American Education Services Launches New Student Loan Rebate Program

HARRISBURG, Pa., June 19 /PRNewswire-USNewswire/ -- American Education Services (AES) has launched a unique student loan rebate program that benefits student loan borrowers as they repay their AES-serviced student loans.

StudentLoanRebates.com is a unique network of programs and merchants offering more rebate choices than the typical single rebate program. AES has teamed with some of the best rewards programs around, including Upromise, the largest college savings rewards program, Grad Gold and Jellyfish, to help student loan borrowers earn rebates while shopping. These rebates are then applied to the borrower's AES-serviced student loan balance, allowing them to repay their loan faster.

"No other major rebate program brings all the big players into one convenient location," said Dick Willey, AES President and CEO. "StudentLoanRebates.com brings multiple business partners together, specializing in different areas of shopping, making it possible for members to benefit without changing their shopping habits to maximize their student loan rebate potential. Participants can repay their student loans faster -- saving money -- without costing them anything extra."

Borrowers with AES-serviced student loans can create their free account at http://www.studentloanrebates.com/.

In 2002, AES teamed up with Upromise -- allowing its members to apply their Upromise rewards to borrower's AES-serviced loan balances. "We wanted to build upon the success of this program and provide even more opportunities for our borrowers to earn money back to help pay for their education," explained Willey. "StudentLoanRebates.com is the perfect solution -- something for everyone."

Little Grad, Inc. has partnered with AES to create a new brand, Grad Gold, allowing members to earn rebates at more than 1,700 online merchants at the Grad Gold online mall.

Jellyfish.com offers an innovative rewards program where members initiate the purchase of an item that they're looking for and merchants bid for the purchase. The purchase savings can be applied to the borrower's student loan balance.

AES expects to add more partners and merchants to the program, providing increased access to rebate programs and rebate choices, all from one convenient website.

American Education Services

American Education Services (AES) is among the nation's leading providers of student financial aid services. Each year, AES serves millions of students and thousands of schools through its loan guaranty, servicing, and financial aid processing systems. As a nonprofit enterprise with $94 billion in assets under management (1/31/07), AES channels its earnings into a wide array of public service programs and initiatives that help ease the financial burden of higher education.

Focused on guaranteeing the next generation of leaders, thinkers and doers, AES is a pioneer of pro-student products and services, such as its Zero Guaranty Fee Policy and low-cost student loans. From early awareness, to managing the financial aid process and sound student debt management, AES is a trusted source of information and advice for students, parents, school counselors and financial aid offices across the country. AES is also the home of the award-winning college-planning website EducationPlanner.org, as well the debt management resource YouCanDealWithIt.com. For more information, please visit us at http://www.aessuccess.org/.

About Upromise, Inc.

Launched in April 2001, today Upromise is the country's largest private source of college aid. Membership is free and allows families to automatically save money for college while making everyday purchases of products and services at more than 23,000 grocery and drug stores, 14,000 gas stations, 8,000 restaurants, as well as thousands of retail stores, and more than 550 online shopping sites. Upromise's partners include Citi(R), ExxonMobil Corporation, Kimberly-Clark, McDonald's(R), JCPenney.com, LandsEnd.com, Sears.com, and hundreds of others. Upromise also makes it easy for families to start their own college savings strategy through tax- advantaged 529 college savings plans, or by using Upromise contributions to help pay off student loans. These securities are offered through Upromise Investments, Inc. (member NASD/SIPC). Upromise is a wholly owned subsidiary of SLM Corporation (NYSE: SLM) , commonly known as Sallie Mae, the nation's leading provider of saving-and-paying-for-college programs. Upromise was founded in 2000, is headquartered in Newton, Mass., and has more than 350 employees. For additional information about Upromise, visit http://www.upromise.com/.

About Jellyfish

Jellyfish is a shopping search engine powered by a patent-pending form of online advertising that creates inherent price savings for online shoppers and risk free sales for advertisers. The first and only comparison shopping engine to share its advertising revenue directly with consumers, Jellyfish has generated millions of dollars of sales for its merchant partners and $100,000's of dollars in savings for its customers since its beta launch in June, 2006. The company was founded by seasoned entrepreneurs, Brian Wiegand (CEO) and Mark McGuire (President), and is based in Madison, Wisconsin.

About Grad Gold

Grad Gold, a Little Grad company, is a free and easy service that helps students and graduates turn their online shopping into savings that can be used to help pay off their student debt. Members are able to earn savings through either shopping through the Grad Gold site at http://www.gradgold.com/ or by downloading and installing the Grad Gold Savings Manager. Grad Gold offers savings with over 1600 leading merchants -- including top retailers such as Nordstrom, Overstock, Target, Hotwire and others. Privately held, Little Grad's executive team boasts extensive experience in the fields of online retailing and consumer technology. For merchants interested in joining the Grad Gold affiliate program, or for more information, please send email to info@gradgold.com or visit us on the Web at http://www.gradgold.com/. The company's headquarters are located in San Francisco, California.