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About Us

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.

EFC Members carry out their missions by providing a wide array of college access, student success, and financial literacy services and resources; operating as nonprofit loan servicers; and offering consumer-friendly loan options.

Postsecondary Access & Success

In the past year alone, EFC Members provided over 2.5 million families the resources needed to successfully plan, save, and pay for college. These resources include FAFSA completion events and help centers, scholarship programs, college planning centers, financial aid workshops and information sessions, financial literacy workshops, and support services for members of the military, veterans, and at-risk and low-income youth, including homeless and foster youth.

A number of EFC Members also work collaboratively within their states to implement education-to-employment pathways programs that address specific workforce development needs in their states.


Low-Cost Nonprofit Loans

EFC Members — while considered part of the private loan market — are distinct from traditional commercial financial institutions that make and service education loans.

A number of EFC Members offer low-cost loans as part of a comprehensive package of services to assist middle-income families with paying for college. These suites of state-based services are highlighted on EFC’s “For You, Not for Profit” website. These state-based and nonprofit programs offer low interest rates, low or no origination fees, and lower monthly payments and lower total debt than many other education loan options, including the Federal PLUS loan.

Additionally, many EFC Members offer refinancing programs that help borrowers to better manage their student loan debt.


Nonprofit Loan Servicing

Several EFC Members contract with the federal government to service Federal Direct Loans. Some Members also still service older FFELP loans. EFC Members provide exemplary service to borrowers and the Education Department.

As nonprofit organizations, EFC members' interests are inherently aligned with borrowers.