Education Finance Council: Student Loan Standards
The Education Finance Council (EFC) is a nationwide coalition of nonprofit student aid providers committed to making college more affordable. Its voting members, thirty-four nonprofit and state-based student loan providers, secondary markets, and scholarship funding corporations, adhere to the highest standards of conduct in order to earn and keep the trust of the students and families, and the colleges and universities, that they serve. These organizations are guided and governed by their public-purpose mission.
EFC has joined with the broader federal student loan community to develop Student Loan Business Practices for participants in the Federal Family Education Loan Program (FFELP). Those principles can be viewed here. These principles build upon a series of Guidelines for FFELP Industry Practices developed and endorsed by industry participants back in 2004, which are available here.
Nonprofit student loan providers offer comprehensive services to help students before, during and after their college careers. This includes extensive college outreach and planning services to assist students as they prepare to enroll; information and resources to help students make wise borrowing decisions; and a wide range of benefits provided up-front and during repayment in order to ease the repayment process and make student loans less expensive.
Planning and paying for college is a process that can seem daunting for students and families. EFC members are committed to providing guidance, information and resources to assist in this process, and they do so in a manner consistent with their public-purpose mission and the EFC mission: Making College More Affordable.
Click here to see the Student Loan Business Practices endorsed by the Education Finance Council and the National Council of Higher Education Loan Programs.
The Education Finance Council (EFC) is a nationwide coalition of nonprofit student aid providers committed to making college more affordable. Its voting members, thirty-four nonprofit and state-based student loan providers, secondary markets, and scholarship funding corporations, adhere to the highest standards of conduct in order to earn and keep the trust of the students and families, and the colleges and universities, that they serve. These organizations are guided and governed by their public-purpose mission.
EFC has joined with the broader federal student loan community to develop Student Loan Business Practices for participants in the Federal Family Education Loan Program (FFELP). Those principles can be viewed here. These principles build upon a series of Guidelines for FFELP Industry Practices developed and endorsed by industry participants back in 2004, which are available here.
Nonprofit student loan providers offer comprehensive services to help students before, during and after their college careers. This includes extensive college outreach and planning services to assist students as they prepare to enroll; information and resources to help students make wise borrowing decisions; and a wide range of benefits provided up-front and during repayment in order to ease the repayment process and make student loans less expensive.
Planning and paying for college is a process that can seem daunting for students and families. EFC members are committed to providing guidance, information and resources to assist in this process, and they do so in a manner consistent with their public-purpose mission and the EFC mission: Making College More Affordable.
Click here to see the Student Loan Business Practices endorsed by the Education Finance Council and the National Council of Higher Education Loan Programs.
