Released on = July 16, 2007, 8:45 am

Press Release Author = Brooke Heath

Industry = Financial

Press Release Summary = A new report indicates pursuing a college education is more
difficult for people who fall under the poor, working adults category

Press Release Body = Washington, DC, Friday, July 13, 2007-A report was released
this week that shows low-income working adults are less likely to gain college
educations than their higher-income counterparts.

According to the report by the Institute for Higher Education Policy (IHEP),
entitled "College Access for the Working Poor: Overcoming Burdens to Succeed in
Higher Education," college is out of reach for many adults who fall into the
category of poor working adults.

The U.S. Census Bureau suggests that poor working adults can be defined as those
"who worked but who nevertheless fell under the official definition of poverty";
those "who were in poverty and had at least one working family member"; and "people
who may not necessarily be in poverty according to the official measure of poverty,
but who fall below some percentage of the poverty level," according to the IHEP
report. The report shows that nearly 20 million Americans fit into this category.

According to the report, with the average cost of attending college close to
$13,000, poor working adults who earned an average of $19,000 a year in 2005 could
not afford to pursue college education. Even with the assistance of financial aid,
many times the price is just too high for prospective students who fall under the
poor-working-adult category.

The report found that many poor working adults who go to college must keep working
full-time jobs, which leads many to enroll in school part-time. The IHEP reports
that although this choice "offers a more financially viable option for many working
poor adults, it likely impacts the amount of grants for which these students qualify
and is associated with lower degree attainment." For example, in 2003-2004, 47% of
working poor adults were enrolled in higher education half-time or less. The report
also showed that family responsibilities kept poor working adults from attending
school full-time.

To balance the preceding factors, the report suggests providing tax relief to
working poor students, increasing eligibility for working independent students,
assisting students on the weekends with financial aid counseling, and other student
services.

"It's important that students in all social classes have the same opportunities to
pursue college degrees," said EdFed customer service manager Jodie Corzano. "It's
our goal at EdFed to assist all students in realizing this dream."


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

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

626-243-9423 (office)
626-628-3377 (fax)
bheath@edfed.com