Compaq Improves Education's Access to Technology Through New EduFlex Finance Program; Program Provides K-12 and Higher Education Most Flexible Financing Options.--(BUSINESS WIRE)-- Editor's Summary Compaq Today Announced: - The Compaq EduFlex Finance Program: The most flexible financing program designed for educational organizations, enabling them to build and maintain a strong technology foundation beginning immediately. The program offers: - Long- and short-term financing options for Compaq's full-range of innovative computing solutions as well as related industry products and services; - The industry's most comprehensive technology refreshment and upgrade options; - An aggressive trade-in program for out-dated computers, including Apple IIes. HOUSTON--June 6, 1996--Lack of funding is the single largest obstacle educators face when trying to outfit their classrooms with computers. To meet budget constraints A Budget Constraint represents the combinations of goods and services that a consumer can purchase given current prices and his income. Consumer theory uses the concepts of a budget constraint and a preference ordering to analyze consumer choices. , schools often must phase in fundamental technologies -- sometimes over several years -- and for many that means immediate needs for classroom technology go unmet. To help alleviate this roadblock, Compaq Computer Corporation (company) Compaq Computer Corporation - The largest US manufacturer and vendor of IBM PC compatible personal computers and servers. Compaq was started in 1982 by three ex-Texas Instruments employees. Quarterly sales $2499M, profits $210M (Aug 1994). http://compaq.com/. (NYSE NYSE See: New York Stock Exchange :CPQ CPQ Compaq CPQ Conseil du Patronat du Québec (Canada) CPQ Configure-Price-Quote CPQ Conseil de Presse du Québec (Québec Press Council, Canada) CPQ Companion Parrot Quarterly ) today launched the Compaq EduFlex Finance Program, becoming the first computer company to design a financial program to help educational organizations finance a broad range of computer technologies and services that extend beyond the company's own offerings. With this program, Compaq sets a new industry standard for partnering with education to meet the unique challenges of preparing students for the 21st century. By financing both Compaq and non-Compaq products, the EduFlex program allows educational organizations to implement their technology plans at a pace accommodating their specific goals and requirements. With the means to finance technology for a single classroom, a school or across an entire campus or district, educators are better able to address the difficult issue of equal access to the latest technology for all students. This program, the most extensive technology financing program of its kind, provides K-12 and higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. institutions both long- and short-term financing options for Compaq's industry-leading solutions. This spans the company's broad range of desktop, notebook, server and internetworking products, and includes the new Compaq Presario ES Presario is a series of desktop computers and notebooks from Compaq. The Presario family of computers was launched for the consumer marketplace in September 1993. Although HP has since acquired Compaq, the Presario name was not discontinued due to its marketability. , a feature-rich desktop multimedia PC designed specifically for networked educational environments. In addition, educators can use the EduFlex program to purchase audio-visual equipment, fiber optic networks, staff training and development and other related products and services to join the fast-expanding connected learning environment today. "As educators consider technology solutions, the question 'how can we afford this?' is foremost in their minds," said Sue Collins, director of Education, Compaq Computer Corporation. "As a leader in the education market, Compaq is committed to providing cost-effective solutions and innovative technology to educational organizations. Today we take the next step, not only providing educators the technology they need, but also providing them the means to attain, implement and maintain it." To support the EduFlex program, Compaq has selected GE Capital Vendor Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , a leading financial services provider with extensive experience in working in the education market. Facilitating the Move to Windows Continuing to provide educators cost-effective, innovative solutions, the Compaq EduFlex Program helps schools, colleges and universities stay current with the latest developments in Windows-based solutions. Today, schools favor industry-standard PCs, bridging the gap between home, school and business computing. In 1996, the sale of Windows-based computers is expected to exceed the sales of Apple systems in K-12 institutions.(a) Through Compaq's technology refreshment and upgrade options, schools can choose to refresh (1) To continuously charge a device that cannot hold its content. CRTs must be refreshed, because the phosphors hold their glow for only a few milliseconds. Dynamic RAM chips require refreshing to maintain their charged bit patterns. See vertical scan frequency and redraw. up to 100 percent of their computer equipment as often as every year, to take advantage of the latest in Windows-based computing. Just as critical, Compaq's EduFlex program offers a trade-in option that provides fair market value for a school's obsolete equipment. This option can reduce the costs of current computer acquisition while at the same time provide schools a channel to dispense of outdated products, such as Apple IIes. Flexible Finance Options The Compaq EduFlex program, offering competitive short- and long-term financing Long-term financing Liabilities repayable in more than one year plus equity. options, provides educational organizations a wide variety of financing and product refreshment terms to help schools, colleges and universities achieve their technology goals. Through this program, educators now have increased control in managing their funds through the ability to maximize the purchasing power Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. of their budgeted dollars, as well as structuring financial schedules that level payments across the budget years. At Grove City College The school emphasizes a humanities core curriculum, which endorses the Judeo-Christian Western tradition and the free market. While loosely associated with the Presbyterian Church (USA), the college is non-denominational and does not require students to sign a statement of faith, though , in Grove City, Pennsylvania Grove City is a borough in Mercer County, Pennsylvania, approximately 50 miles north of Pittsburgh. It is the home of Grove City College, a Christian liberal arts college founded in 1876. , each entering student uses a Compaq notebook computer A laptop computer that weighs in a range from five to seven pounds. The term originated when laptops were routinely more than 10 pounds, and those that became lighter were placed in a special "notebook" category. In practice, notebook computer and laptop computer are synonymous. in class as well as to access the college's extensive information network. "We believe that technology is a critical component of the education process," said John Inman
