Need to Consolidate Private Student Loans Often Overlooked In Federal Student Loan Consolidation Frenzy

WASHINGTON, June 13, 2005 - All across the country, borrowers with federal student loans are rushing to combine them in new government-guaranteed consolidation loans prior to July 1. With interest rates on federal student loans slated to increase in July of 2005, students are being encouraged to consolidate their loans now, to lock in a lower interest rate.

However, this unprecedented rush to consolidate federal student loans has led some borrowers to wonder what they can do with the other education-related debt they have accumulated. For them, student loan industry experts have a ready answer.

Catherine B. Reynolds, the Chairman and CEO of EduCap Inc., the company that created the private student loan market 20 years ago, says, “Borrowers with multiple private student loans - as opposed to federal loans – can benefit significantly by combining them into a new private consolidation loan.” She notes that private consolidation loans have no application deadlines, and require no federal approvals whatsoever. “They’re available anytime, before or after graduation, and the repayment of principal can be deferred for up to 3 years, which makes them easily affordable for those students just graduating.” Reynolds observes that private consolidation loans offer tremendous advantages that are there for the taking. “I would urge borrowers not to lose sight of that fact amid all the fuss being made about federal consolidation loans at the present time.”

As Reynolds is quick to point out, Loan to Learn offers far more than just a flexible, convenient and affordable consolidation loan. ”The whole family can benefit from the ease and convenience of our private consolidation loans, ” says Reynolds. “People with more than one student loan know what a bother it is to deal with multiple loan payments in varying amounts that fall due on different dates.” For them, Reynolds suggests that a consolidation loan from Loan to Learn is the perfect solution. “Parents who have borrowed on behalf of several children, or spouses with individually-incurred education debt, can combine those obligations into one new consolidation loan with one simple payment and due date.”

EduCap Inc., a Washington, D.C. non-profit organization, with a mission to promote an educated citizenry through its Loan to Learn program, pioneered the credit-based loan industry by creating the very first nationwide privately-funded loan program. EduCap Inc. has disbursed billions of dollars in education loans to students and their families since its founding nearly 20 years ago.

For more information, log on to www.loantolearn.com or call toll-free 1-800-TO-LEARN or 1-800-865-3276 .