Printer Friendly

GCO Education Loan Funding Corp. Launches Educated Borrower(SM) Private Loan Consolidation Program.

GREENWOOD VILLAGE, Colo. -- GCO Education Loan Funding Corp. (GCO ELF) announced today that it has successfully launched a Private Consolidation Loan Program to complement its suite of Educated Borrower private student loan products ( The Educated Borrower loans offer products for students and families at every phase of their education process, from K-12 through post graduate study.

The Educated Borrower(SM) Private Consolidation Loan will offer students up to a 45% reduction in their monthly payment amount in their first year of repayment.

"Students and families are faced with a tremendous monthly burden once their private loans enter repayment. We have designed our product to address this cash flow stress," said Robert Culnane, Managing Director of GCO ELF. "We engineered our product to lower monthly payments in three ways. First, we structured a first year interest rate that is well below market rates, which minimizes the accrual of interest in the first year. Second, we provide borrowers with the option of making interest-only payments in the first 24 months, allowing them to breathe a little while they establish themselves. And finally, we have extended the loan term to thirty years. With no penalty for early repayment, the borrower is provided with the flexibility they need in the early years, when cash flow can be tight," added Culnane.

The Educated Borrower Private Consolidation Loan also offers a 0.25% interest rate reduction if you elect to have your monthly payment deducted from your checking account. In addition, certain borrowers may be eligible for a reduction in their loan balance after 48 consecutive on-time monthly payments.

"We are very pleased to add this Private Consolidation Loan to our suite of Educated Borrower products. We believe that The Educated Borrower Private Consolidation Loan will provide much needed relief to recent graduates and their families as they establish themselves in the workforce," concluded Culnane.

About GCO ELF - In addition to its private loan activities, GCO ELF, a member of the Greystone & Co., Inc. family of companies, also operates as a secondary market participant focused on providing liquidity to the student loan industry. With an asset base in excess of $5.0 billion, GCO ELF has the financial strength and capability to meet the growing financial needs of higher education.

About Greystone & Co. - Greystone & Co., Inc. is a private investment and real estate organization with expertise in a range of loan products, servicing, trading, securitization and transaction structuring.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Mar 6, 2007
Previous Article:KnowNow's Momentum Continues; High-Profile Financial Services & Technology Customers and Awards Signal Fast Growth Ahead for Enterprise RSS Leader.
Next Article:iPass Launches Wi-Fi Hotspot Index.

Related Articles
Canadore College -- flight technician program is taking off.
Laurentian University -- commerce is king.
Lakehead University -- nursing the industry back to health.
Confederation College -- flying straight into jobs.
Northern College -- long term focus on nursing.
Algoma University College -- business grads get top jobs.
College Boreal -- seamless daycare garners attention.
WRAP touts success of plastic bottle recycling seminars.
Construction zone: the plastic lumber industry is offering a destination for a growing variety of plastic scrap.
Building momentum: the 2007 ISRI convention & exhibition brought attendees to New Orleans to build on the scrap industry's momentum.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters