News + announcements

MINNEAPOLIS—Effective March 1, Educational Credit Management Corporation (ECMC) became the designated guaranty agency for the Utah Higher Education Assistance Authority (UHEAA) Federal Family Education Loan Program (FFELP) portfolio. Since the appointment of ECMC as the designated agency was made, ECMC has been working closely with UHEAA to ensure a smooth transition of services for students with outstanding loans made under FFELP.

“ECMC is pleased to support former UHEAA borrowers with high-quality customer service leveraging our flexible technology platform,” said Chad Tate, ECMC president.

ECMC is the designated guarantor in Virginia, Oregon, Connecticut, California, Tennessee, South Carolina, Rhode Island, Maine, Missouri and Louisiana and the third-party guarantor servicer for three clients.

About ECMC
Educational Credit Management Corporation (ECMC) is a nonprofit corporation with a mission to help students succeed. Headquartered in Minneapolis, ECMC works to lower student loan default rates; sponsors college access and success initiatives, and financial education programs; and provides resources to support student loan borrowers to successfully repay their loans. Visit www.ecmc.org for more information.

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Minnesota currently is in the bottom third of states the lowest rates of completion for the Free Application for Federal Student Aid (FAFSA), with only 28.5% of eligible students having completed their forms. Given that the FAFSA is the gateway to all federal aid including grants, scholarships and student loans, ECMC’s The College Place Minnesota has teamed up with the Minnesota Office of Higher Education, the Minnesota Department of Education and the Minnesota Association of Financial Aid Administrators to help boost completion and get students on track to postsecondary education with a virtual event series starting in February.

The events take place Tuesday evenings in February, with each virtual workshop walking students and families through a different step in completing financial aid forms and understanding offer letters, scholarships and paying for college. Interpreters will be available in Spanish, Hmong and Somali. Students who attend the sessions will have an opportunity to win one of two $500 scholarships.

The virtual events are free to students of all ages and their families. Anyone interested can register online: https://ecmc.zoom.us/webinar/register/WN_EZ1AhdrMScWM6S5_4-KgAg.

Schedule:

• Feb. 14, 7 p.m. — Apply for Financial Aid: FAFSA
• Feb. 16, 7 p.m. — Apply for Financial Aid: Dream Act (student ineligible for FAFSA)
• Feb. 21, 7 p.m. — Understand Your Offer Letter
• Feb. 28, 7 p.m. — Search for Scholarships

Registration: https://ecmc.zoom.us/webinar/register/WN_EZ1AhdrMScWM6S5_4-KgAg

ECMC’s The College Place provides free assistance and resources to students as they navigate the path to and through college. The Minnesota Office of Higher Education provides students with financial aid programs and information to help them gain access to postsecondary education.

The Minnesota Association of Financial Aid Administrators is an association of professionals committed to the principle that no one should be denied access to higher education for financial reasons.

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MINNEAPOLIS—Effective January 1, Educational Credit Management Corporation (ECMC) became the designated guaranty agency for the Louisiana Office of Student Financial Assistance (LOSFA) Federal Family Education Loan Program (FFELP) portfolio. Since the appointment of ECMC as the designated agency was made, ECMC has been working closely with LOSFA to ensure a smooth transition of services for students with outstanding loans made under FFELP.

“ECMC remains committed to providing exceptional customer service to help borrowers navigate and find the best solutions,” said Chad Tate, ECMC president.

ECMC is the designated guarantor in Virginia, Oregon, Connecticut, California, Tennessee, South Carolina, Rhode Island, Maine, Illinois and Missouri and the third-party guarantor servicer for three clients.

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MINNEAPOLIS—Effective October 1, Educational Credit Management Corporation (ECMC) became the designated guaranty agency for the Missouri Department of Higher Education & Workforce Development (MDHEWD) Federal Family Education Loan Program (FFELP) portfolio. Since the appointment of ECMC as the designated agency was made, ECMC has been working closely with MDHEWD to ensure a smooth transition of services for students with outstanding loans made under FFELP.

“ECMC remains committed to providing exceptional customer service to help borrowers navigate and find the best solutions,” said Chad Tate, ECMC president. 

ECMC is the designated guarantor in Virginia, Oregon, Connecticut, California, Tennessee, South Carolina, Rhode Island, Maine and Illinois and the third-party guarantor servicer for five clients.

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To support local high schools with their financial aid efforts, the Ready, Set, FAFSA series will again be offered to students and families this fall. Running now to Oct. 25, five virtual sessions will cover the college application process, general financial aid information, details on the Free Application for Federal Student Aid (FAFSA), the Minnesota Dream Act for undocumented students, and other ways to pay for college. All sessions will have simultaneous interpretation in Spanish, Somali and Hmong.

Financial aid experts from local colleges will be available during the events to answer questions in the chat. Students who attend will be eligible to win a $500 scholarship. Registration is open now for families.

The series, called “Ready, Set, FAFSA” is a collaboration between the Minnesota Department of Education (MDE), the Minnesota Office of Higher Education, ECMC The College Place, and Minnesota Goes to College.

Important Information Regarding Postsecondary Enrollment Options (PSEO)

MDE has hard many concerns and a number of requests for clarification from students, families and community partners regarding PSEO. It is important that every school fully understand the requirements in Minnesota Statutes, Section 124D.09 in order to provide equitable access to this opportunity. Some of the issues that MDE frequently clarifies are:

• Dissemination of PSEO program information to students and families;

• Access to building space and technology for PSEO students;

• Availability of transportation reimbursement for eligible PSEO students; or

• Student eligibility outlined in statute vs. college admissions criteria.

In an effort to provide consistent and helpful guidance, MDE is offering Dual Credit Topic Sessions Thursdays at 2 p.m. These short, informal sessions are designed to support high school counselors and administrators around common PSEO and Concurrent Enrollment topics.

Register for one or more Dual Credit Topic sessions. For more information about the PSEO program, visit MDE’s Postsecondary Enrollment Options page at https://education.mn.gov. For questions, contact Beth Barsness at beth.barsness@state.mn.us.

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