SOURCE: Education Finance Partners

May 02, 2006 00:00 ET

Education Finance Partners Launches Private Consolidation Loan

Offering Borrowers the Choice of a Fixed or Variable Interest Rate

SAN FRANCISCO, CA -- (MARKET WIRE) -- May 2, 2006 -- Education Finance Partners, a private education loan company providing consumer lending expertise, announces the launch of a groundbreaking private consolidation loan offering borrowers the option of a fixed or variable interest rate. This product gives borrowers the ability to refinance their existing private student loans (also called alternative loans) into one new loan offering lower monthly payments, potentially lower interest rates, and the convenience of a single monthly payment.

"As people leave school and take on greater financial responsibility, our private consolidation loan allows borrowers to manage their monthly expenses more sensibly," stated Tamera Briones, Chief Executive Officer of Education Finance Partners. "We recognize that recent graduates have different needs than students, so we created a loan that offers repayment options that reflect their current circumstances."

Greater Choice Allows for Needed Flexibility

The Education Finance Partners Private Consolidation Loan provides unparalleled options in repaying private loans. In addition to interest rate options, borrowers receive a standard 30-year loan term and can choose from a variety of repayment plans. Borrowers returning to school have the option to defer payments. As a result, borrowers can match their loan payments to their personal situation, rather than matching their life to their loan payments.

Walter Cathie, Dean of University Financial Aid at Widener University in Pennsylvania, observes, "Many of our graduating students need a private consolidation loan to help them transition from school to the next phase of their life. Finally, there's a cost-effective consolidation loan solution that offers a fixed-rate option."

Helping Students and Families Realize Their Dreams

The Education Finance Partners Private Consolidation Loan is the newest product offering from the company, building on the success of its private education loan product.

"This is just the beginning," said Briones. "You will see us continually bring new products to the marketplace in order to better serve borrowers' needs. I believe there are endless opportunities to provide meaningful financing options to help students and families achieve their education goals."

About Education Finance Partners

Based in San Francisco, Education Finance Partners, Inc. provides innovative consumer education loan products that bridge the financing gap between traditional financial aid and the total cost of a higher education. The company's sole focus is private student loans which offer students and their families flexible and affordable education financing solutions. More information is available by calling (866) 308-1070 or at www.EducationFinancePartners.com.

Contact Information