Foundation for California Community Colleges Partners with Regent to Provide Cost Savings on Financial Aid Software

Volume purchasing agreement with nation’s largest higher education system will enable lower costs, higher student service for California Community Colleges

Frederick, MD -- May 22, 2008 – Regent Education, the leading provider of financial aid management Software-as-a-Service (SaaS) solutions for higher education institutions, today announced that it has entered into an agreement with the Foundation for California Community Colleges to enable California’s community colleges to easily acquire and deploy the Regent Enterprise financial aid management solution.

The Foundation for California Community Colleges signed a 5-year blanket purchase agreement with Regent to provide the 109 institutions, consisting of more than 2.6 million students per year in the California community colleges system, with the opportunity to implement Regent Enterprise. The negotiated contract offers each California community college a fixed, all-inclusive price, encompassing all software licensing, implementation and training.

As the first SaaS solution available for this market, Regent Enterprise supports multiple Pell IDs and/or multiple campuses, all from a single database, enabling the colleges to have a complete enterprise view. Additionally, Regent’s on-demand solution will provide the participating colleges with automatic, real-time upgrades ensuring compliance with state and federal regulations, rapid deployment, and a technology platform that will grow as they do.

“The Foundation is committed to providing California community colleges with services and benefits that are vital to their missions, and to helping them enhance the student experience,” said Paul Lanning, Ed.D., the Foundation for California Community College’s President and CEO. “Regent is a best-of-breed company with a solution that will help us accomplish both objectives. Once a college implements the Regent product suite, campus financial aid administrators will be able to dedicate more time to serving students – the number one priority for both the colleges and the Foundation.”

The Foundation for California Community Colleges is a unique non-profit organization that benefits, supports, and enhances California’s community colleges. As the official non-profit auxiliary organization partnering with the California Community Colleges’ Board of Governors and System Office, the Foundation develops programs and services that save millions of dollars for colleges and students, promotes excellence in education, and provides valuable learning opportunities for students throughout the state. The Foundation also supports the system through special initiatives, statewide awards, and direct donations to the colleges and the Network of California Community College Foundations.

“The colleges that make up the California Community College System are highly diverse, each having unique requirements. Regent Enterprise is ideal, as it is a highly-flexible software system that can be configured for each individual school, whether term or non-term, single campus or multi-campus, or regardless of the number of Pell IDs,” said Michael Ratti, Regent’s CEO. “We are extremely proud to be working with the California community colleges, and we look forward to a long-lasting partnership.”

About Regent

Named Firm of the Year by the Tech Council of Maryland and a 2008 CODiE Award Finalist for Best Postsecondary Enterprise Solution, Regent Education is a leading Software-as-a-Service (SaaS) provider of financial aid management software solutions with more than 30 years of industry experience. The company’s Web-based, easy-to-use solutions interoperate with any established student information system. Regent Education provides institutions with improved efficiencies, fewer errors, and enhanced services for students, equaling a positive return on investment within the first year.

Regent Education’s management solutions are designed and built by and for members of the financial aid and enrollment management community. Regent Education enables institutions to better craft and execute their financial aid strategy. With the Student Self Service Portal, the company also offers Twenty-first century access for students seeking financial aid information anytime, anywhere, from any device, in any language. For more information, visit: www.regenteducation.com.

About the Foundation for California Community Colleges

The Foundation for California Community Colleges is the official auxiliary to the California Community Colleges’ Board of Governors, Chancellor, and System Office. The Foundation’s mission is to benefit, support, and enhance the missions of the California Community College System, the largest higher education system in the nation. Incorporated in 1998, the Foundation works with community colleges and partner organizations to manage donations, grants, programs, and services that drive excellence in education, while saving millions of dollars for colleges each year. The Foundation is a 501(c)(3) tax-exempt, non-profit corporation and receives no direct state or public support. For more information, visit www.foundationccc.org.