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Posted January 3, 2005

Sandpoint, Idaho
Elizabeth Ellison, President

[New Perspectives schools and programs are those new to Woodbury Reports, Inc., and are presented to expand your knowledge, with the disclaimer that we know little more about them at this time than what appears here. Inclusion in Places for Struggling Teens, of course, does not imply any endorsement by Woodbury Reports, Inc. -Lon]

Elizabeth Ellison founded Cornerstone Education Loans in an effort to provide parents with the resources necessary to offer their child the best quality education within affordable boundaries. Families work directly with the staff at Cornerstone, who will gather the necessary information and documentation needed to obtain a loan for children in grades K-12.

"A K-12 loan is a non-collateralized loan. It also has a tax-deductible interest rate that is based on LIBOR (London InterBank Offered Rate), which is at least 1-1.5 percent lower than a home mortgage." The loan is available for most education related expenses, including enrollment, ancillary or testing fees, books, computers, and depending on the school, it may also include other out-of-pocket expenses such as an educational consultant, escort/ travel fees, parent workshops, etc.

Cornerstone strives to assist families in finding the right funding sources by helping parents design a loan that fits their financial while simplifying the loan process. “We remove the guesswork and minimize the amount of paperwork needed for the loan by working with lenders who understand the needs of our students and help to make the loan process easy.”

Families do not need collateral to secure the loan or worry about a pre-payment penalty for paying the loan off early. All loans secured by Cornerstone have low monthly payments amortized over 20 years. “The family does not need to exhaust savings, or use retirement funds, or home equity to obtain a pre-approved loan. And, if the loan is denied, the family does not owe any money to Cornerstone.”

At Cornerstone, the staff prepares a detailed worksheet of the loan information, submits the completed application by fax, phone or email, contacts the lending company daily until the final disbursement of the loan is made to the school, and acts as a liaison between the family, school and lending institution.

Copyright © 2005, Woodbury Reports, Inc. All Rights Reserved.
(This article may not be reproduced without written approval of the publisher.)

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