reports to Education Lending Group, to the attention of Douglas L.
Feist, Executive Vice President, Secretary and General Counsel, 12760 High Bluff
Drive, Suite 210, San Diego, California 92130, (858) 617-6080 (phone), (858)
617-6079 (fax), or such other address as may be provided to the Exchange Agent
by

                                       3

<PAGE>

Education Lending Group, which reports shall provide the number of shares
tendered therefore (previous, herewith and total). You will keep and maintain
complete and accurate ledgers showing all shares exchanged by you and payments
made by you. You are authorized to cooperate with and furnish information to any
organization or its legal representatives designated from time to time by
Education Lending Group in any manner reasonably requested by any of them in
connection with the Exchange Offer.

7.   Maintanance of Documents Delivered to Exchange Agent.

     Letters of Transmittal, telegrams, facsimile transmissions and other
documents and materials submitted to you shall be preserved by you until
delivered to or otherwise disposed of in accordance with Education Lending
Group's instructions at or prior to the termination hereof. All certificates for
shares of Education Lending Group common stock surrendered to you shall be
retained by you, unless you are directed otherwise by Education Lending Group.

8.   Exchange Agent's Duties and Obligations.

     As Exchange Agent, you:

     (i) will have no duties or obligations other than those specifically set
forth herein, or as may subsequently be agreed to in writing by you and
Education Lending Group;

     (ii) will be regarded as making no representations or warranties and having
no responsibilities regarding the validity, sufficiency, value or genuineness of
any certificates for shares of Education Lending Group common stock surrendered
to you or the shares represented thereby delivered by you, will not be required
or requested to make any representations as to the validity, value or
genuineness of such certificates or account statements of shares of Education
Lending Group common stock; and will not be responsible in any manner whatsoever
for the correctness of the statements made herein or in the Prospectus or in any
document furnished to you by Education Lending Group;

     (iii) will not be obligated to institute or defend any action, suit or
legal proceeding in connection with the Exchange Offer, or your duties
hereunder, or take any other action which might in your judgement involve, or
result in, expense or liability to you, unless Education Lending Group first
furnishes you an indemnity satisfactory to you;

     (iv) may rely on, and shall be protected in acting upon, any certificate,
instrument, opinion, representation, notice, letter, telegram or other document
delivered to you and believed by you in good faith to be genuine and to have
been signed by the proper party or parties;

     (v) may rely on, and shall be protected in acting upon, written or oral
instructions given by any officer of, or any party authorized by Education
Lending Group with respect to any matter relating to your actions as Exchange
Agent;

     (vi) may upon prior agreement, consult with counsel satisfactory to you
(including counsel for Education Lending Group) and the advice or opinion of
such counsel shall be full and complete authorization and protection in respect
of any action taken, suffered or omitted by you hereunder in good faith and in
accordance with such advice or opinion of such counsel; and

     (vii) may retain an agent or agents of your choice to assist you in
performing your duties and obligations hereunder, at your cost and without
relieving you of any liability hereunder.

                                       4

<PAGE>

9.   Termination of Exchange Agent's Duties and Obligations.

     This agreement shall terminate when new certificates or book-entry account
statements, as the case may be, for all shares of Education Lending Group common
stock properly tendered to you shall have been issued.

10.  Indemnification of Exchange Agent.

     Education Lending Group hereby covenants and agrees to reimburse, indemnify
and hold you harmless from and against any and all claims, actions, judgements,
damages, losses, liabilities, costs, transfer or other taxes, and expenses
(including without limitation reasonable attorney's fees and expenses) which,
without gross negligence or willful misconduct on your part, may be paid,
incurred or suffered by you, or to which you may become subject, arising out of
or incident to this agreement or the administration of your duties hereunder, or
arising out of or incident to your compliance with the instructions set forth
herein or with any instructions delivered to you pursuant hereto, or as a result
of defending yourself against any claim or liability resulting from your actions
as Exchange Agent, including any claim against you by any tendering stockholder,
which covenant and agreement shall survive the termination hereof. You hereby
represent that you will notify Education Lending Group in writing by U.S. mail,
overnight courier, cable, telex confirmed by letter or facsimile, with
confirmation of receipt, of any receipt by you of a written assertion of a claim
against you, or any action commenced against you, within ten business days after
your receipt of written notice of such assertion or your having been served with
the summons or other first legal process giving information as to the nature and
basis of any such assertion; provided, however, that your failure to so notify
Education Lending Group shall not operate in any manner whatsoever to relieve
Education Lending Group from any liability which it may have on account of this
Section 10 if no prejudice occurs. At its election, Education Lending Group will
assume the conduct of your defense in any such action or claim at its sole cost
and expense. In the event that Education Lending Group elects to assume the
defense of any such action or claim and confirms to you in writing that the
indemnity provided for in this Section 10 applies to such action or claim,
Education Lending Group shall not be liable for the fees and expenses of any
counsel thereafter retained by you.

