MEDFORD, MA--(Marketwired - Jul 15, 2015) - The First Marblehead Corporation (
"The completion of the Joint Committee's review, and its decision to take no exception to the IRS's decision, was the final hurdle for us in this matter," said Daniel Meyers, Chairman and Chief Executive Officer. "We are pleased that the IRS audit is finally behind us and again want to extend our thanks to our trusted advisors who worked tirelessly to bring this matter to its rightful conclusion," he continued.
About The First Marblehead Corporation: First Marblehead helps meet the need for education financing by offering national and regional financial institutions and educational institutions the Monogram® platform, an integrated suite of design, implementation and credit risk management services for private label, customizable private education loan programs. For more information, please see www.firstmarblehead.com. First Marblehead supports responsible lending and is a strong proponent of the smart borrowing principle, which encourages students to access scholarships, grants and federally-guaranteed loans before considering private education loans; please see www.SmartBorrowing.org. First Marblehead also offers outsourced tuition planning, billing, payment technology services and refund management services through its subsidiary Tuition Management Systems LLC. For more information, please see www.afford.com. Through its subsidiary, Cology LLC, First Marblehead offers private education loan processing and disbursement services for lenders. For more information, please see www2.cology.com.