Education Loan Source, Inc. (ELS), in partnership with Sterling Education Finance, LLC (Sterling) has announced its launch of the Health Profession Loan (HPL) through ELS’ Custom Loan Source(sm) Program for Rocky Vista University, located in Parker, Colorado.
Rocky Vista University, with students trained in osteopathic medicine, has disbursed approximately $7MM in loan volume since its August launch with pending disbursements of an additional $7MM. “Our students are facing significant challenges in paying for college since traditional financing options are becoming more difficult to access,” said Kathy Leary, Director of Financial Aid at Rocky Vista University. “The HPL Custom Loan Source Program provides our institution with the opportunity to offer an alternative private loan program which specifically meets some of the unique needs of our students.”
The Custom Loan Source Program is highly flexible and customizable private education loan that can be implemented quickly and easily. “Our Program provides the ability for the school to choose the best private loan product features for its students and their families while meeting the school’s needs and financial objectives,” said Douglas Feist, Chief Executive Officer of ELS. “At ELS, it is our mission to help schools find additional low-cost funding options for their students and the Rocky Vista University program is another example of that goal.”
ELS manages the entire HPL Program for Rocky Vista University from product development and vendor relationships to loan portfolio administration services. Servicing is performed by AES/PHEAA.
Nancy Chalker, Regional Vice President at Sterling Education Finance, is the relationship manager for Rocky Vista and identified the HPL Program as a product that could meet the school’s short timeline without sacrificing a competitive product for students. “Offering the HPL Custom Loan Source Program creates a win/win situation for Rocky Vista University and their students.”
For more information on the Custom Loan Source Program go to (www.sterlingeducationfinance.org) or call Pat Cook at (828) 335-1092.