DBRS Assigns Final Ratings to Educational Funding Services, Inc., Series 2006-1 and 2005-1

Dominion Bond Rating Service (DBRS) has assigned final ratings of AAA through “A” as indicated above to the various classes of Student Loan Asset-Backed Notes, Series 2005-1 and 2006-1 issued by Educational Funding Services, Inc. (EFSI).

The 2006-1 Notes were issued on August 16, 2006, while the 2005-1 Notes were issued on September 9, 2005. The 2006-1 Class A-1 Notes are tax-exempt 35-day auction-rate notes with interest payable semi-annually on each June 1 and December 1, beginning December 2006. The 2006-1 Class
A-2, A-3 and B-1 Notes are taxable 28-day auction-rate notes with interest payable on the first business day following the end of each auction period.

The collateral for the notes consists of student loans originated under the Federal Family Education Loan Program (FFELP). FFELP loans are guaranteed for up to 98% of defaulted principal and accrued interest by eligible guarantors and reinsured by the U.S. Department of Education (ED). All of the loans in the portfolio have “special allowance payment” rates based on the 90-day commercial paper rate.

All figures are in U.S. dollars unless otherwise noted.