Graduate Leverage Announces New Student Plus Program™ for Undergraduate Students

An innovative Program that addresses access and affordability issues associated with private student loans

WALTHAM, MASS. – July 7, 2009 – Graduate Leverage, LLC (GL) announces the launch of the Student Plus Program, an option that provides families an alternative to borrowing costly private loans by making Direct Parent PLUS Loan borrowing more attractive. This new program is ideal for families who are looking for a low cost source of funds and who also want the student to make the payments. The Student Plus Program utilizes the Federal Direct Parent PLUS Loan as the underlying source of funds so families benefit from a low, fixed rate of 7.9% and the flexible repayment options associated with the Parent PLUS Loan.

Many families with college-bound students face unprecedented challenges as the 2009/2010 academic year begins. Private loans have become more difficult to obtain due to increasingly stringent eligibility requirements and fewer lender offerings. The programs that are available carry significantly higher variable interest rates and fees than programs offered in recent years.

"This innovative program provides a more affordable alternative to families who would otherwise use a high cost, private student loan," said Dan Thibeault, president and co-founder of Graduate Leverage. "Further, the Student Plus Program addresses issues for many families who are unable to obtain a private loan due to credit related reasons."

Graduate Leverage has found many families avoid using the lower cost Federal Parent PLUS Loans because a parent is solely responsible for repayment. The Graduate Leverage Student Plus Program allows the family to use the Federal Parent PLUS Loan but creates a scenario similar to that of a parent-cosigned private loan where the student makes the payments following graduation.

Since launching the Student Plus Program this spring, students attending over 200 colleges and universities have submitted applications and several financial aid offices are recommending the Student Plus Program to students. "Graduate Leverage is committed to providing students and their families low cost options to meet the rising cost of education. From the interest in the Student Plus Program we’ve seen so far, we are sure this product fills an important need." said Thibeault.

You can learn more about GL’s Student Plus Program by visiting GraduateLeverage.com. In addition, Graduate Leverage is participating in this year’s NASFAA Conference in San Antonio, TX July 12-15th and will be conducting a seminar titled: “Solving Supplemental Borrowing Issues for Undergraduate Students” that will discuss the Student Plus Program with the financial aid community.

About Graduate Leverage:
Graduate Leverage, LLC (GL) is a national provider of student loans. GL was founded in 2003 by graduate students as a resource to help fellow students make better decisions regarding their loans. GL continues to help students and families by providing a full suite of loan products, debt advisory services, analytical tools and life-of-loan servicing, each designed to help minimize the cost of education related debt.

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