Who We Are & What We Do
Education Finance Council supports state-based and nonprofit members’ public purpose mission to expand access to postsecondary education and training, facilitate student success, assist students and families in identifying their best sources of education funding, assist individuals with connecting postsecondary education and career outcomes, encourage responsible borrowing, and advocate for and with individuals in support of successful management of their postsecondary education financing.
Who We Are
Education Finance Council (EFC) is the national trade association representing nonprofit and state-based higher education finance organizations. These entities strive to increase postsecondary access and affordability in their states and nationwide.
What We Do
EFC furthers the public purpose mission of its members by advocating for them and the students they serve in our nation’s capital. We are trusted sources of information and policy experts for lawmakers and public officials who want to know how they can help students plan and pay for a postsecondary education and succeed after graduation.
Empowering Student Success
In the past year alone, EFC members provided over two million families with the resources they needed to successfully plan, save, and pay for college. They hosted FAFSA completion events, operated college planning centers, offered scholarships, managed 529 plans, held financial aid workshops, conducted financial literacy sessions, and administered support services to members of the military, veterans, and youth experiencing homelessness.
Low-Cost Nonprofit Loans
Some EFC members offer affordable student loans to families who require additional money to fund their studies and have the ability to repay the debt. Unlike for-profit companies, our members follow a set of guiding principles, and their nonprofit status means their interests are inherently aligned with the student. EFC members’ private student loan programs typically offer lower interest rates and low or no origination fees, which makes them more affordable than other private student loans.
Nonprofit Student Loan Servicing
Several EFC members service student loans including federal Direct Loans held by the Department of Education, commercially-held Federal Family Education Loan Program loans, and private student loans. They are trusted federal partners working every day to assist borrowers through repayment. Our members are on the frontlines helping borrowers avoid scammers and bad actors trying to swindle them.
Career Connected Learning and Support After Graduation
EFC members understand that completing an academic program is only the beginning for lifelong learners. To succeed after graduation, students must make a successful transition to employment or a new career path. Career connected learning programs help people of all ages and backgrounds continue their education, develop their skill sets, earn professional credentials, and identify opportunities leading to in-demand and high-paying jobs. Some EFC members also partner with employers to give borrowers a better chance to successfully repay their student loan debt.