Student Loan Provider Enters Market as Others Drop Out
Chairman and CEO Paul Gilroy, PhD announced today that ProEducation Financial Solutions, LLC has officially launched their first school-certified private loan product.
Founded by four student loan professionals with extensive and varied backgrounds in higher education finance, ProEd Financial will be providing both private loans and consulting services in response to the growing need for private loan funding. In keeping with their borrower-centric mission statement, the company is fully committed to partnering with colleges and universities to ensure that students are exhausting grant, scholarship and federal loan options before applying for credit-based alternative loans.
As Dr. Gilroy noted, "This is a very exciting day for all of us at ProEd Financial. But, more importantly, this announcement should be welcomed by colleges across the country as evidence that there are still highly ethical lenders promoting financial literacy and responsible borrowing through our national, school-channel marketing team."
"I completely agree with my colleague's observations," added Chief Operating Officer Patrick Ziegler. "At a time when other loan providers are moving toward a Direct-to-Consumer model which bypasses the Financial Aid Office entirely, we are dedicating ourselves to providing the tools and resources necessary to support our friends and colleagues in the trenches."
"The reality is that the student loan industry is in trouble right now as a result of the credit crunch" concluded President and Chief Sales Officer Pat Cook. "More than ever, schools and borrowers alike have a need for lending partners they can trust to help them secure the funds they need to make a college degree a reality. We would like to be that partner."
ProEd Financial offers private loans to undergraduate and graduate students across the country. Ancillary services include credit review and risk analysis programs, on-campus and web-based financial literacy seminars, and post-graduation default prevention campaigns. In the coming months, additional details will be provided about the company's expansion as well as the introduction of an innovative, private loan borrower benefit program.
Posted 05/12/08 to www.NASFAA.org. Posting of press releases is done as a service to Members and does not imply endorsement or support by NASFAA. NASFAA does not review this information for content or accuracy.
