Knoxville, TN - Edsouth, the Southeast's leading provider of student loan funds and secondary market services, seeks to ease the financial chaos created by Hurricane Katrina. Edsouth is offering an interest rate waiver for higher education students who are residents in affected areas across Louisiana, Mississippi and Alabama.
"Edsouth is deeply concerned about the financial impact of Hurricane Katrina on the student borrowers who were attending school and have been displaced," says Ron Gambill, president of Edsouth. "We plan to relieve some of the financial burden through a 0% interest rate for six months for the affected students."
The waiver means interest will not accrue on unsubsidized Stafford loans for a six-month period. This forgiveness of interest will provide immediate financial relief for in-school students at schools most severely impacted by Katrina.
Sister companies, Edamerica and Edfinancial Services are pledging $250,000 to set up a Katrina Relief Fund for financial aid administrators and their families. The money will be allocated according to need, in amounts up to $2,500 per family. Together, the Ed Group of companies seeks to ease the pain of students, families and finanicial aid administrators whose lives have been disrupted by this catastrophe.
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Headquartered in Knoxville, TN, 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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