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FOR IMMEDIATE RELEASE

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FIRST-OF-ITS-KIND SCHOLARSHIPS FOR DISTANCE STUDENTS
Chela Education Financing To Award $30,000 In Scholarships To Support Distance Education Trend

SAN FRANCISCO, CA (April 26, 2004) - Recognizing the growing popularity of distance education programs and subsequent needs of distance learning students, Chela Education Financing has created the first merit-based scholarship program exclusively for distance students enrolled in accredited degree programs.

"We are excited to be the leader in scholarship awards for distance learners," says Doug Dolton, President and CEO, Chela Education Financing. "We recognize that distance education is one of the most powerful solutions in the education marketplace today, and we are pleased to add this scholarship to Chela's extensive list of financial aid solutions."

Chela estimates that in 2004, nearly one million students will enroll in distance degree programs. Categories of distance learners include working adults, single parents, military personnel and the physically challenged.

The $30,000 "Go The Distance" Scholarship Program will bring higher education that much closer for 30 distance students, each of whom will be awarded $1,000 to apply to their education costs. Scholarship applications will be accepted from April 20, 2004 until July 5, 2004. Further information can be found at www.DEResource.org.

Chela's core philosophy "We're in it for the students" means fulfilling an obligation to all students, including nontraditional students such as distance learners. Chela recognizes these students face particular challenges balancing job, family and school responsibilities.

For these busy students, finding financial resources to pay for school is an additional pressure, and many are unaware of the financial aid opportunities available to them. Chela has created Distance Education Resource (DEResource.org) to help them make informed decisions about paying for their education. This valuable website helps online schools enroll and retain students by providing education financing information, tools and products, such as:

• Applications and information on the "Go The Distance" scholarship
• What to look for in a distance program
• Distance education financing tips
• Student loan information and products
• FAQs about distance education financing
• Distance program and student spotlights

For more information about Chela Education Financing, DEResource.org and the "Go The Distance" scholarship program, please contact Jane Lee at 415.283.2788 or jlee@chelafin.org.

About Chela Education Financing
For over 25 years, Chela has had a single purpose - to provide students and their families with the best education financing solutions. We put our money where it belongs - in the hands of students - with interest rate savings, rebate programs, year-round scholarships, and more. To learn more about this leading not-for-profit education finance provider, call 888-34-CHELA, or visit our websites at deresource.org and chelastudentloans.org.

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