BOSTON, MA--(Marketwire - June 28, 2010) - The First Marblehead Corporation (NYSE: FMD) (the "Company") today announced that it has entered into a loan program agreement (the "Agreement") with Kinecta Federal Credit Union, a California-based federal credit union with over $3.5 billion in assets. The Agreement is effective immediately, and the loan program is expected to be fully implemented in August 2010.