WILLIAMS ANNOUNCES THAT ELECTRONIC SIGNATURES MAY NOW BE USED TO COMPLETE MASTER PROMISSORY NOTES FOR PARENT LOANS FOR UNDERGRADUATE STUDENTS

HARRISBURG, June 13, 2003 - State Senator Connie Williams (D-Montgomery/Delaware) today announced that Master Promissory Notes (MPN) for PLUS (Parent Loans for Undergraduate Students) loan applications now may be completed, signed with an electronic signature (e-signature) and submitted online, making the process easier for parent borrowers.

Parents may visit www.aessuccess.org to get an instant PLUS loan pre-approval and complete the PLUS MPN online. An electronic signature is required which is the equivalent of a U.S. Department of Education Personal Identification Number (PIN). The MPN is required by many schools in order to complete the federal guaranteed parent loan process.

“The implementation of e-signatures makes it much more convenient for parents to apply for low-cost PLUS loans,” Williams said.

“Now any parent with access to the Internet can apply within minutes for help in paying for their child’s education.”

American Education Services (AES), a division of the Pennsylvania Higher Education Assistance Agency (PHEAA), pioneered the technology that has enabled parents to complete the application process online through electronic signatures.

Parents who choose not to electronically sign their PLUS MPN have the option of printing it from their computer and mailing it to AES. They also may request that AES print and mail the PLUS MPN for the parent(s) to sign and return.

“I hope that many parents take advantage of this convenient and secure online process which may help pay for their children’s education.”