student loan servicing

between starting a new career and gettingestablished in the world, today's young professionals encounter many challenges while repaying theirstudent loans. no one makes those challenges easier to overcome than mohela. much morethan a student loan servicer, mohela is a not-for-profit organization with a longstandingrecord of financial stability that's dedicated to helping families afford college. we beganearning the trust of schools and students more than 30 years ago, and now service aloan portfolio of more than 25 billion dollars. everyday, over 450 employees come to workto make life easier for financial aid officers and give graduates the best start possible.so the student loan is very critical to the overall package that gets borrowers to schooland through school. there are a variety of

different options with these types of loans,and there's always something that we can do to assist the customer to help them throughtheir situation. mohela i think takes and extra step in making sure that they are helpingthe borrower. they really want to make sure that the student is able to make the paymentthat is required. we provide and extensive eight week training program that includesin-classroom training, and also on-the-job training, where they actually pull up a chair,sit side by side with a mentor, and they actually perform on-the-job duties. we also providea live agent 99.5% of the time within 60 seconds. they don't need to get busy signals when theycall into the office. they don't need to be on hold for an extended period of time, orto be caught up in a voice response unit when

they can't get to a live person. we investall of the income we receive back into excellent customer service, default prevention, andan overall better borrower experience. we can speak with the student, and even connectthem up on a three-way call with mohela, and provide them with the information that theyneed to get out of delinquency and try to avoid default. we believe that it's how weinteract with our customers and take care of them that gives them such a positive experience.building on that success, mohela continues to position itself by dramatically expandingin scale and capacity to continue to meet and exceed the responsibility of being a federalloan servicer. we've created over 200 new jobs and look forward to adding additionalpositions as demand and service levels dictate.

mohela's position to service more loans inthe future through our servicing expansion, our facilities expansion, and the abilityto scale capacity very quickly. we have also secured an offsite immediate redundant backupsite in columbia, missouri so that if there is an emergency or some type of disaster thatmay happen, we would be up and running without skipping a beat. our data center uses virtualizationtechnology, and it enables us to on demand spin up additional capacity as we need itto help grow. with the processes and procedures in place to meet federal loan servicing standards,the staff at mohela is ready to embrace what's next. i would say that's one strength of mohela'sthat we are very adaptable. mohela is committed to the future of the student loan industryand we're excited about it. we are energized and

excited about the additional borrowers, students,and families that we can continue to assist on a daily basis. there's a side of this businesswe look at as an economic development engine. we help student achieve their dreams, whichtranslates into success in a region and success nationally.