EFC Voting Member Benefits
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.
These organizations are the go-to college planning resources in their states for students, families, and counselors. They provide scholarships and grants, low-cost alternative loan programs, college planning centers, financial literacy programs, FAFSA completion events, and individualized guidance on every step of planning, paying for, and succeeding in postsecondary education.
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.
There are two level of EFC 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 or 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 houses, rating agencies, debt collection organizations, loan servicers, bond counsel, accounting firms, student loan finance corporations, and software developers.
EFC Voting Membership
Voting Members form the governing structure of EFC, and are eligible to serve on the organization’s Board of Directors. All Voting Members help to shape the direction of the organization by participating in private meetings and calls and by voting on bylaws changes. Voting Members are provided with up-to-the-minute updates on political developments to ensure that they are fully informed of developments critical to their operations.
EFC Voting Member Benefits
EFC offers its members a wide range of benefits including, but not limited to: advocacy, unparalleled information resources, EFC publications, specialized meetings and events, student success initiatives, and access to the expertise of the EFC staff.
Federal Advocacy — Effective advocacy is one of the most valuable benefits of EFC Membership. In this capacity, EFC staff, who are uniquely qualified to advocate on legislative and regulatory issues affecting the EFC Voting Membership, work with Congress and the Administration to advocate on behalf of the interests of EFC Voting Members on issues 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.
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.
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.
Exclusive Partnership Opportunities — EFC provides exclusive partnership opportunities for its Voting Members. These include:
- ACT/NRCCUA — Discounted Pricing
Now part of ACT®, NRCCUA® is a membership organization that has, for more than 45 years, been a leading provider of data, research, and programs that enhance college and university recruiting efforts. ACT/NRCCUA is offering discounted pricing to EFC Voting Members.
- AFSA Education Foundation — Financial Literacy Partnership
The American Financial Services Association (AFSA) Education Foundation will create, for free, personalized web pages with their financial literacy education modules (called MoneySKILL) for EFC Voting Members.
- Ballard Spahr LLP — Legal Services Discount
Special pricing for certain Ballard Spahr services is available to EFC Voting Members.
- MeasureOne — Analytics and Reports Discount
EFC has partnered with EFC Affiliate Member MeasureOne to allow participating EFC Voting Members to contribute to and receive MeasureOne’s private student loan reports that will enable participating members to leverage data, analysis, and information to make empowered decisions.
- Payce — Partnership
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.
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 the following committees, comprised of EFC Members, that shape and influence EFC policies, activities, and member services:
- Board of Directors: The EFC Board of Directors is comprised entirely of EFC Voting Members. The Board holds regular meetings via conference call and in-person, open board meetings per year in conjunction with certain EFC conferences and events. The Board also creates, on an as-needed basis, specialized Committees of the Board to address specific issues in more detail.
- CEO Committee: The CEO Committee is comprised of EFC Voting Member CEOs and/or their designee. The Committee meets at least monthly via conference call to discuss federal and industry developments and EFC initiatives. The Committee also holds in-person meetings in conjunction with the EFC Annual Membership Meeting and EFC2.
- 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.
- Government Affairs Committee: The Government Affairs Committee is comprised of EFC Voting Members and serves to review and execute EFC’s legislative and policy priorities.
- 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.
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.