$200 Million In Volume Cap Awarded To Student Lending Works

Ohio Helps To Lower Cost Of College For Ohio Students

COLUMBUS, OH - In 2005, the State of Ohio launched a program to offer students reduced-rate loans in an effort to drive down the cost of higher education and increase college-going rates in Ohio. This year, $200 million in volume cap has been awarded to KnowledgeFunding Ohio, to be distributed through its sister loans to Ohio students and their families.

The State of Ohio designated Student Lending Works as the nonprofit student lending organization for the State. As a result of the designation, Student Lending Works is able to finance student loans with tax-exempt debt, allowing the organization to offer loans at reduced interest rates. The surplus generated from Student Lending Works' student lending activities are reinvested into Ohio education initiatives that further the state's educational goals.

Student Lending Works' activities include the origination of Federally guaranteed student loans to Ohio residents and students studying at Ohio colleges and universities. Its mission is to provide Ohio students and their families with low-cost Federal Education Loans. KnowledgeFunding Ohio serves as Ohio's issuer of qualified scholarship funding bonds, the proceeds of which will be used to fund reduced-rate student loans for Ohio.

"This funding allows Student Lending Works to continue to offer exceptional benefits to Ohio students and their families," said Jeff Wallace, Student Lending Works Director of Marketing and Operations. "The State of Ohio is continuing to invest in higher education by supporting the State's designated nonprofit lender."

Company Contact:

Jeff Wallace
Student Lending Works
(513) 354-2921