Released on = July 6, 2007, 2:48 pm

Press Release Author = EdFed

Industry = Education

Press Release Summary = The Governor of Maine signed a bill this week that will
assist graduates with paying off their student loans in exchange for staying in the
state to work.

Press Release Body = Augusta, Maine - This week, Governor of Maine John E. Baldacci
signed LD 1856, a bill that will allow college graduates tax credit for repayments
on their student loans in exchange for their commitment to stay in the state to
work.

Known as Opportunity Maine, this bill will assist graduates with paying off their
student loan debt, which can be a huge burden on those entering the workforce and
beginning careers. The hope is that Opportunity Maine will help strengthen Maine's
economy by keeping productive, well-educated citizens in the state. Statistics show
that Maine has 30% fewer citizens with college degrees than the rest of the New
England states and that its citizens make 30% less than those in the rest of the New
England states, according to the Higher Education Washington, Inc., NewsLine.

According to a press release from the governor's office, Governor Baldacci said,
"Opportunity Maine is a prime example of the innovation and commitment that young
people have to the state of Maine. Mainers love this state and want to stay here
after graduation. That's what this bill is all about. These are our future
leaders, and we can't afford to lose them."

Approved unanimously by the state's House last month and passed by a large margin in
the Senate, this new bill will also benefit employers if they choose to pay off
their employees' student loans. Doing so will allow employers to receive tax
credits, according to information in the NewsLine.

"This is a wise investment in our children's future and our state's economic future,
and I believe it will pay huge dividends," said Governor Baldacci.

EdFed is also doing its part to help graduates in every state manage their student
loan debt. According to EdFed loan counselor Jennifer Munson, "EdFed has helped
students all over the country save thousands of dollars over the life of their loans
by consolidating their multiple student loans into one easy-to-manage loan."

To learn about the various services that EdFed offers its borrowers, visit
www.edfed.com.


About EdFed:

As a leader in the student loan industry, EdFed is dedicated to helping students and
graduates realize all of their educational goals and meet their student loan and
consolidation needs.



Web Site = http://www.edfed.com

Contact Details = 175 S. Lake Ave., Suite 200
Pasadena, CA 91101
Phone: 800-821-5659
Fax: 626-628-3377
bheath@edfed.com