EFC is the national trade association representing nonprofit and state-based higher education finance organizations that are dedicated to improving college access, success, and affordability in their states and nationwide. EFC member organizations have a distinguished history of providing extensive and comprehensive services to student loan borrowers nationwide. Since its founding in 1992, EFC, working collaboratively with its member organizations, has developed a wealth of expertise in both the financial aid and the higher education access and success spheres.
EFC offers two levels of membership: Voting and Affiliate.
- EFC Voting Membership is open to private and public nonprofit organizations and state agencies whose primary purpose is the purchase, servicing, origination, or funding of education loans and the improvement of students and families’ access to and success in higher education.
- EFC Affiliate Membership is open to nonprofit and for-profit organizations interested in the availability, administration, or funding of education loans and may include banks, credit unions, guaranty agencies, brokerage firms, rating agencies, debt collection organizations, loan servicers, bond counsel, accounting firms, student loan finance corporations, and software developers.
EFC Affiliate Member Benefits
EFC offers its members a wide range of benefits including, but not limited to: networking opportunities with EFC Voting Members, unparalleled information resources, EFC publications, specialized meetings and events, college success initiatives, advocacy, access to the expertise of the EFC staff, and numerous opportunities to collaborate with EFC staff and members.
Networking Opportunities — EFC provides its Affiliate Members with the opportunity to network with its Voting Members at several of EFC’s sponsored events. Since 2016, EFC has hosted an annual CXO Summit, which provides Affiliate Members the opportunity to meet face-to-face with EFC Members that are interested in purchasing their services. In addition, EFC publishes an annual EFC Affiliate Member Services Guide, highlighting the products and services its Affiliate Members offer.
EFC Publications — EFC provides its members with a daily, weekly, and quarterly publication:
- EFC Exchange: The EFC Exchange provides an in-depth and comprehensive daily synopsis and analysis of relevant industry, congressional, regulatory, political, and economic issues and news.
- ICYMI: 5 Top Stories From Last Week: Each Monday, EFC compiles and sends a rundown of the previous week’s top five news items.
- EFC Quarterly Review: The EFC Quarterly Review provides an overview and summary of the previous quarters’ key political, regulatory, economic, and industry happenings.
- Affiliate Member Services Guide: The Affiliate Services Guide highlights Affiliate Member services to EFC Voting Members. The Guide is published on the EFC website and Voting Members are encouraged to utilize to it when looking for new services or vendors.
Unparalleled Information Resources — EFC provides its members with news and issue analysis relating to all aspects of education finance and student success programs, including press releases, publications, media hits, announcements, research, reports and surveys, and other information from EFC and its members.
Specialized Meetings & Events — EFC meetings and events are recognized as being the most substantive and informative in the student loan industry. EFC Members receive a substantially reduced rate to attend EFC events and are afforded the opportunity to participate in certain specialized events open only to EFC Members. EFC events are planned to both provide relevant and timely information and to offer EFC Members valuable networking opportunities.
- EFC Annual Membership Meeting: Held annually in the spring, the EFC Annual Membership Meeting is EFC’s largest conference and is well-attended by EFC Members and non-members alike. The Annual Membership Meeting brings together financial industry participants, policymakers, and higher education advocates to discuss market activity and outlooks, new and innovative approaches to higher education financing, regulatory issues, pertinent legislation, and relevant higher education issues.
- EFC Education Finance Conference (EFC2): Held annually in the fall in Washington, DC, EFC2 (formerly known as the EFC Mid-Year Membership Meeting) gathers the student loan industry’s most distinguished thought leaders, innovators, and policymakers to explore the ever-changing landscape of financing higher education and charting a path to college completion and success.
- College Success Roundtable Event: Held in conjunction with EFC2, this event is open only to EFC Members. EFC Members, federal policymakers, and industry experts meet in a small and intimate roundtable setting to discuss student success initiatives and best practices, as well as opportunities for partnership.
