American Student Loan Pioneer Promotes Economic Growth through Increased Access to Higher Education at World Bank/IMF Conference in Singapore

Financier and Philanthropist Catherine B. Reynolds Calls on Capital Markets Globally to Make Higher Education a Reality for Millions

WASHINGTON, September 17, 2006 - Education is the best way to give people in developing countries hope, American financier and philanthropist Catherine B. Reynolds today told participants of the Annual Meetings of the International Monetary Fund (IMF) and World Bank Group Boards of Governors in Singapore.
Reynolds, who helped create the non-government education loan market that provides affordable financing for millions of American students by introducing the first asset-backed securitization structure for consumer education loans in the United States, said that by offering the promise of a better life in developing countries through education, “You fill people with hope instead of rage.”

Participating in the seminar, “Using Capital Markets to Increase Access to Housing, Education and Social Services: Myth or Reality?” Reynolds used the occasion to challenge leaders of the world’s capital markets to help make access to higher education a reality for both men and women in developing countries.

“We want other nations, and especially women in other nations, to enjoy the benefits of education,” she said. “Unlike the rise and fall of political movements or economic theories, education has the singular ability to elevate the status of women in societies while at the same time enhancing the economic and cultural well-being of these nations.”

Citing the World Bank’s Africa Action Plan for 2006-2008 that addresses the importance of higher education in growth and competitiveness in Africa, Reynolds said she believes investment in human capital is central to the success of any long-term development program.

“An investment in human capital is both value investing and it is growth investing,” Reynolds said. “It’s inflation proof. It is probably the closest thing to a sure investment you can find.”

Reynolds, whose student lending company makes affordable loans available to families in the United States through the Loan to Learn program, said she would like to see this model adopted in other countries to ensure that more people can achieve the dream of education and the economic opportunity it creates.

In addition to her participation in this week’s World Bank seminar, Reynolds was invited to make presentations at European Investment Bank meetings in Lisbon, Portugal and Milan, Italy in 2003 where she discussed the advantages of countries adopting self-sustaining systems for funding higher education.

About Loan to Learn
Loan to Learn is a program of EduCap Inc. EduCap pioneered the non-government student loan industry in the late 1980's and launched the multi-billion dollar private education financing industry. Under the leadership of financial services entrepreneur Catherine B Reynolds, EduCap has achieved and impressive number of "firsts" in the student lending arena, including the first nationwide credit-based student loan program, the first student loan securitization in Wall Street history, and the first program to provide access to affordable student loans as an employee benefit. For more information about Loan to Learn, visit our Website at www.loantolearn.com