STUDENT PLUS LOAN APPLICATION FORM

ELIGIBILITY CONDITIONS: Nurses Applying For Student Plus Loan Program Before Student Plus student loans are approved by the Lender, applicants must abide by the conditions outlined below: hereinafter called

Applicants must be currently enrolled students of Sky University School (Country) hereafter referred to as Sky University; Applicants may not apply for a Student Plus student loan if they already have an outstanding debt or other loan within Sky University; Applicants are required to provide a guarantor and co-obligation of parents/guardians for loans without acceptable security; Applicants must supply proof of admission and tuition invoice; Proof of residency (Paid utility bill for last 3 months); 1 passport size picture and picture ID (Drivers Licence, Passport); Copy of Tax Registration Number. Assignment of future Income of the student for payment of Installments.

ELIGIBILITY CONDITIONS: Acceptable Collateral Acceptable forms of security for the Student Plus Loan Program are: Motor Vehicle 200X or newer; does not have to be owned by primary borrower; Bank CD or Investment (85% of value); Mutual Fund or Unit Trust Investment (65% of Market value); Credit Union Shares (85% of value); Investment in shares (50% of Market Value).

For motor vehicles, 5 to 3 years old 65%, 2 years 75%, New 80%. ELIGIBILITY CONDITIONS: Acceptance of the Guarantor If acceptable collateral is not available, Lender may consider 2 guarantors vouching for the applicants reliability to repay the loan in full by the agreed term. If the applicant cannot meet the Terms and Conditions of the Student Plus Student Loan Agreement, the guarantors become legally responsible for ensuring the Student Plus Student Loan is repaid immediately. In order for a guarantor to be accepted by the Lender, the guarantor is obligated to carry out the following: Supply details of employer, job title, contact telephone number at work and home, contact address, relationship to the applicant and provide proof of full time employment, such as a payslip; Sign the Student Plus Loan Agreement and Conditions form, before the student loan is accepted; and Advise the Lender immediately of any changes to work or home details.

Before the acceptance of the guarantor is granted, the guarantor will be contacted to verify that: The guarantor must: Be over the age of eighteen; Not be a lecturer or other staff member of Sky University; Reside within Country Not apply for a Student Plus Loan or act as a guarantor for any other person; and Not be financially related to the applicant (for example the spouse of an applicant would not be accepted as a guarantor).

ELIGIBILITY CONDITIONS: Acceptance of a Referee A referee (different from Guarantor) is requested for all Student Plus Loans. The purpose of a referee is to vouch for the applicants reliability to repay the loan in full within the agreed terms. The referee must provide their name, address, contact telephone number and employer/occupation details. The referee may be contacted to verify details.

TERM OF THE STUDENT LOAN: The maximum loan period of the Student Plus Student Loan is 24 months from the date the loan is accepted. At the very minimum, interest on the loan plus a minimum stipulated principal repayment must be paid monthly with the full amount (principal and interest) repaid within the specified term agreed by the Lender and the applicant. PURPOSE OF THE LOAN: The loan will be used partially cover tuition expenses related to the Nurses (CERTIFICATION) Program offered by Sky University and for which you have been accepted for admission. RATE OF INTEREST The rate of interest is between XX%p.a. and XX%p.a. depending on the perceived risk. The rate of interest is subject to change based on market conditions. SECURITY DEPOSIT: A security deposit of J$50,000 is required on all Student Plus Loans. The amount is held as security for the life of the loan and can only be: Offset against distressed loan balances at the discretion of the lender; Used to completely settle the remaining balance on a loan; or Refunded on satisfactory repayment of all principal and interest on a loan facility.

PROCESSING FEES: All Student Plus Student Loans are subject to a one-time J$4,000 processing non-refundable fee. DISBURSEMENT: The proceeds of the loan will be paid over to Sky University for partial payment of tuition fees pertaining to the Nurses (CERTIFICATION) Program you have enrolled in.

LOAN REPAYMENT Loan repayments starting immediately will be made directly to the Lenders bank account or other approved method. While placed overseas, the same applies with the Lender reserving the right to appoint a Collections Agency to act on its behalf. OTHER MANDATORY PAYMENTS Successful applicants will be required to make an additional principal payment of J$50,000 (ad hoc) over the first nine months of the loan. INTEREST ADDED TO THE LOAN: There is no interest added to the loan amount during the loan period.

