-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 TJKteill+W1fWPoW8Y5BIVHHemPQfDV82hFSPNDVIO/L072nnjZqNQJEMWXsI1BH
 o00dbV4qGiCrbo4fqRkF+A==

<SEC-DOCUMENT>0001181431-04-039007.txt : 20040805
<SEC-HEADER>0001181431-04-039007.hdr.sgml : 20040805
<ACCEPTANCE-DATETIME>20040805183530
ACCESSION NUMBER:		0001181431-04-039007
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040630
FILED AS OF DATE:		20040805

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EDUCATION LENDING GROUP INC
		CENTRAL INDEX KEY:			0001103313
		STANDARD INDUSTRIAL CLASSIFICATION:	PERSONAL CREDIT INSTITUTIONS [6141]
		IRS NUMBER:				330851387
		STATE OF INCORPORATION:			DE

	BUSINESS ADDRESS:	
		STREET 1:		12760 HIGH BLUFF DRIVE
		STREET 2:		SUITE 210
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92130
		BUSINESS PHONE:		8586176080

	MAIL ADDRESS:	
		STREET 1:		12760 HIGH BLUFF DRIVE
		STREET 2:		SUITE 210
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92130

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DIRECT III MARKETING INC
		DATE OF NAME CHANGE:	20000316

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BUSHLEY C DAVID
		CENTRAL INDEX KEY:			0001227892

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-29995
		FILM NUMBER:		04955875

	BUSINESS ADDRESS:	
		STREET 1:		78 STEEPHILL ROAD
		CITY:			WESTON
		STATE:			CT
		ZIP:			06883
		BUSINESS PHONE:		2033521615

	MAIL ADDRESS:	
		STREET 1:		78 STEEPHILL ROAD
		CITY:			WESTON
		STATE:			CT
		ZIP:			06883
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd49879.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-06-30</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001103313</issuerCik>
        <issuerName>EDUCATION LENDING GROUP INC</issuerName>
        <issuerTradingSymbol>EDLG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001227892</rptOwnerCik>
            <rptOwnerName>BUSHLEY C DAVID</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>78 STEEPHILL ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WESTON</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06883</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $.001 par value per share</value>
            </securityTitle>
            <transactionDate>
                <value>2004-06-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>517</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>17.75</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>517</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <ownerSignature>
        <signatureName>/s/ C. David Bushley</signatureName>
        <signatureDate>2004-08-05</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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