11.  Compensation and Expenses.

     For services rendered as Exchange Agent hereunder, your fees are approved
as set forth in Exhibit E to this agreement. Further, payment for invoices
generated will be paid within thirty days of such invoice date.

12.  Modification.

     Except as otherwise provided in Section 8(1) hereof, (i) the instructions
contained herein may be modified or supplemented only by the representative of
Education Lending Group named in Section 13 hereof and (ii) any inconsistency
between this agreement and the Prospectus shall be resolved in favor of the
Prospectus.

13.  Notices.

     Except as otherwise provided herein, no notice, instruction or other
communication by one party shall be binding upon the other party unless
hand-delivered, telecopied (with confirmation) or sent by

                                       5

<PAGE>

certified mail, return receipt requested. Notice to you shall be sent or
delivered to your above noted address, facsimile number or such other addresses
as you shall hereafter designate in writing. Notice to Education Lending Group
shall be sent or delivered to:

                  Douglas L. Feist
                  Executive Vice President, Secretary and General Counsel
                  12760 High Bluff Drive, Suite 210, San Diego, California 92130
                  (858) 617-6080 (phone)
                  (858) 617-6079 (fax)

14.  Governing Law; Successors and Assigns.

     This agreement shall be construed and enforced in accordance with the laws
of the State of Delaware, and shall inure to the benefit of, and the obligations
created hereby shall be binding upon, the successors and assigns of the parties
hereto.

     Please confirm your acceptance of the arrangements herein provided by
signing and returning to us the enclosed duplicates of this letter.

Very truly yours,

/s/ Douglas L. Feist
-----------------------------------
Education Lending Group, Inc.

By:     Douglas L. Feist
Title:  Executive Vice President, Secretary and General Counsel

AGREED AND ACCEPTED AS OF

June 3, 2003

Interwest Transfer Co., Inc.

By:    /s/ Kurtis D. Hughes
       ---------------------------------
Name:  Kurtis D. Hughes
       ---------------------------------
Title: V.P.
       ---------------------------------

                                       6<PAGE>

                                                                   Exhibit 10.23

                                     FORM OF
                                  MARKETING AND
                        ADMINISTRATIVE SERVICES AGREEMENT

         THIS MARKETING AND ADMINISTRATIVE SERVICES AGREEMENT, hereinafter
referred to as the "Agreement," is entered into on this _____ day of ________,
2003, by and between EDUCATION LENDING SERVICES, INC., a Delaware corporation,
doing business as "Consolidation Assistance Program, hereinafter referred to as
"CAP," having its principal place of business at 12760 High Bluff Drive, Suite
210, San Diego, California 92130, and ________________________________________,
hereinafter referred to as "Marketer," having its principal place of business at
___________________________________________________.

                                    RECITALS

         WHEREAS, CAP desires Marketer to market on behalf of CAP the federal
consolidation loans (hereinafter referred to as "Consolidation Loans") offered
and originated by CAP pursuant to the Federal Family Education Loan Program
(hereinafter referred to as "FFELP") to current and prospective customers of
Marketer in the form of leads and/or completed Consolidation Loan Applications;
and

         WHEREAS, Marketer desires to market on behalf of CAP the Consolidation
Loans offered by CAP using its lender name of "Consolidation Assistance
ProgramSM," on the terms and conditions hereinafter set forth.

         NOW, THEREFORE, in consideration of the foregoing and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties mutually agree as follows:

1.       MARKETING SERVICES.

         1.1 Marketer shall market to all of its current and prospective
customers utilizing its Website and direct marketing activities the
consolidation loans authorized under Sections 427 and 428 of the Higher
Education Act of 1965, as amended (hereinafter referred to as the "Act"), that
are offered by and meet CAP's consolidation loan criteria. Marketer agrees that
Marketer will not use the loan applications of CAP for any consolidation loan
not meeting such criteria or for any other lender.

