FOR IMMEDIATE RELEASE
Gina LaGuardia, Editorial Director
718-761-4800, ext. 49
KEY EDUCATION RESOURCES SIGNS AGREEMENT WITH CLASSESUSA
CLEVELAND, January 23, 2004 - Key Education Resources®, the education financing arm of KeyCorp, has signed an agreement with ClassesUSA, a multi-media company focused on interactive distance learning. Under the agreement, ClassesUSA will promote exclusively Key's education loan products on its Web site at www.classesusa.com/featured_lenders/index.html.
There will be direct links from ClassesUSA's site to the Key Education Resources (KER) site at Key.com/educate. Clients of ClassesUSA will have immediate access to KER's financing options, whether they are pursuing undergraduate or graduate degrees or continuing education coursework. ClassesUSA has created an education loan center on its site from which users can access KER's financing options through an easy-to-use "wizard." After following the steps in the wizard, they will be directed to a financing option page highlighting features and benefits and providing direct links to KER's online applications.
"Online distance learning is one of the fastest-growing markets in education," said Su Joun, vice president, business development for Key Education Resources. "Key's agreement with ClassesUSA allows us to collaborate with premier providers of online education by providing financing solutions for their students."
Indeed, distance learning is becoming an increasingly significant facet of education. According to the National Center for Education Statistics (NCES), there were more than three million enrollees in all distance education courses offered by two- and four-year institutions during the 12-month 2000-2001 academic year. In the same year, the NCES reports that 90 percent of public two-year and 89 percent of public four-year institutions offered distance education courses. In addition, 16 percent of private two-year and 40 percent of private four-year institutions offered distance education courses.
"Adults are turning to online degree programs and other interactive education pursuits in record numbers," said Jordon Keltz, CEO of ClassesUSA. "Our agreement with Key Education Resources allows us to enrich our users' experiences by providing easy access to a trusted source for education financing solutions."
ClassesUSA is a multi-media company focused on interactive educational content and commerce. The Internet's premier destination site for adults interested in online degree programs and other educational opportunities, ClassesUSA has established itself as the most trusted and recognized brand partnering with colleges and universities, online class providers, and media companies to provide adult learners the highest quality resources available to enhance their education, their career, and their lives.
About Key Education Resources
Key Education Resources, a division of Key Bank USA, N.A., is one of the largest education loan providers in the U.S. In business for 50 years, Key Education Resources provides federal education loans, private loans, monthly payment plans and education consolidation loans for students and families in K-12, undergraduate, graduate and continuing education institutions and programs. The Key Education Resource Line® (1.800.KEY.LEND) and Web site (Key.com/educate) provide information about the education financing process, including online calculators and scholarship information, loan products and consolidation, and offer instant credit decisioning.
Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $84 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. The company's businesses deliver their products and services through KeyCenters and offices; a network of nearly 2,200 ATMs; telephone banking centers (1.800.KEY2YOU); and a Web site, Key.com,â that provides account access and financial products 24 hours a day.