Student Loan Xpress Introduces 'Xtreme Rewards'

March 25

 
    SAN DIEGO, March 25 /PRNewswire/ -- Student Loan Xpress, Inc., one of the
nation's fastest-growing providers of higher education funding options and a
subsidiary of Education Lending Group, Inc. (Nasdaq: EDLG) today announced its
Xtreme Rewards(SM) benefit program for student loan borrowers.  This new
program offers generous savings and favorable loan repayment terms, including
the following options:

     *  Undergraduate Stafford borrowers can receive a 1 percent principal
        reduction and Parent Loan (PLUS) borrowers a 3 percent principal
        reduction at full disbursement.

     *  Qualified Stafford borrowers can receive three months of repayment
        relief upon graduation, following their grace period.  This gives
        students nine months to get their finances in order before making
        their first payment -- and students entering health professions can
        defer until three months after their internship or residency ends.

     *  No origination or guarantee fees are charged or subtracted from the
        Stafford loan disbursement amount for graduate, law and health
        professions students.

     *  Stafford and PLUS borrowers can receive a .25 percent interest rate
        reduction when they sign up for loan payment auto-debit.  Health
        Professions and Law borrowers receive an additional 2 percent
        reduction after the first 48 payments are made on time.

    "At Student Loan Xpress, we're committed to offering schools, parents and
students real financial benefits," says Fabrizio "Breeze" Balestri, president
and CEO of Student Loan Xpress, Inc.  "The Xtreme Rewards program gives
families ideal options to help them finance a college education."
    Students, parents and schools can learn more about the new Student Loan
Xpress Xtreme Rewards program by calling 1-877-SLX-PRES or visiting
http://www.studentloanxpress.com/xr.

    ABOUT STUDENT LOAN XPRESS AND EDUCATION LENDING GROUP
    Student Loan Xpress, Inc., a subsidiary of Education Lending Group, Inc.
(Nasdaq: EDLG), is a national lender of federal Stafford and federal PLUS
loans, and provides access to alternative (private) education loans, with a
long-term commitment to students and families.  Based in San Diego, Student
Loan Xpress utilizes Fifth Third Bank as its eligible lender trustee.  Student
Loan Xpress is a registered trademark of Student Loan Xpress, Inc.  For more
information, call 1-877-SLX-PRES or visit http://www.studentloanxpress.com.

    Education Lending Group is a specialty finance company principally engaged
in providing student loan products, services and solutions to students,
parents, schools and alumni associations.  Its business is focused on
originating and purchasing guaranteed student loans through the Federal Family
Education Loan Program (FFELP), including consolidation loans, Stafford loans
and Parent Loans for Undergraduate Students (PLUS).  For more information,
visit http://www.educationlendinggroup.com.

    This press release may include forward-looking statements within the
meaning of Section 7A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934.  We have based these
forward-looking statements on the Company's current expectations and
projections about future events.  These forward-looking statements are subject
to known and unknown risks, uncertainties and assumptions about us and the
Company's affiliate companies, that may cause the Company's actual results,
levels of activity, performance or achievements to be materially different
from any future results, levels of activity, performance or achievements
expressed or implied by such forward-looking statements.  In some cases, you
can identify forward-looking statements by terminology such as "may," "will,"
"should," "could," "would," "expect," "plan," "anticipate," "believe,"
"estimate," "continue," or the negative of such terms or other similar
expressions.  Factors that might cause or contribute to such a discrepancy
include, but are not limited to, those identified in the Company's Securities
and Exchange Commission filings, including the Company's 2003 Annual Report on
Form 10-K, filed on March 12, 2004.  The discussion should be read in
conjunction with the Company's Financial Statements and related Notes thereto
included in the Company's Form 10-K and Form 10-Q filings.