Graduate Leverage Suspending Participation in FFEL Program

Business Wire,  March 13, 2008  

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WALTHAM, Mass. -- Graduate Leverage (GL) announces that the unprecedented disruptions in the capital markets have limited its ability to issue federal loans. Thus, GL has temporarily suspended the funding of new FFEL loans effective immediately.

"Current market conditions prevent us from obtaining the capital required to fund our federal loan program," says Dan Thibeault, Graduate Leverage president and co-founder. "We are hopeful that market conditions will improve and we will be able to resume normal funding of student loans. Until that time, we are recommending students obtain their federal loans from another lender."

As part of this action, Graduate Leverage is no longer accepting applications for all federal loan programs. GL is contacting affected borrowers and members of the financial aid community to ensure the smoothest possible transition for borrowers to obtain loans from another lender. Borrowers and financial aid office staff may contact Graduate Leverage at 888-350-8488 with any loan-specific questions.

About Graduate Leverage

Graduate Leverage (GL) was founded in 2003 by graduate school classmates as a resource to help fellow graduate students make better decisions regarding their loans. Graduate Leverage has now assisted more than 65,000 students at top graduate programs throughout the United States. GL has helped students by providing a comprehensive suite of debt advisory services, analytical tools, and loan products designed to minimize the cost of education related debt.

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