         1.2 For the compensation set forth in section 2. below, Marketer shall
provide the marketing, administration, and related activities and/or services as
set forth in Exhibit 1.2 attached hereto and by this reference made a part
hereof.

         1.3 Marketer agrees that prior to the use by Marketer of any collateral
marketing material, whether written material or Website screens, specifically
utilizing CAP or

                                       -1-

<PAGE>

Consolidation Assistance Program names used in its marketing activities,
Marketer shall receive the prior written approval of CAP. CAP shall have five
(5) business days after receipt by CAP to respond in writing to Marketer whether
a respective submission is approved or denied. If Marketer does not receive a
response from CAP to the submitted collateral within the five (5) business day
period, then the specific submitted collateral material shall be deemed
approved.

         1.4 In addition to the activities and/or services set forth on Exhibit
1.2 attached hereto, Marketer shall be required to become reasonably
knowledgeable and current on the applicable procedures, policies, rules and
regulations concerning the marketing and availability of the educational loans
offered through the Federal Family Education Loan Program authorized by Title
IV-B of the Higher Education Act of 1965, as amended, as related to the student
loan services offered by or through CAP.

         1.5 Marketer shall provide CAP from its Website and/or internet and
direct marketing activities with qualified leads and/or completed Consolidation
Loan applications. For purposes of this Agreement, a "Qualified Lead" is a
prospective Federal Consolidation loan applicant that has met the qualification
criteria set forth in Exhibit 1.5 attached hereto and by this reference made a
part hereof, and a "Consolidation Loan Application" is a consolidation loan
application completed and executed by the respective borrower that is ready for
processing by CAP or its third party servicer as a FFELP consolidation loan.

         1.6 Within thirty (30) days after the execution of this Agreement,
Marketer shall provide or make available to CAP in the electronic format and
methodology set forth on Exhibit 1.6 attached thereto and by this reference made
a part hereof, entitled "Data Transfer Specifications," all Qualified Lead
and/or Consolidation Loan Application information relating to the information
sent to or received by CAP during the term of this Marketing Agreement. The
information and methodology for submitting the Qualified Lead information may be
modified by CAP at any time during the term hereof upon thirty (30) days prior
written notice to Marketer. Marketer hereby agrees that all of Qualified Lead
and/or Consolidated Loan Application information is confidential information and
shall only be transmitted, received, and/or maintained by Marketer in an
encrypted format or electronically secured environment reviewed by and approved
by CAP. All such confidential information shall not be transmitted or sent
outside the United States of American without the prior written permission of
CAP.

         1.7 CAP agrees to provide Marketer with detailed electronic information
each business day summarizing the status of all outstanding Applications by
Social Security Number. The electronic information shall be in the format and
contain the information set forth in Exhibit 1.7 attached hereto and by this
reference made a part hereof ("Application Information"). The Application
Information shall be provided to Marketer's FTP site each business day or daily
through the internet as such access is made available to Marketer by CAP. If
Marketer requests a change in the Application Information format, Marketer shall
compensate CAP at the rate of $200 per hour to implement such change, subject to
the CAP's prior written or e-mail approval of the requested change, and if so
approved by CAP, the subsequent approval by Marketer of the time required for
ELServices to implement such requested change, whether in writing or by e-mail.

                                       -2-

<PAGE>

2.       COMPENSATION TO MARKETER.

         2.1 CAP shall pay Marketer a "Marketing Fee" in the amount set forth in
Exhibit 2.1 attached hereto and by this reference made a part hereof for each
completed Consolidation Loan application ("Completed Application") resulting
from the marketing, administration, and related activities of Marketer as set
forth in Exhibit 1.2 attached hereto.

         2.2 For purposes of this Agreement, a "Completed Application" shall
mean a FFELP consolidation loan application received and processed by CAP, or
its third party service provider(s), wherein all the Loan Verification
Certificates ("LVCs") for a respective Consolidation Loan application have been
received and the application is ready to be guaranteed by a guarantor and funded
by CAP as a FFLEP consolidation loan.

3.       PAYMENT OF COMPENSATION.

         3.1 Except as specifically set forth in Exhibit 2.1 attached hereto,
all compensation due Marketer for Completed Applications shall be paid within
thirty (30) days after the end of the prior calendar month during the term of
this Agreement for which a payment is due Marketer. Each monthly payment shall
be accompanied by a report indicating the number of Completed Applications
received by CAP from the marketing and administrative activities of Marketer for
the respective prior calendar month period.

