SOURCE: Education Finance Partners

March 20, 2008 13:44 ET

Education Finance Partners Hires Chief Operating Officer to Support 2008/2009 Growth

Steve Allocca, Former Head of Personal Credit at Wells Fargo, Joins Fourth Largest Private Student Loan Company

SAN FRANCISCO, CA--(Marketwire - March 20, 2008) - Education Finance Partners, the fourth largest originator of private student loans, announced today that Steve Allocca has joined the company's executive management team. As chief operating officer, Allocca reports directly to Tamera Briones, chief executive officer, and is responsible for running the day-to-day elements of the business. His primary responsibilities are to lead loan originations, loan servicing, sales, marketing, technology, and administration.

"The recent market dislocation provides us with a significant opportunity to seize market share," stated chief executive officer, Tamera Briones. "Steve's leadership skills and track record for bottom line results are exactly what we need to enhance our position as a market leader in private student loans."

Prior to joining Education Finance Partners, Mr. Allocca was head of non-mortgage consumer lending for Wells Fargo Bank where he led all aspects of the $8 billion business including six operating centers throughout the United States.

"I have watched Education Finance Partners for the past three years and have been impressed with its strategy and remarkable success," commented Mr. Allocca. "I look forward to helping the company achieve its business goals and continue to gain market share."

About Education Finance Partners:

Headquartered in San Francisco with operations in Austin, Texas, Education Finance Partners is a full service consumer loan company focused exclusively on providing private student loan solutions that enable students and their families to bridge the gap between the cost of traditional financial aid (federal loans, scholarships, grants, work study) and the total cost of a higher education. The company is the fourth largest originator of private student loans, serving a nationwide customer base through some of the most prestigious colleges and universities in the country. More information is available by calling 866.308.1070 or visiting http://www.EducationFinancePartners.com.

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