Edsouth Introduces Zero Fee Stafford Loan for Florida Students

3/21/2005

Jacksonville, FL -  Edsouth, the South's leading student loan secondary market, is again lowering the cost of higher education specifically for Florida students. Edsouth recently introduced a discounted Stafford loan for Florida engineering students. The Techloan is in addition to the Florida Edloan for teachers and nurses. Now Edsouth is waiving origination fees on Stafford loans for all Florida borrowers.

The federal government mandates a 3% origination fee for all Stafford loans. Edsouth will now pay that fee on behalf of borrowers who originate loans through Edamerica, Edsouth's lending partner. The Zero Fee Stafford Loan is especially for Florida students.

"The potential savings for students and families are huge," says Tony Hollin, chairman & CEO. "The Zero Fee Stafford means more money upfront in the form of larger disbursement checks to apply directly to college expenses."

A nonprofit student loan secondary market, Edsouth is committed to expanding access to higher education for all borrowers. Building on the success of the Florida Edloan for teachers and nurses, Edsouth created a discounted Stafford loan for Florida engineering students. The Techloan program is intended to expand access to undergraduate technology degree programs, specifically in the areas of computer software engineering and biomedical engineering, which ultimately will increase the number of graduates qualified to work in Florida's growing technology industry.

Edsouth pioneered the Edloan program for use specifically in Florida. The first program of its kind in the state, the Edloan is designed to enhance the recruitment and retention of skilled healthcare providers and K-12 teachers.

The Zero Fee Stafford Loan is the latest in a series of innovative products and benefits for Florida borrowers. By underwriting the 3% origination fee, Edsouth provides an across-the-board immediate benefit for all borrowers.

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Edsouth is one of the nation's largest providers of education loans. Offering low-cost student loan and benefit programs nationwide, Edsouth has helped over a million students and families realize their dreams of higher education since 1988.

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