EDFUND—News Release

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NEWS RELEASE

FOR IMMEDIATE RELEASE
October 19, 2004

CONTACT
Nora Bruce 916.526.8438

EDFUND Grants $2.5 Million to Support Campus-Based Default Prevention Programs

RANCHO CORDOVA, CA — EDFUND, the nation's second largest provider of student loan guarantee services, announced today that it will grant a total of $2.5 million this fall through its EDSHARE^® program to support campus-based programs focusing on borrower education, default prevention and debt management.

This year's distribution includes $523,532 in grant funding to support 14 new programs proposed in this year's grant competition. In addition, EDSHARE will provide over $2 million in renewal grants to over 50 colleges, universities and vocational schools whose multi-year grant proposals were approved in previous years.

“Across the country, schools who received EDSHARE grants are developing unique, effective programs to educate their student borrowers about money management,” said EDFUND President Becky Stilling. “We're delighted with the results of the EDSHARE program to date and look forward in the future to seeing the creative approaches developed as a result of these grants implemented at campuses across the nation.”

The newly awarded grants comprise a third round of approved applications; the second EDSHARE grants were funded last year. Successful campus proposals — from individual and multi-campus schools as well as multiple-school consortia — include innovative plans to help students and their families learn how to manage their college-related expenses and financial obligations more effectively. EDFUND awarded the grants through a competitive review process.

A full list of the new and renewal grant recipients with a capsule description of their program proposals is attached.

EDFUND, a nonprofit public benefit corporation, is the nation’s second largest provider of student loan guarantee services under the Federal Family Education Loan Program. EDFUND offers students a wide range of financial aid and debt management information while supporting schools with advanced loan processing solutions and default prevention techniques. Operating as an auxiliary corporation of the California Student Aid Commission, EDFUND processes more than $5.5 billion in student loans annually (including consolidation loans) and manages a portfolio of outstanding loans valued at $21 billion. EDFUND is headquartered in Rancho Cordova, California with regional offices located throughout the nation.

EDFUND, its associated graphic and EDSHARE are registered trademarks of EDFUND.

2004 EDFUND EDSHARE^® Grant Recipients

Brooks Institute of Photography, Santa Barbara and Ventura, CA— To develop debt management and borrower education workshops to supplement entrance and exit interviews and by informing students in a motivational format.

Charles A Jones Skills and Business Education Center, Sacramento, CA — To develop monthly financial literacy workshops for immigrants, parolees, individuals moving from welfare to work, and young adults entering the workforce for the first time.

College of the Canyons, Santa Clarita, CA — To develop an 8-week personal development course entitled “Life Skills and Financial Literacy.”

College of Oceaneering, Wilmington, CA — To support the development of new debt counseling tools and exit counseling materials designed specifically for College of Oceaneering borrowers and initiate a mentor program for new students.

Eastern Oregon University, La Grande, Oregon — To extend outreach and programming initiatives beyond orientation and entrance/exit interviews. To be more active in Default Prevention through the use of EdFund 's Cohort Management System.

Eastern Wyoming College, Torrington, Wyoming — To develop an online orientation for students to reinforce positive borrower experiences and behaviors.

Emory University, Atlanta, Georgia — For a debt management periodical titled S.P.L.U.R.G.E., Virtual Counselor, an on-line tool for assisting students and parents with default prevention and debt management concerns, and a Peer Financial Counseling program.

Maui Community College, Kahului, Hawaii — To foster personal relationships with loan borrowers in order to develop financially literate students who are comfortable with their entire loan process.

Med-Assist School of Hawaii, Honolulu, Hawaii — To reduce the cohort rate by 10% by educating students about financial management and default prevention.

Monterey Institute of International Studies, Monterey, CA — To develop and implement a pilot debt-management and student-loan default prevention system for Institute students who borrow money to finance their education.

Prescott College, Prescott, Arizona — To implement a technical coaching assistance program and a personalized financial planning and debt management coaching program. The grant will also be used to expand the scholarship database to include national, regional and local information.

San Francisco Conservatory of Music, San Francisco, CA — To support development and improvement of scholarship and loan services for students, prospective students and recent graduates.

Southern California Institute of Architecture, Los Angeles, CA — To support an educational seminar.

UCLA Student Loan Services and Collection Department, Los Angeles, CA — To develop the third piece in their Debt Management “Cycle of Services,” presentations to motivate student borrowers to become active participants in their financial future.

Universal Technical Institute, Phoenix, Arizona and Nationwide — To provide counseling to students about budgeting and to enhance entrance and exit counseling programs with notebooks, handouts, visual aides and speakers.

Renewing EDSHARE Recipients

American Career College — Los Angeles, California
Antioch University — Marina del Rey, California
Apollo Group/University of Phoenix — Multiple campuses nationwide
California Hair Design — La Mesa, California
California Polytechnic State University — San Luis Obispo, California
California State University — Channel Islands, California
California State University — Fresno, California
California State University — Fullerton, California
California State University — Monterey Bay, California
California State University — Northridge, California
California State University — Sacramento, California
City College of San Francisco — San Francisco, California
Cleveland Chiropractic College — Los Angeles, California
Columbia University — New York, New York
Computer Education Institute — Multiple campuses nationwide
Corinthian Colleges — Santa Ana, California
Cuesta College — San Luis Obispo, CA
Diablo Valley College — Pleasant Hill, California
Fashion Institute of Design and Merchandising — Los Angeles, Orange County, San Francisco and San Diego, California
Gavilan College — Gilroy, California
Gonzaga University — Spokane, Washington
Graduate Theological Union — Berkeley, California
Grossmont-Cuyamuca Community College District — El Cajon, California
Heald College — San Francisco, California and multiple campuses in the West
Laguna College of Art and Design — Laguna Beach, California
Lassen Community College District — Shasta and Butte Counties, California
Lewis-Clark State College — Lewiston, Idaho
Linfield College -McMinnville, Oregon
Motorcycle Mechanics Institute — Phoenix, Arizona and Orlando, Florida
Mt. San Jacinto College — San Jacinto, California
Multnomah Bible College and Seminary — Portland, Oregon
Pepperdine University Graduate School of Management — Culver City, California
Pima Medical Institute — Tucson, Arizona
Platt College — San Diego, California
Point Loma Nazarene University — San Diego, California
Poway Academy of Hair Design — Poway, California
Rogue Community College — Grants Pass, Oregon
San Joaquin Delta College — Stockton, California
San Jose State University — San Jose, California
Silicon Valley College — San Jose, California
Southwest College of Naturopathic Medicine — Tempe, Arizona
Thomas Jefferson School of Law — San Diego, California
United Education Institute — Irvine, California
University of California, Geffen School of Medicine — Los Angeles, California
University of Guam — Guam
University of San Diego — Consortium of institutions
University of Southern California — Los Angeles, California
University of Nevada — Reno, Nevada
Washington State University — Pullman, Washington
Western Nevada Community College — Carson City, Nevada
Willamette University — Salem, Oregon