Helping families plan & pay for college

Education Finance Council (EFC) is the national trade association representing nonprofit and state-agency student loan organizations. As state-based, nonprofit entities, EFC Members are driven by public-purpose missions to expand borrowers’ financial knowledge, prevent over-borrowing, and promote positive repayment behavior.

All EFC Members, as nonprofit, public-purpose organizations, strive to increase college access, success, and affordability in their states and nationwide, operating as loan servicers and supplemental loan originators while providing a wide array of college access and student success services and resources.

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EFC Featured Member

  

Connecticut Higher Education Supplemental Loan Authority (CHESLA) was created by the state of Connecticut in 1982 to help students and families finance the cost of higher education by reducing the financial burden of borrowing.

CHESLA’s mission is to expand higher educational opportunities and enhance the State’s economic development through higher education by providing cost-effective education financing programs and information resources to Connecticut students, alumni and their families.

 

 

nonprofit & State-based Refinancing Programs

Eleven EFC Members offer education refinancing loans.

These nonprofit and state-based education refinancing programs make education debt more manageable for families by providing a refinancing tool that consolidates high-interest rate education loans into a single loan, reducing monthly payments and, in many cases, overall debt burden.

Find a nonprofit. state-based refinancing program here.