4.       COMPLIANCE.

         4.1 The parties intend and in good faith believe that the fees to be
paid hereunder reflect reasonable compensation by CAP for the marketing,
administration, and related services and/or activities of Marketer as set forth
in this Agreement. Such payments of compensation are intended to comply with
Section 435(d) (5) of the Higher Education Act of 1965, as amended, and the
regulations, policy statements, and pronoucements of the U.S. Department of
Education, and all such compensation shall be immediately discontinued if the
Department of Education informs either party hereto that such payments do not
comply with that section of the Higher Education Act, unless an alternative
compensation arrangement is acceptable to the parties and approved by the
Department of Education or by the opinion of counsels for both parties.

5.       TERM AND TERMINATION.

         5.1 The term of this Agreement shall be for the period beginning on the
date of this Agreement and ending _________________, unless terminated prior
thereto in accordance with the terms of this Agreement.

         5.2 CAP may terminate this Agreement upon thirty (30) days prior
written notice to Marketer if:

             a.   [insert terms of termination specific to Marketer];

                                       -3-

<PAGE>

             b.   [insert loan application volume specific to Marketer];

             c.   In the reasonable judgment of CAP the occurrence of one of the
following events adversely affects the rate of return or value of Consolidation
Loans: (i) an amendment to or other legislative or executive action affecting
the Higher Education Act, (ii) any tax law applicable to the operations of the
CAP or any other applicable law or regulation, or (iii) any implementation or
interpretation of any existing provision of the Higher Education Act, including
but not limited to a determination by the Secretary pursuant to Section 427A(h)
of the Higher Education Act that changes the basis for determining the rate of
interest for Consolidation Loans.

         5.3 Marketer may terminate this Agreement upon thirty (30) days prior
written notice to CAP should CAP fail to make timely payment of the compensation
to Marketer in accordance with Section 3. above, and such breach for non-payment
is not cured within fifteen (15) days after written notice is received by CAP.

         5.4 Upon written notice to Marketer by CAP of a material breach of the
terms of this Agreement, Marketer shall cease all marketing activities on behalf
of CAP under the terms of this Agreement until such time as the breach is cured
by Marketer, but not later than thirty (30) days after such written notice is
received. If the material breach is not cured by Marketer within the thirty (30)
day period, CAP shall have the right to terminate this Agreement at anytime
thereafter upon written notice to Marketer. For purposes of this Agreement, a
"material breach" shall include, but not limited to, the violation of any
federal and state law regarding the privacy of customer information and
violation of the use of the marks of CAP as set forth in Section 6. below.

         5.5 In the event (i) of a sale or distribution of all or substantially
all of the assets of Marketer or a sale or distribution of sufficient stock
(other than pursuant to a public offering) or membership interests, as the case
maybe, of Marketer to effect a change in control or (ii) that Marketer or its
affiliates enters into the business of providing FFELP student loans services or
a product(s) or services substantially similar to those student loan products or
services of CAP or its affiliates, CAP may, in its sole discretion, terminate
this Agreement immediately upon written notice to Marketer.

         5.6 Either party may terminate this Agreement with immediate effect:
(i) upon the institution by the other party of proceedings to be adjudicated a
bankrupt or insolvent, or the consent by the other party to institution of
bankruptcy or insolvency proceedings against it or the filing by the other party
of a petition or answer or consent seeking reorganization or release under the
Federal Bankruptcy Code, or any other applicable Federal or state law, or the
consent by the other party to the filing of any such petition or the appointment
of a receiver, liquidator, assignee, trustee, or other similar official of the
other party or of any substantial part of its property, or the making by the
other party of an assignment for the benefit of creditors, or the admission in
writing by the other party of an assignment for the benefit of creditors, or the
admission in writing by the other party of its inability to pay its debts
generally as they become due or the taking of corporate action by the other
party in furtherance of any such actions; (ii) if, within

                                       -4-

<PAGE>

sixty (60) days after the commencement of an action against the other party
seeking any bankruptcy, insolvency, reorganization, liquidation, dissolution or
similar relief under any present or future law or regulation, such action shall
not have been dismissed or all orders or proceedings hereunder affecting the
operations or the business of the other party stayed, or if the stay of any such
order or proceeding shall thereafter be set aside; or if, within sixty (60) days
after the appointment without the consent or acquiescence of the other party of
any trustee, receiver or liquidator or similar official of the other party, or
of all or any substantial part of the property of the other party, such
appointment shall not have been vacated.

