Making College More Affordable

Who We Are

The Education Finance Council (EFC) is an association of nonprofit and state-based student loan providers.  These public purpose organizations are dedicated to the single purpose of making college more affordable.

Many nonprofit student loan providers operate as secondary markets as well as loan originators and providers of a wide array of college outreach and planning information.  Secondary markets expand access to higher education by ensuring the availability of funding for student loans and by making it easier and less expensive to pay for college.  Nonprofit FFELP providers are leaders in innovation to reduce the cost of a college education.  To learn more about EFC member secondary market organizations, click here.

Nonprofit student loan providers, along with lenders, guaranty agencies and other service providers are participants in the Federal Family Education Loan Program (FFELP). This landmark federal program has been opening the doors of higher education for more than 40 years.  Nonprofit student loan providers serve as a catalyst for constant innovation and improvement within the student loan programs thanks to their nonprofit status and public purpose mission.  Through the power of competition, these organizations drive other participants in FFELP to provide benefits that would not otherwise be available.  In that way, EFC members are making college more affordable for all students.  Following is a list of just some of the programs offered by EFC members:

• Student loan fee and interest rate reductions;
• Loan forgiveness for public servants, military personnel, and high-demand professionals like nurses and teachers, as well as additional programs targeted to meet local needs;
• Loan relief for first-year college students to encourage college persistence; and
• College outreach and access programs to help students and families achieve their higher education goals.

What We Do

EFC’s mission is to expand access to higher education by ensuring the availability of student loan funds while striving to make paying for college easier and less expensive for all students and families.  In short, the Education Finance Council is dedicated to making college more affordable.

EFC’s talented staff provides unmatched services to its members while acting as a trusted resource for policymakers, the media, students and families seeking information about how to pay for college.  For more information about becoming a member of EFC, click here.