The First Marblehead Corporation
NYSE : FMD

January 31, 2008 10:26 ET

SmartBorrowing.org to Provide More Tools and Tips on College Financing in a Free, One-Stop Experience

BOSTON, MA--(Marketwire - January 31, 2008) - With the season for making decisions about where to go to college -- and how to pay for it -- for the 2008-2009 school year underway, The First Marblehead Corporation (NYSE: FMD) announced that its popular SmartBorrowing.org Web site will provide an even wider array of tips and tools for helping students and their families plan for college. SmartBorrowing.org was launched in September 2007.

"College costs and how families can pay for a higher education have been in the news a lot lately," said Jack Kopnisky, Chief Executive Officer and President of The First Marblehead Corporation. "In many cases we've found that parents and students are finding themselves with more questions than answers. The new content and tools we've added to SmartBorrowing.org are intended to let people find quick and easy-to-understand answers to some of their most common questions, such as what are my options for financing college and what are the long-term implications of the decisions I make today."

One of the innovations of SmartBorrowing.org is to aggregate content from numerous sources on an ongoing basis so that the site can serve as a one-stop destination for a wide array of information. "As anyone looking at this issue can tell you, there are numerous places out there that provide all sorts of different information," Kopnisky said. "What we want to offer consumers is a central location where they can find the latest information they need, when they need it, without having to create a profile, log on, or pay a fee to access it. SmartBorrowing.org will be a site that students and their families will want to visit often."

The centerpiece of the site is a new "Resources" section, which includes a variety of educational information and practical tools.





-- The Borrowers "Bill of Rights" serves as a reminder to anyone who does
need to borrow money to pay for college that the process should revolve
around the consumer's needs, not the lender's.
-- The 'Five Rs' for Smart Borrowing worksheet is a step-by-step guide to
help people avoid common mistakes when it comes to higher education
financing, and to get started off on the right foot.
-- The Glossary cuts through the jargon and defines common financial
terms in plain English.
-- The Grants and Scholarships link connects users with a growing list of
options to find funding sources for which they may be eligible, the best
place to start in college financing.
-- A Calculators section provides access to some of the best tools
available on the Web, presented in a way that helps families add up all the
costs of college and develop a plan for managing them.
-- The In the News and White Papers sections share headlines, viewpoints
and white papers on a range of topics related to choosing the right
college, college costs, budgeting while in school and how to make the most
of the college experience.




"As the cost of college continues to well outpace inflation, families will continue to have to get smarter about how they're going to finance their children's dreams," Kopnisky said. "SmartBorrowing.org is our way to get up-to-date, easily digestible information into the hands of people who are wrestling with some of the most important and exciting decisions they'll ever make."

About The First Marblehead Corporation -- First Marblehead provides financial solutions that help students achieve their dreams. The Company helps meet the growing demand for private education loans by providing national and regional financial institutions and educational institutions, as well as businesses and other enterprises, with an integrated suite of design, implementation and securitization services for student loan programs. First Marblehead supports responsible lending for borrowers and is a strong proponent of the smart borrowing principle, which encourages students to access scholarships, grants and federally-guaranteed loans before considering private education loans. For more information, go to www.firstmarblehead.com.

Contact Information

  • Janice D. Walker
    Corporate Communications
    617-638-2047