6.       USE OF MARKS.

         6.1 CAP owns certain marks, including the word mark EDUCATION LENDING
SERVICES and CONSOLIDATION ASSISTANCE PROGRAM and associated logos (such
specifically identified marks herein collectively referred to as the "Marks").
Marketer acknowledges and agrees that any use of the Marks shall be in a form
and in a medium as approved from time to time by CAP. Marketer further agrees
that CAP has the right to seek and obtain injunctive relief for any violation by
the Marketer, its agents and assigns, of Marketer's obligations hereunder. CAP
hereby grants to Marketer a non-exclusive, nontransferable license to use the
Marks in connection with its website and direct mail financial aid information
marketing activities solely in manner approved by CAP in accordance with the
terms of this Agreement, and Marketer accepts this license subject to the terms
and conditions set forth in paragraph 6.4. below.

         6.2 Any and all materials used by Marketer to solicit or contact its
customers on behalf of CAP using the Marks or related trademarks and/or service
marks, including all written materials and/or Website screens, shall be subject
to the prior written approval of CAP.

         6.3 Upon termination of this Agreement, Marketer agrees to immediately
discontinue all use of the Marks or any term and/or logo confusingly similar
thereto, and to destroy all materials and Website screens in its possession
bearing the Marks. Marketer further agrees to verify to CAP its compliance with
the above in the form of a notarized statement to be deliverable to CAP within
thirty (30) business days after the termination of this Agreement.

         6.4 Marketer acknowledges the ownership of the Marks in CAP, and agrees
that it will do nothing inconsistent with such ownership, and that all use of
the Marks by Marketer shall inure to the benefit of and be on behalf of CAP. The
license granted hereunder shall not give Marketer any right, title, or interest
in the Marks other than the right to use the Mark in accordance with the terms
of this Agreement, and Marketer agrees that it will not attack the title of CAP
to the Marks or attack the validity of the license granted hereunder.

         6.5 Notwithstanding any other provision of this Agreement to the
contrary, neither party shall have the right to use the other party's registered
or unregistered trademarks, service marks, or trade names, or to refer to the
other party directly or indirectly, in connection with any product, promotion or
publication without the prior written approval of that party. Each party

                                       -5-

<PAGE>

acknowledges that any prior consent of use or reference may be revoked at any
time with immediate effect.

7.       WARRANTIES.

         7.1 Each party represents and warrants that the performance of its
obligations under this Agreement complies with all applicable federal, state,
local, and foreign laws and regulations. Each party covenants to inform the
other party immediately of any changes in such laws or regulations of which it
shall have knowledge and which may require a change in the performance
obligations hereunder.

         7.2 Each party represents and warrants that it is a duly organized
limited liability company or corporation and in good standing in the state of
its organization. Each party further represents and warrants that it has the
full power and authority to execute this Agreement and to take all actions
required by, and to perform the agreements contained in this Agreement, and that
each party's obligations under this Agreement do not conflict with its
obligations under any other agreement to which it is a party.

8.       INDEMNIFICATION AND HOLD HARMLESS.

         8.1 Each party shall indemnify and hold harmless the other party, its
parent, subsidiaries, affiliates, successors, assignees, managers, directors,
officers, agents, and employees (each an "Indemnitee) from and against any loss,
damage, cost, expense, liability, and settlement, including without limitation,
any reasonable attorney fees and court costs (each of the foregoing a "Claim")
reasonably incurred by any Indemnitee which Claim arises out of or in connection
with (i) the intentional or negligent act or omission of the other party, or its
officers, directors, managers, employees, contractors, or agents (collectively,
the "Agents") in the course of the performance of each parties duties and
obligations under this Agreement; (ii) the material failure of a party and its
Agents, as the case may be, to comply with the terms of this Agreement; or (iii)
the material failure of a party (including without limitation its Agents who
perform on behalf of the party hereunder) to comply with its obligations under
any and all laws, rules, or regulations applicable to a party or its Agents as
the case may be.