RENEGOTIATION OF THE STUDENT LOAN: If the applicant has financial issues during the loan period, the applicant has the option to renegotiate the term of the loan. Within each loan, the applicant is allowed one renegotiation. The applicant must make an appointment with the Student Plus Student Loans Officer to discuss the renegotiation. The maximum term of a student renegotiation is a further 6 months. EARLY REPAYMENT OF STUDENT LOAN: Loans can be repaid ant any time partial or full without penalty.

WHAT IF STUDENT LEAVES STUDY OR DEFERS: Immediate repayment of the loan is expected from the applicant if the applicant leaves or defers from study. NOTIFICATION OF CHANGES: Any changes of address, financial status or enrolment must be made in writing to the Lender. CANCELLATION FEE: There may be a cancellation fee charged to applicants should they change their mind after the preparation of the loan. Ask the Lender for details. FAILURE TO REPAY THE LOAN: If the Student Plus Loan is not adequately serviced during the period of study, Reva will seek to have Sky University withhold the Academic record of the student. The student will not be eligible to graduate from the program until the debt is adequately serviced. Failure to adequately service the loan during work overseas (typically as a Nurses (CERTIFICATION) in Country) will lead to garnishing of wages by the Lender along with other legal measures necessary in collecting the debt. Should the loan not be repaid by the due date (and no contact has been made with the Lender), a Payment Demand letter will be sent. If payment is not received within 14 days of this letter, the Lender will begin debt collection proceedings, which will incur additional expenses to you, the student. Your guarantor is legally responsible if you fail to repay the loan. OTHER DOCUMENTATION Apart from the documentation included in this loan application package, the Lender may require the student to sign additional documentation to provide additional information or perfect the collateral taking on the loan facility.

FORM A - CONFIDENTIAL
STUDENT PLUS LOAN APPLICATION SECTION A PERSONAL DETAILS First Name __________________________________________ Family ___________________________________ Postal Address _________________________________________________ Phone (W) ______________________ Home Address __________________________________________________ Phone (H) _____________________ Email Address __________________________________________ Mobile Number __________________________ STUDENT NUMBER ____________________________ Course Code _____________________ Year __________ SECTION B FINANCIAL DETAILS Complete the following, giving figures to the nearest dollar ESTIMATED WEEKLY INCOME Wages (after tax) Casual Employment (after tax) _____________ _____________ _____________ _____________ _____________ _____________ TOTAL _____________ TOTAL ESTIMATED WEEKLY COMMITMENTS Rent / Board Living Expenses _____________ _____________

Loan repayments (other than this) _____________ Car / House / Furniture Other _____________ _____________ _____________ _____________

SECTION C LOAN INFORMATION Loan Amount Required $__________________ Purpose of the Loan ______________________________________ Repayments will be made $ _______________ weekly / fortnightly / monthly, beginning _______________________ This loan will be repaid in full on or before the __________ day of _____________________________ XX_____ SECTION D REFEREE The following person may be contacted by the University to verify the information given by me. Name __________________________________________ Contact Telephone Number _____________________ Address ______________________________________________________________________________________ LOANS WITHOUT ACCEPTABLE COLLATERAL WILL REQUIRE SIGNED STATEMENTS BY GUARANTORS (See FORM B) SECTION E DECLARATION I declare that I am an approved student at Sky University, with permanent residency in Country. I have completed and signed the AGREEMENT AND CONDITIONS FORM (Form B) and declare that the information I have given is true and complete at the time of this declaration. Signature of Applicant ____________________________ Date _________________ Witness __________________ SECTION F FOR OFFICE USE ONLY CREDIT CLEARANCE YES / NO Recommended Amount $_____________________

Interviewing Officers Signature ______________________________________ Date ________________________ APPROVED / NOT APPROVED Lender (Officer Responsible) ___________________________________ Date _________ _________

FORM B - CONFIDENTIAL
STUDENT PLUS LOAN AGREEMENT AND CONDITIONS

In consideration of a loan of (amount in words) _______________________________________________________ ($_________________) being made to me by the Lender, I ______________________________ of (residential address) _______________________________________________________________________ agree that the terms and conditions of the agreement for a loan between myself and the Lender are as follows: 1. I will repay the said loan plus any interest, calculated at the agreed rate of within the agreed period (subject to change),

2.

I will repay the instalments as outlined on Form A (Section C)

3.

I will immediately advise the Lender in writing of any changes in: (i) (ii) (iii) (iv) Financial Status Residential Address Enrolment Status at the Sky University Guarantor Status

4.

I also agree that (a) Should I cease to be a student of Sky University (i) The Lender may demand immediate repayment of any outstanding loan; or (ii) The Lender may re-negotiate the loan repayments so that the loan can be repaid over a different loan period at the rate commensurate with current market personal loan rates.

