[May 09, 2008] ELM Resources Continues on Growth Trajectory Tweet OAKLAND, Calif. --(Business Wire)-- ELM Resources, a leading provider of technology products and services to the higher education financial aid industry, announced today that more than 40% of all student loans administered through the widely used, government-backed Federal Family Education Loan (FFEL) program was processed through ELM in 2007, a nearly 14% increase over 2006. ELM also saw its total number of school customers increase by 19% in 2007 when compared to the prior year with over 2,100 schools now using ELM to help process their loans. ELM disbursed over $19 billion dollars representing an 18% growth, a direct result of the increased popularity of its ELM NDN disbursement product. For the third year in a row, schools using ELM products rated ELM customer service greater than 90% in overall satisfaction. The 96% Excellent or Good rating is five percentage points higher than ELM achieved in 2006. 93% of schools also rated ELM customer service as good as or better than comparable systems in resolving issues, a two percentage point increase over the prior year. ELM's overall member satisfaction rating increased to 88% which represents a three percentage point increase over 2006. ELM was also able to continue its fourteen year trend of delivering lower member costs through company wide operational process improvements. Most members saw their overall cost to process loan files through ELM fall by 7% in 2007. Overall, ELM has reduced processing costs for its members by 33% when compared to five years ago and 72% when compared to ten years ago. "We had another excellent year at ELM by all key measures. We did it by maintaining a strong focus on execution across all of our key initiatives while driving operational efficiency throughout our organization. The net result of our efforts was a return to profitability in 2007," said Jeffrey Connors, CEO and President of ELM Resources. "Although we acknowledge the ongoing challenges that are occurring in student lending, we are well positioned with our open and lender neutral platform to continue to grow our market share in FFEL and alternative loan processing in 2008." About ELM Resources ELM Resources began in 1994 and is the only not-for-profit, mutual benefit corporation serving the student loan industry today, including universities, colleges, lenders and guarantors. ELM provides a common, non-proprietary, and open data exchange and disbursement system that seamlessly links the diverse computing platforms of schools, lenders and guarantors while providing real-time loan inquiry to borrowers. ELM also offers an online lender selection solution to schools to display their recommended lender lists. Over 2,100 schools use ELM Resources to send and receive loan data from FFELP and alternative loans with the lender or guarantor of their choice. More information about ELM Resources is available at www.elmresources.com. [ Back To TMCnet.com's Homepage ]