SOURCE: Next Generation Financial Services

November 27, 2007 08:00 ET

Next Generation Financial Services and SAGE Scholars Team Up to Provide Over 50 Million Dollars in Scholarship Funds to All Reverse Mortgage Clients' Grandchildren

BALTIMORE, MD--(Marketwire - November 27, 2007) - Next Generation Financial Services, one of the leading providers of Reverse Mortgages for seniors, and SAGE Scholars have teamed up to provide potentially over $50 million in scholarships for the grandchildren of all current and future Reverse Mortgage clients.

Dr. James B. Johnston, the founder and architect of SAGE Scholars, is pleased to announce this strategic partnership between NGFS and SAGE. "Offering $5000 scholarships to each grandchild of a Reverse Mortgage client makes sense for the whole family. Now grandparents have a way to contribute to their grandchildren's higher education regardless of their financial situation. There are over 200 private colleges across the country that offer these scholarships. We are excited about this opportunity for hundreds of grandchildren across the country," states Johnston.

Douglas McLain and Frank Neubauer of Next Generation Financial Services are excited about the opportunity this presents to so many families. "No other Reverse Mortgage provider across the country offers scholarship rewards for clients' grandchildren. We have always prided ourselves on being innovative, and on helping all generations of family members with cash flow planning. This is evidenced by our commitment to long-term care planning for all generations, our CASH Asset Manager mortgage product for all generations and our Reverse Mortgage products for seniors. Now we can add the grandchildren and great-grandchildren to that effort by providing scholarship rewards," says McLain.

Next Generation Financial Services has written approximately 3000 Reverse Mortgages over the last 5 years. Scholarships in the amount of $5000 will be awarded to any grandchild or great-grandchild of a client who has completed a Reverse Mortgage through NGFS. Moving forward, each new Reverse Mortgage client will be offered the same opportunity. The scholarships can be used at any one of the 200 participating colleges listed at Colleges reserve the right to treat the awards as part of, or separate from, institutional financial aid.

SAGE Scholars ( is an education funding and information provider specializing in college savings and tuition planning. SAGE uniquely brings together scholarships, 529s and other investments, and college search tools to help families and financial professionals plan for college expenses.

Next Generation Financial Services (NGFS) ( was formed to create a delivery channel for financial strategies that blend traditional banking products and services with insurance and estate planning products and services. The strategies are applicable to almost every individual, including consumers who have generally been ignored by the financial planning community. Reverse Mortgages and the CASH Asset Manager mortgage products are the primary focus of NGFS.

NGFS uses creative financial techniques that have a proven ability to help consumers achieve their financial goals. These goals could range from paying off their mortgage early, funding a family member's education, increasing their retirement income, obtaining long term care or a variety of other financial goals.

For more information about Tuition Rewards through Reverse Mortgages and NGFS, visit and speak to a representative in your local area.

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