Helping families plan & pay for college

Education Finance Council (EFC) is the national trade association representing nonprofit and state-based higher education finance organizations. All EFC Members, as public-purpose organizations, strive to increase college access, success, and affordability in their states and nationwide, operating as supplemental loan originators and loan servicers while providing a wide array of college access and student success services and resources. In 2016, EFC Members directly worked with over 2.5 million families to help them successfully plan, save, and pay for college.

EFC Members, who are intimately involved with their communities, have the knowledge necessary to serve the unique needs of their communities and states, and work to ensure that all families — especially middle-income borrowers and first-generation or low-income students with no family experience in the intricacies of education financing — are provided the tools and guidance they need to choose the best-fit school, borrow appropriately, complete their degree, maximize their earning potential, and successfully repay their loans.

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EFC Featured Member


The Connecticut Higher Education Supplemental Loan Authority (CHESLA) was created by the Connecticut General Assembly in 1982 to help students and their families meet the costs of higher education.


The mission of the Authority is to expand higher educational opportunities and enhance the state’s economic development through higher education by providing cost-effective education financing programs and information resources to Connecticut students, alumni and their families.


CHESLA’s Need-Based Scholarship Program provides scholarships to Connecticut residents attending Connecticut public or private nonprofit degree-granting institutions of higher education within the state. The scholarships are awarded through the financial aid offices of the schools. As of March 31, 2018, CHESLA’s Scholarship Program had disbursed $5.5 million in scholarship funds, impacting 2,858 students since the program’s inception in the 2015-2016 Academic Year.


CHESLA’s financial literacy portal, CT Dollars & Sense, launched in February 2017. CT Dollars & Sense is a “one-stop shop” of information and resources for Connecticut students and their families to help plan, save, and pay for college. CHESLA partnered with four other state agencies (CHET, Office of Higher Education, Department of Consumer Protection, and Department of Banking) on the portal.


Nonprofit & State-Based outreach programs

Over the past year, EFC Members directly worked with over 2.5 million families to help them successfully plan, save, and pay for college.


Check out EFC’s 2018 Data Report Book for in-depth info on these outreach programs.

EFC Members offer and partner with organizations in their state that offer assistance and individual counseling on every facet of the higher
education financing process.

These programs include college planning services, counseling on financial aid options and processes, assistance with understanding financial aid  award letters, providing financial literacy education, administering millions of dollars in state grants and scholarships, and assisting borrowers and their families with managing loan repayment.

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2019 EFC CXO Summit

3/14/2019 » 3/15/2019
2019 Annual Membership Meeting

9/12/2019 » 9/13/2019
2019 EFC Mid-Year Membership Meeting