         8.2 Each Indemnitee seeking indemnification under this Agreement shall
give prompt notice to the respective party (the "Indemnitor") along with such
Indemnitee's request for indemnification, of any Claim for which it is seeking
indemnification. The parties understand and further agree that no settlement of
an indemnified Claim shall be made by an Indemnitee without the concurrence of
the Indemnitor. The Indemnitor shall control the settlement or defense of any
Claim; provided, however, that the Indemnitee may, at its cost, engage its own
attorneys. The Indemnitee will fully cooperate with the Indemnitor to enable it
to fulfill its obligations with respect to such Claim.

         8.3 The provisions of this section 8. shall survive the termination of
this Agreement.

                                       -6-

<PAGE>

9.       LIMITATION OF LIABILITY.

         9.1  IN NO EVENT SHALL ANY PARTY HERETO (INCLUDING WITHOUT LIMITATION
THE AGENTS AND EMPLOYEES THEREOF) BE LIABLE TO THE OTHER PARTY (INCLUDING
WITHOUT LIMITATION THE AGENTS AND EMPLOYEES THEREOF) FOR ANY SPECIAL, INCIDENTAL
OR CONSEQUENTIAL DAMAGES, EVEN IF SUCH PARTY SHALL HAVE BEEN ADVISED OF THE
POSSIBILITY OF SUCH POTENTIAL LOSS OR DAMAGE.

         9.2  EXCEPT AS OTHERWISE EXPRESSLY STATED HEREIN, THE AGGREGATE
LIABILITY OF EITHER PARTY HERETO (THE "LIABLE PARTY") TO THE OTHER PARTY HERETO
(INCLUDING WITHOUT LIMITATION THE AGENTS AND EMPLOYEES THEREOF) IN CONNECTION
WITH THIS AGREEMENT, SHALL NOT EXCEED THE AMOUNT PAID OR OWING AND UNPAID BY
CAP UNDER THIS AGREEMENT, REGARDLESS OF THE FORM OF ACTION GIVING RISE
TO SUCH LIABILITY (WHETHER IN CONTRACT, TORT OR OTHERWISE).

         9.3  THE LIMITATION SET FORTH IN SECTION 9.2 ABOVE SHALL NOT APPLY TO
DAMAGES ARISING DIRECTLY FROM (i) THE BREACH BY THE LIABLE PARTY OF ITS
OBLIGATIONS UNDER SECTIONS 6. MARKS AND 10. CONFIDENTIALITY HEREOF, (II) A
NON-AFFILIATED THIRD PARTY CLAIM OR (III) THE INTENTIONAL OR GROSSLY NEGLIGENT
ACT OR OMISSION OF THE LIABLE PARTY IN THE COURSE OF THE PERFORMANCE OF ITS
DUTIES OR OBLIGATIONS UNDER THIS AGREEMENT.

         9.4  The provisions of this Section 9. shall survive the termination of
this Agreement.

10.      CONFIDENTIALITY.

         10.1 General: This Agreement and the information furnished each other
prior to or after the execution of this Agreement, except as may be otherwise
required by statute, for financial reporting purposes, court order, or as may be
necessary to the performance of the services required under this Agreement,
shall be held in strict confidence by each party as proprietary information.

         10.2 Termination of Agreement: Upon termination or expiration of this
Agreement and at the request and option of Marketer or CAP, as the case may be,
the other party agrees promptly (i) to return the confidential information of
the other party to such party or (ii) destroy the confidential information of
the other party and acknowledge in a sworn affidavit that all such confidential
information has been destroyed.

11.      PUBLICITY.

         11.1 Except as may be required by law, no party hereto shall issue
advertising, promotional activity, press, or publicity release relating to the
provisions of this Agreement or the

                                       -7-

<PAGE>

other party, including the affiliates of either party, without securing the
prior written consent of such other party.

12.      GOVERNING LAW.

         12.1 Except as otherwise required by federal law, this Agreement shall
be governed by and construed in accordance with the laws of the State of
Delaware, without reference to its conflict of laws principals. At the sole
discretion of Grad Partner, the County of San Diego may be the proper venue for
all purposes under this Agreement.

13.      ASSIGNMENT.

         13.1 Neither party may assign or transfer this Agreement, or the rights
hereunder, to any party without the prior written consent of the other party,
except that CAP may assign or transfer this Agreement to its parent, a
subsidiary or an affiliate thereof without Marketer's prior written consent.
Such consent shall not be unreasonably withheld by the non-requesting party. For
purposes of this paragraph a "transfer" shall include a transfer or sale of more
than fifty percent (50%) of the ownership interests in either party, whether by
sale or transfer of stock, membership interests, or the assets of the respective
party.