(b) Should I make default in any term or condition of the loan I may (i) have all awards, transcripts and references withheld; and/or (ii) be prevented from re-enrolling; and/or (iii) have legal action taken against me to secure repayment; and/or (iv) have action taken under the Sky University By-Laws.

5.

I have read and understood the entire Loan Application package and agree to abide completely to the contents therein.

Signature of Applicant ______________________________________________ Date ________________________

Witness (Loans Officer) _____________________________________________ Date ________________________

FORM C - CONFIDENTIAL
STUDENT PLUS LOAN AGREEMENT AND CONDITIONS LOAN GUARANTOR (This form must be presented personally by the Guarantor and witnessed by the Loan Officer) LOAN DETAILS: Name of Person requesting Loan: _____________________Amount Requested: $__________ GUARANTOR PERSONAL DETAILS: Full Name: _________________________________________________ Home Address: _______________________________________________________________________________ _____________________________________________________________________________________________ Home Telephone No: ______________________________ Mobile No.: ________________________________

How long have you lived at your current address: __________________________________________________ (If less than 3 years, please provide previous addresses and dates for the last 3 years: ____________________________________________________________________________________________ _____________________________________________________________________________________________ _____________________________________________________________________________________________ GUARANTOR EMPLOYMENT STATUS: GUARANTOR EMPLOYMENT DETAILS Name of Employer: ____________________________________________________________________________ Work Address: ________________________________________________________________________________ Job Title: ___________________________ Commencement Date of Employment_________________________ Telephone No.: _____________________________________ Payroll No.: ________________________________ RELATIONSHIP TO PERSON REQUESTING LOAN:
_______________________ Work Colleague:

Full-Time Employee:

Part-Time Employee:

Spouse/Partner:

Other Relative:

Please Specify

Friend:

Other:

Please Specify _________________

TRN:

PROOF OF IDENTIFICATION: PROOF OF IDENTIFICATION:

Drivers License: Latest Payslip:

Current Signed Passport:

Current Contract:

PROOF OF ADDRESS: Latest Utility Bill GUARANTEE DECLARATION

Bank Statement Tenancy Agreement Mortgage Statement

I DECLARE that I am in good health and fit to follow my normal occupation. I agree to act as guarantor for the above loan. I understand that I shall be liable for the debt in full and any unpaid amounts as if I were the principal debtor. I will pay any costs, charges and expenses, which you may incur as a result of default on the part of the student. I HEREBY GUARANTEE the due and punctual repayment of the loan and any associated interest to the Lender. This is a continuing guarantee and shall not be affected by any indulgence shown by you to the applicant

Date ___________________________ Signature of Guarantor __________________________________________ Signature of Witness ______________________________ Name of Witness _______________________________ Address of Witness _____________________________________________________________________________

INDEMNITY FORM - CONFIDENTIAL

STUDENT I agree to indemnify the Lender against all debt collection costs, solicitors costs and any disbursements incurred as a result of my non-payment of monies owed to the Lender. Name of Applicant _________________________________ Signature of Applicant __________________________ Name of Witness __________________________________ Signature of Witness ___________________________ Date __________________________________________ GUARANTOR I agree to indemnify the Lender against all debt collection costs, solicitors costs and any disbursements incurred as a result of my non-payment of monies owed to the Lender by: (Name of Applicant) _____________________________________________________________________________ Name of Guarantor ________________________________ Signature of Guarantor __________________________ Name of Witness __________________________________ Signature of Witness ___________________________ Address of Witness _____________________________________________________________________________ Date __________________________________________

ACTION TAKEN AGAINST THE STUDENT: Refusal to adequately service or repay the loan in full, in accordance with all the Terms and Conditions can result in the withholding of study/academic records. This can also obstruct the administration process in relation to the course completion and overseas job placement until the loan has been placed in good standing or repaid in full.

ACTION TAKEN AGAINST THE GUARANTOR: Refusal to repay the student loan in full in accordance with the Terms and Conditions of the Student Plus Loan will result in the Guarantor facing legal action and or being referred to Debt Collection.

STUDENT I understand and accept the Terms and Conditions of the Student Plus Loan Program. Name of Applicant _________________________________ Signature of Applicant __________________________ Name of Witness __________________________________ Signature of Witness ___________________________ Date __________________________________________

GUARANTOR Name of Guarantor ________________________________ Signature of Guarantor __________________________ Name of Witness __________________________________ Signature of Witness ___________________________ Address of Witness _____________________________________________________________________________ Date __________________________________________