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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 (www.educatedborrower.com). 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.
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Publication:Business Wire
Date:Mar 6, 2007
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