14.      NOTICES.

         14.1 All notices required hereunder must be in writing and will be
deemed to have been given when delivered personally or received by a overnight
delivery service, or three (3) days after being deposited in the U.S. Mail,
certified or registered, return receipt requested, postage prepaid, at the
addresses first listed above or such other address as the parties may designate
from time to time in writing during the term hereof. Notwithstanding the
foregoing, any notice shall also be transmitted by facsimile to the receiving
party on the day the respective notice is deposited in the U.S. mail by the
forwarding party.

15.      ALTERNATIVE DISPUTE RESOLUTION.

         15.1 Negotiation: The parties shall attempt in good faith to resolve
any dispute arising out of or relating to this Agreement (other than disputes
regarding material breaches) promptly by negotiations between executives who
have authority to settle the controversy. Any party may give the other party
written notice of any dispute not resolved in the normal course of business.
Within twenty (20) days after delivery of said notice, executives of both
parties shall meet at a mutually acceptable time and place, and thereafter as
often as they reasonably deem necessary, to exchange relevant information and to
attempt to resolve the dispute. If the matter has not been resolved within sixty
(60) days of the disputing party's notice, or if the parties fail to meet within
twenty (20) days, either party may initiate mediation of the controversy or
claim as provided hereinafter. If a negotiating party intends to be accompanied
at a meeting by an attorney, then the other negotiating party shall be given
advance notice of such intention and may also be accompanied by an attorney. All
negotiations pursuant to this clause shall be deemed

                                       -8-

<PAGE>

confidential and shall be treated as compromise and settlement negotiations for
purposes of the Federal Rules of Evidence and state rules of evidence.

         15.2 Mediation: If the above referenced dispute has not been resolved
by negotiation as provided above, the parties shall endeavor to settle the
dispute by mediation under the then current Center for Public Resources ("CPR")
Model Procedure for Mediation of Business Disputes. One neutral third party will
be selected from the CPR Panels of Neutrals to mediate the dispute. If the
parties encounter difficulty in agreeing on a neutral, they will seek the
assistance of CPR in the selection process.

         15.3 Other Remedies: In the event of a dispute arising out of or
relating to this contract or the breach, termination or validity thereof, which
has not been resolved by non-binding means as provided in Sections 15.1 and 15.2
above within sixty (60) days of the initiation of such procedure, either party
may seek any remedy available at law or equity, including recourse to the
courts.

16.      NO IMPLIED WAIVER.

         16.1 Any waiver or modification, expressed or implied, by either party
of any breach of this Agreement shall not be construed to be a waiver of any
such breach or any acquiescence thereto, nor shall any delay or omission by such
party to exercise any right arising from any such breach affect or impair the
respective party's right to such breach or any future breach. All rights and
remedies hereunder are cumulative and are not exclusive of any other rights or
remedies provided hereunder or by law.

17.      CONSTRUCTION.

         17.1 In the event it is determined that this Agreement or any part of
this Agreement is or would be declared invalid for any reason, the parties agree
to execute as soon as possible a new Agreement, in whole or in part,
reestablishing, to the extent allowed, the intent of the parties when the
original Agreement was entered into by them.

18.      COUNTERPARTS.

         18.1 This Agreement may be executed in one or more counterparts, each
of which shall constitute an original, but all of which together shall
constitute one and the same instrument notwithstanding that all parties are not
signatories to the same counterparts.

19.      BENEFIT.

         19.1 This Agreement shall be binding upon and insure to the benefit of
the parties thereto and their respective successors and assigns in consideration
of the mutual promises and previously provided services described herein.

                                       -9-

<PAGE>

20.      ENTIRE AGREEMENT.

         20.1 This instrument contains the entire agreement of the parties
hereto and supersedes all prior negotiations, understandings, letters,
arrangements, and agreements between them concerning the subject matter
contained herein.

21.      HEADINGS.

         21.1 Headings stated in this Agreement are for convenience of reference
only and are not intended as a summary of such sections and do not affect,
limit, modify, or construe the contents thereof.

         IN WITNESS THEREOF, the parties have executed this Marketing and
Administrative Services Agreement on the date first set forth above.

CAP:                                        Marketer:

EDUCATION LENDING SERVICES, INC.            __________________________________
a Delaware corporation
dba "Consolidation Assistance Program"

By:__________________________________       By:_________________________________

                                      -10-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}]]