Frederick John Inman (28 June 1935 – 8 March 2007) was an English actor who was best known for his role as Mr. , director, Distributed Computing (1) The use of multiple computers networked throughout a wide geographical area, or the world via the Internet, in order to solve a single problem. See grid computing. (2) The use of multiple computers in an enterprise rather than one centralized system. , Grove City College. "While it is our objective to provide our students the latest and best equipment, budget constraints and rapid technology advancements are making this increasingly challenging." Compaq's new EduFlex program will allow schools like Grove City College to continuously update their technology while reducing their overall cost of ownership. With the Compaq EduFlex Program, Compaq is providing educators the most flexible financing program in the industry. Based on their specific financial and technology needs, schools can determine the exact terms of their financing program including: the lease period (ranging from one to seven years); the purchase plan (either lease-to-own or lease); as well as the technology refreshment schedule (whether to upgrade and the timing of those upgrades). Both tax-exempt and non-tax-exempt programs are available. Implementing and supporting a networked infrastructure within schools is a priority, but is one of the most expensive programs a school can pursue and one which requires a strong investment. With the Compaq EduFlex long-term lease-to-own program, schools can now prorate To divide proportionately. To adjust, share, or distribute something or some amount on a pro rata basis. the cost of the networking solutions -- over a period of up to seven years -- for a less prohibitive pro·hib·i·tive also pro·hib·i·to·ry adj. 1. Prohibiting; forbidding: took prohibitive measures. 2. , more cost-effective solution. Ideally suited for networked environments, this program is designed to include the cabling, wiring, router, hub and fiber optic products necessary to build the foundation for connected learning experiences today and in the future. Similarly, through short-term lease and lease-to-own programs, educational organizations are able to provide students and teachers access to the latest technology. Best suited for desktop, notebook and server products, the EduFlex short-term, variable refreshment program helps schools eliminate their investment in out-of-date equipment and improve their ability to stay current with latest technology. Underscoring the program's flexibility, educational organizations can customize a combination of EduFlex financing based on their individual needs. The Compaq EduFlex program also offers services to make it easier for schools to protect and manage their investment. These include lifecycle management, asset management and remarketing, as well as user-friendly and thorough documentation, to help schools take advantage of all the benefits and options available to them. Availability The Compaq EduFlex Finance Program is available immediately to educational institutions by calling Compaq toll-free 1-888-407-6243. Company Background Compaq is a leading provider of PCs and servers to the education marketplace. The company partners with independent software providers and leading education resellers nationwide to supply educators and students in K-12 and higher education institutions with complete PC solutions. Customers can call 1-800-88-TEACH to locate a Certified Education Partner or to obtain help choosing the Compaq products that best suit the needs of their schools. In addition, information on Compaq's education program is available on Compaq's Web site (http://www.compaq.com). Compaq Computer Corporation is the world's largest supplier of personal computers, offering desktop PCs, portable PCs, servers and options. Founded in 1982, the Company reported 1995 worldwide sales of $14.8 billion. Compaq products are sold and supported in more than 100 countries through Compaq marketing partners. Compaq provides 24-hour customer support and can be reached through the Compaq forums on America Online See AOL. , CompuServe, Internet (http://www.compaq.com), and Prodigy An online information service that provides access to the Internet, e-mail and a variety of databases. Launched in 1988, Prodigy was the first consumer-oriented online service in the U.S. , or by calling 1-800-OK-COMPAQ. -0- (a) According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the 1995 study, "Understanding Information Technology for Kindergarten through Grade 12," by CCA (1) (Common Cryptographic Architecture) Cryptography software from IBM for MVS and DOS applications. (2) (Compatible Communications A Consulting, Wellesley, Mass. Compaq, Presario, Registered U.S. Patent and Trademark Office. EduFlex is a trademark of Compaq Computer Corporation. Product names mentioned herein may be trademarks and/or registered trademarks of their respective companies. CONTACT: Compaq Computer Corporation Mike Berman, Janet Dean Janet Elizabeth Ann Dean (born 28 January 1949) is a British politician. She is the Labour Member of Parliament (MP) for Burton in Staffordshire. Born Janet Gibson in Crewe, she was educated at the Verdin Grammar School in Winsford. 713-514-0484 mberman@bangate.compaq.com jdean@bangate.compaq.com or Miller/Shandwick Technologies Ilana Reynolds, Lizzie Allen 910-392-2348 ireynold@wilmington.com eallen@miller.shandwick.com |
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