Boston MA…American Student Assistance^®, the student loan guarantor with proven results in education debt management, has promoted longtime employee Robert (Bob) Cole to managing director of business development

Cole joined ASA in 1994. Most recently, he has served as ASA’s director of business development, playing an integral role in developing and maintaining the agency’s relationships with its school and lender partners. Cole also previously oversaw Federal Family Education Loan Program operations for the Finance Authority of Maine.

“Bob embodies so many of the attributes that define ASA,” said Michael Finn, ASA chief operating officer. “His commitment to education debt management for borrowers, his many years of experience in the student loan industry, and his strong customer service orientation all make him uniquely qualified to head up our sales efforts.”

In his new role as managing director, Cole will be directly overseeing the activities of the organization’s entire 28-member business development team as they reach out to potential clients to talk about the value that ASA provides.

“These are challenging economic times,” Cole said. “We believe, now more than ever, that ASA’s commitment to students’ financial wellness, along with our proven results in preventing student loan delinquency and default, will resonate with financial aid professionals.”

Concurrent with Cole’s promotion, ASA Vice President of Business Development Debra Chromy will be transitioning into a new role within the organization, focusing on the creation of strategic business initiatives for ASA.

Cole holds a bachelor’s degree from Bates University and is an active member of several financial aid associations. He can be reached at 617.728.4640 or rcole@amsa.com.

About American Student Assistance

American Student Assistance is a private, federally funded, nonprofit organization that helps students and parents manage higher education debt. Its unique Wellness programs give student loan borrowers the support they need to avoid default. Incorporated in 1956, ASA was the nation’s first private student loan guarantee agency and a model for the federal student loan program. As an administrator of the Federal Family Education Loan Program, ASA delivers quality default prevention, guarantee, origination and fund delivery services to students, parents, schools and lenders nationwide. ASA guarantees more than $2 billion in student loans annually and currently manages a student loan portfolio worth more than $45 billion. Based in Boston, American Student Assistance employs more than 700 associates nationwide and has been recognized by the Boston Business Journal and the Boston Globe as one of the region’s best places to work. Visit www.amsa.com or call 617.728.4631 for more information.