Released on = June 29, 2007, 12:15 pm

Press Release Author = Brooke Heath

Industry = Financial

Press Release Summary = Prospective University of Wisconsin students may lose grant
funding due to shortage of money in the state\'s budget.

Press Release Body = Madison, WI, June 29, 2007-Due to the unpredictable budget for
the state of Wisconsin, low-income students applying for financial aid to attend any
of the University of Wisconsin campuses will be placed on a waiting list.

According to Higher Education Washington, Inc.'s NewsLine, the Wisconsin Higher
Education Grant Program, which funds need-based grants of as much as $2,730 per year
for students, is running out of money.

The Higher Educational Aids Board, which implemented the list, started this year's
waiting list earlier than ever before due to uncertainty regarding when the state
budget will become law and the amount of funding the program will be allotted. This
uncertainty is a big concern for prospective University of Wisconsin students as the
board has promised more than 22,000 grants for the next school year and hoped to
offer 2,000 additional awards, according to NewsLine.

There is a possibility that the grants will be freed for students on the waiting
list once the budget goes into effect later this year, but it is not certain that
this will happen, according to Channel 3000 news in Wisconsin.

Democrats and Republicans disagree on how to deal with the problem. Democrats,
including Wisconsin Governor Jim Doyle, have proposed increasing the program's
funding from its current $43 million to $50 million. Republicans, however, hope to
reduce the budget to $39 million.

Some school officials fear that the uncertainty of whether low-income students will
receive the financial aid they need may discourage students from beginning school in
the fall.

"It's disturbing to learn that students who need and deserve financial aid may not
be able to receive it," said EdFed customer service manager Jodie Corzano. "At
EdFed, we hope to assist students with finding funding so that they can realize
their dreams of a higher education."


Web Site = http://www.edfed.com

Contact Details = Contact:
Brooke Heath
EdFed
175 S. Lake Ave., Suite 200
Pasadena, CA 91101
626-243-9423
bheath@edfed.com