Membership with the Education Finance Council
The Education Finance Council (EFC) is a non-profit trade association established in 1993 to promote the common goals of not-for-profit and state-based student loan secondary markets, including scholarship funding corporations. By representing public purpose organizations that are dedicated to the single purpose of maintaining and expanding access to higher education, EFC is able to focus its commitment on students who dream of attaining a college degree, on parents who want their children to have every opportunity to succeed, and on the educational institutions dedicated to shaping the leaders of tomorrow. EFC is an organization committed to making college more affordable.
There are two levels of membership to EFC – Voting and Affiliate. EFC voting membership is open to organizations that are not-for-profit entities, which include public agencies and private non-profit organizations, a primary purpose of which is the purchase or funding of education loans. Affiliate membership with EFC is open to any organization involved or interested in the Federal Family Education Loan Program (FFELP) and in EFC’s mission of making college more affordable. This includes any organization that supports EFC’s primary goal – to expand access to educational opportunity and to ensure the availability of funding for education loans for all students and families.
Why Become an EFC Member?
EFC promotes the common goals of its membership by working with policymakers who influence the legislative, tax, financial market, and regulatory issues that can make student loan finance easier, more accessible, and more affordable.
Effective advocacy on Capitol Hill is one of the most valuable benefits of EFC membership. Today, more than any other time, the stability of the Federal Family Education Loan Program – the largest, most efficient source of student assistance available to American families – must be protected and strengthened.
EFC staff are uniquely qualified to work directly with Congress, the U.S. Department of Education, the White House, the Treasury Department, the higher education community and other related organizations.
Other major benefits of membership include but are not limited to: extensive information services; access to research; surveys; reports; committee involvement; membership conferences; quality daily and weekly publications; and technical and programmatical assistance.
Voting Members
Voting members form the governing structure of EFC and elect its Board of Directors. EFC voting members help to shape the direction of the organization, vote on critical bylaw changes, and receive all comprehensive membership materials distributed daily and weekly. Voting members are provided with exclusive Capitol Hill and Administration updates, committee membership, and private exclusive meetings and open forum discussions.
Affiliate Members
EFC affiliate membership is open to any organization or company involved or interested in student loan finance sharing EFC’s mission of making college more affordable. Such organizations include banks, guaranty agencies, brokerage houses, rating agencies, debt collectors, loan servicers, bond counsel, accounting firms, student loan finance corporations, software developers, and schools. There are two tiers of affiliate membership. Affiliate Level One members receive all comprehensive material distributed daily and weekly, while Affiliate Level Two members receive membership materials distributed on a weekly basis.
Committees
The Education Finance Council has established several committees to address the unique needs and priorities of the EFC membership. These committees are comprised of the EFC membership and staff dedicated to achieving the mission of the individual committees, as well as the larger EFC mission of making college more affordable. EFC committees are formed based on the needs of the EFC membership at a given point in time, making the EFC committee structures uniquely responsive to the larger organization’s needs.
