Released on = July 23, 2007, 8:53 am

Press Release Author = EdFed

Industry = Education

Press Release Summary = This week, Senator Bayh initiated a bill that would allow
active duty soldiers and their spouses to defer interest on their student loans.

Press Release Body = Washington, DC, July 20, 2006-Active duty soldiers may catch a
break on their student loans if a new bill goes into effect. Introduced on Tuesday
by Senator Evan Bayh (D-IN), the Interest Relief Act would temporarily suspend
interest from accruing on the student loans of active duty soldiers and their
spouses for up to five years.

This program would be available to active duty soldiers serving in any military
branch, including the National Guard and reserve units, and their spouses, according
to Higher Education Washington, Inc.'s NewsLine. The only stipulation is that the
student loans must be taken out through the Federal Direct Loan Program, which
provides loans directly from the U.S. Department of Education.

Currently, members of the military may defer payments on their student loans while
serving on active duty. However, interest still continues to accrue, which can be a
costly burden for soldiers to come home to. The Interest Relief Act would help
soldiers avoid this financial burden.

According to information from The Evening News and The Tribune, the bill would help
soldiers who have been active for 12 to 15 months save an average of $1,183 and save
$1,479 in interest while active.

Senator Bayh said, "By deferring interest accrual for those who have student loans,
we remove one more hurdle that our soldiers and their families face when they are
planning their future after active duty service."

"It's important that we provide the people who put their lives on the line for our
country with options for their student loans," said EdFed student loan counselor
Jennifer Munson. "This bill will help to alleviate some of the financial burden
that student loans can have on people, especially when they, as soldiers, have
already made so many sacrifices."

"At EdFed we also provide options to assist any students or graduates with managing
their student loan debt with our consolidation programs," said Munson.

To learn more about the services EdFed offers, 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,cin

Contact Details = 175 S. Lake Ave., Suite 200
Pasadena, CA 91101

626-243-9423 (office)
bheath@edfed.com