Helping families plan & pay for college

Education Finance Council (EFC) is the national trade association representing nonprofit and state-based higher education finance organizations. All EFC Members, as public-purpose organizations, strive to increase college access, success, and affordability in their states and nationwide, operating as supplemental loan originators and loan servicers while providing a wide array of college access and student success services and resources. In 2016, EFC Members directly worked with over 2.5 million families to help them successfully plan, save, and pay for college.

EFC Members, who are intimately involved with their communities, have the knowledge necessary to serve the unique needs of their communities and states, and work to ensure that all families — especially middle-income borrowers and first-generation or low-income students with no family experience in the intricacies of education financing — are provided the tools and guidance they need to choose the best-fit school, borrow appropriately, complete their degree, maximize their earning potential, and successfully repay their loans.

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GSFC is one of the most successful state student aid operations in the nation. Founded in 1965 as the State Scholarship Commission, the agency’s primary function was to provide and service educational loans.

Over the years, GSFC has grown to be the administrator of more than 20 state- and lottery-funded scholarships, grants and service-cancelable loan programs that ensure Georgians have an opportunity to access education beyond high school. In addition, GSFC provides free financial aid consultation to K-12, postsecondary institutions and community organizations across the state to help students and their families prepare to pay for college.

Tax-Exempt Student Loan Bonds: A Critical Resource


Nonprofit and state-based student loan providers utilize tax-exempt bond financing (in the form of Qualified Student Loan Bonds) to fund low-cost education and refinancing loans and use any excess loan program revenues to fund extensive free college access, student success, and financial literacy programs.

Preserving this tax exemption would ensure that middle-income families and students — who already bear a great deal of the nation’s $1.4 trillion student debt burden — continue to have access to low-cost higher education financing options.

Tax-exempt QSLBs allow these state-based and nonprofit organizations to offer loans with low interest rates, low or no origination fees, and lower monthly payments and lower total debt than many other education loan options, including the Federal PLUS loan.

In order to retain the ability of nonprofit and state-based organizations to provide low-cost, consumer-friendly loans to middle-income families, and their ability to offer extensive free outreach programs, it is critical to preserve tax-exempt Qualified Student Loan Bonds.

EFC members have been making the case in their states for the preservation of this critical financing tool. Read more here.

EFC in the News more

9/14/2017The Bond Buyer

7/26/2017CQ Roll Call

7/18/2017The Washington Post

Calendar more

3/6/2018
2018 EFC CXO Summit

3/8/2018 » 3/9/2018
2018 Annual Membership Meeting

9/6/2018 » 9/7/2018
2018 EFC Mid-Year Membership Meeting

3/12/2019
2019 EFC CXO Summit

3/14/2019 » 3/15/2019
2019 Annual Membership Meeting