- EFC CXO Summit: The EFC CXO Summit creates an opportunity for EFC Voting Members to meet one-on-one with EFC Affiliate Members to explore how the products and services of our Affiliate members can help Voting Members improve or expand their business operations. The Summit is a unique one-day event that streamlines the research process by providing EFC Voting Members with an efficient and cost-effective way to explore their options.
- EFC Hill Days: At least once per year, EFC Voting Members travel to Washington, DC for a Hill Day, where EFC Members hold meetings to educate Congress on the value of nonprofit and state-based student loan organizations. In addition, EFC hosts Hill Days throughout the year on an as-needed basis and in response to specific legislative opportunities.
- EFC CEO Strategic Planning Meeting: Each fall, EFC holds a CEO Strategic Planning Meeting, bringing together the Voting Member CEOs and/or their designee for a two-day planning retreat to review, discuss, and identify EFC’s strategic priorities for the year ahead. The EFC Strategic Plan is developed during this meeting. EFC’s president provides updates on this plan on a quarterly basis throughout the year.
Access to EFC Staff & Member Assistance — The EFC team is a group of talented and dedicated professionals whose collective experience and expertise ranges across the key institutions and fields pertinent to advocacy surrounding higher education access, affordability, and success. Their knowledge and expertise is available for individual member assistance and technical and programmatic assistance. EFC staff is available to present at meetings of EFC Member organizations, including Board of Directors meetings.
EFC Committees — EFC has a number of committees, comprised of EFC Members, that shape and influence EFC policies, activities, and member services. The following EFC committees are open to EFC Affiliate Members:
- Affiliate Member Committee: The Affiliate Member Committee is dedicated to EFC Affiliate Members and includes quarterly conference calls or webinars designed to keep Affiliate Members informed. These sessions keep Affiliate Members up-to-date on EFC’s Strategic Plan and EFC initiatives and provide a federal and administration update. EFC also has an Affiliate Member Committee webpage that contains information specifically geared for EFC Affiliate Members, including event information and other pertinent documents and resources.
- College Success Committee: The College Success Committee is comprised of EFC Members who offer college access and student success programs. Committee Members develop goals, discuss ideas and strategies, and share best practices related to program development and local and national advocacy efforts around student success and financial literacy initiatives.
- Development Committee: The Development Committee works to retain and grow EFC Membership in support of the organization’s mission and vision for the future. The Committee works to identify and explore opportunities to grow EFC and create additional value for EFC Member organizations.
- Alternative Education Loan Working Group: Started as a platform for EFC Members to share best practices and discuss solutions for building, launching, and managing their refinancing programs, this Working Group has expanded to include in-school as well as refinancing loan programs.
- Conference Planning Committees: These Committees, convened annually in advance of the EFC Annual Membership Meeting and EFC2, are charged with assisting EFC in developing program content, identifying session topics, and selecting and inviting speakers.
Federal Advocacy — EFC staff are uniquely qualified to advocate on legislative and regulatory issues affecting the EFC Voting Membership and to work with Congress and the Administration to advocate on behalf of the interests of EFC Voting Members, including education loans, tax and finance, college access and student success, financial literacy and college planning, and other general higher education matters. Through this advocacy work, EFC serves as the principal voice for and primary source of critical public policy information for its membership.
Exclusive Payce Partnership Opportunity — EFC provides the following exclusive partnership opportunity for its Affiliate Members:
- EFC Members can partner with Payce to offer the program to their customers and employees and to build or deepen relationships with partners and other organizations that will proactively market Payce to consumers, leveraging a comprehensive playbook, marketing kit, reporting, and resources provided by Payce.
EFC surveys its members on an annual basis to ensure that current services are meeting and/or exceeding member expectations. The survey also seeks to identify, and if necessary, adjust member services, and to inform the strategic planning process.
The EFC team works diligently to ensure that EFC is successfully delivering against its mission: The mission of EFC is to support its state-based and nonprofit members’ capacity to expand access to postsecondary education, 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 smart borrowing, and advocate for and with borrowers in support of successful management of their education loan debt.