Educational Funding Services calls $71.35 million student loan bonds

By Marisa Wong

Madison, Wis., June 21 - Educational Funding Services, Inc. said it will redeem its $71.35 million of outstanding series 2007-1 A1 variable-rate student loan asset-backed notes due Dec. 1, 2042.

The notes will be redeemed on July 6 at par plus accrued interest to the redemption date.

The redemption will be funded with proceeds from the sale of new notes by Brazos Higher Education Authority, Inc.

Educational Funding and Brazos are part of Waco, Texas-based Brazos Higher Education Service Corp., Inc., which provides management services to nonprofit higher education financing corporations.

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