SAN DIEGO, June 7 /PRNewswire-FirstCall/ -- If you're a graduate with student loans, getting free money to put toward your monthly payment would be an unexpected bonus. Winning $50,000 to pay off your student loans might just make your year. That's what Student Loan Xpress, a subsidiary of Education Lending Group, Inc. (Nasdaq: EDLG), is hoping with its "$50K Student Loan Payment Sweepstakes." In the online sweepstakes, which Student Loan Xpress will host June 7 through Sept. 5, borrowers can enter weekly drawings to win one of two $200 prizes -- and also enter to win a $50,000 grand prize. The sweepstakes is available at the Consolidation Assistance Program loan site of Student Loan Xpress, www.capsweeps.com. "Students just starting out after college have many expenses," said Fabrizio Balestri, president and CEO of Student Loan Xpress. "By providing borrowers with a chance to win the funds to make their monthly payment, or to pay off their loans entirely, we hope to help make their post-graduate life that much easier." While at the site, student borrowers can learn about consolidating their student loans through Consolidation Assistance Program, which offers rates for new graduates as low as 1.625 percent -- the lowest rate in the history of the federal consolidation program. "Now is definitely the time to consolidate," Balestri said. "With a low fixed rate and repayment options to fit any situation, a consolidation loan is often one of the best financial decisions a new graduate can make." Borrowers may enter the sweepstakes once daily, and they do not need to apply for a consolidation loan to enter. For additional information and complete rules, go to www.capsweeps.com, or call 1-888-811-1845. ABOUT STUDENT LOAN XPRESS AND EDUCATION LENDING GROUP Student Loan Xpress, Inc., a subsidiary of Education Lending Group, Inc. (Nasdaq: EDLG), is a national lender of Federal Stafford and Parent Loan For Undergraduate Students (PLUS) loans, and provides access to alternative (private) education loans, with a long-term commitment to students and families. Based in San Diego, Student Loan Xpress utilizes Fifth Third Bank as its eligible lender trustee. Student Loan Xpress is a registered trademark of Student Loan Xpress, Inc. For more information, call 1-866-SLX-PRES or visit www.studentloanxpress.com. Education Lending Group is a specialty finance company principally engaged in providing student loan products, services and solutions to students, parents, schools and alumni associations. Its business is focused on originating and purchasing guaranteed student loans through the Federal Family Education Loan Program (FFELP), including consolidation loans, Stafford loans and PLUS loans. For more information, visit www.educationlendinggroup.com or call (858) 617-6080. This press release may include forward-looking statements within the meaning of Section 7A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. We have based these forward-looking statements on the Company's current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us and the Company's affiliate companies, that may cause the Company's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "would," "expect," "plan," "anticipate," "believe," "estimate," "continue," or the negative of such terms or other similar expressions. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those identified in the Company's Securities and Exchange Commission filings, including the Company's 2003 Annual Report on Form 10-K, filed on March 12, 2004. The discussion should be read in conjunction with the Company's Financial Statements and related Notes thereto included in the Company's Form 10-K and Form 10-Q filings.
SOURCE Education Lending Group, Inc.