News + announcements

ECMC Group appoints Dan Fisher as President and CEO

May 10, 2022

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MINNEAPOLIS—ECMC Group today announced that its Board of Directors has appointed Dan Fisher as president and chief executive officer (CEO), effective July 3, 2022. Fisher also was elected to the Board of Directors of ECMC Group, Educational Credit Management Corporation (ECMC) and ECMC Foundation, effective July 3, 2022.

“We believe that with his proven personal and professional skills and his decades of service and dedication to our organization, Dan is the ideal leader to become ECMC Group’s president and chief executive officer,” said ECMC Group Chairman Jim McKeon. “His leadership in our mission-driven activities to help underserved populations, enhance college access, support student success and drive outreach in our communities and with our stakeholders is invaluable. The Board has selected a strong and experienced person in Dan to lead ECMC Group going forward as we pursue our charitable mission of helping students succeed.”

Fisher joined ECMC Group in November 2000 and has been serving most recently as president of ECMC and general counsel and corporate secretary of ECMC Group. In his role as president of ECMC, Fisher has been responsible for managing and coordinating all Federal Family Education Loan Program (FFELP) activities for ECMC. As general counsel and corporate secretary of ECMC Group, he has been the primary legal advisor to the corporation and affiliates, including its executive management team and Board of Directors, and he also provides executive oversight to the Legal department, Compliance department and several Shared Services departments. Prior to joining ECMC Group, Fisher served on active duty in the U.S. Army as a judge advocate in Georgia and the Washington, D.C., area, where his primary focus was court-martial litigation. Fisher also serves on the national board of directors for the nonprofit Credit Abuse Resistance Education (CARE), which has more than 50 state and local chapters focusing on teaching young people the skills to improve their financial literacy.

Fisher succeeds Jeremy Wheaton, who is leaving ECMC Group, as president and CEO.

“On behalf of the Board, I would like to thank Jeremy for his exemplary leadership over the past nearly five years,” said McKeon. “We are grateful for all Jeremy accomplished during his time with us and we wish him the very best in the future.”

“I am honored that the Board of Directors has selected me to lead ECMC Group,” said Fisher. “I look forward to continuing our organization’s longstanding commitment to student success, student outcomes and financial literacy, and working with our outstanding teammates to achieve our mission of helping students succeed.”

“Dan has been a key leader at ECMC Group for many years and he is clearly the right person to lead our organization at this time,” said McKeon. “We are fortunate to have a deep and experienced team to drive our success well into the future.”

About ECMC Group

ECMC Group is a nonprofit corporation focused on helping students succeed. Headquartered in Minneapolis, ECMC Group and its family of companies are focused on creating, providing and investing in innovative educational opportunities including financial tools and services and programs to help students achieve their academic and professional goals and to address the future of work. To learn more, visit www.ecmcgroup.org.

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ECMC assumes responsibility for loans guaranteed by Illinois Student Assistance Commission (ISAC)

May 2, 2022

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

“ECMC remains committed to providing high-quality customer service that ISAC customers have come to expect,” said Dan Fisher, ECMC president.

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

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Meet our GenXYZ top 50 young professionals.

The following article is from ColoradoBiz

April 27, 2022

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ColoradoBiz is proud to announce our GenXYZ Top 50 Young Professionals.

Please join us in celebrating these remarkable young professionals on June 9th and find out who our Top 25 and Top 5 Most Influential Young Professionals are and gain insight into why they're being recognized.

Chevy Lowe, director of ECMC’s The College Place-Colorado, was named to a list of finalists for the ColoradoBiz GenXYZ Top 50, which celebrates individuals making an impact in their work and their community.

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Introducing the inaugural ECMC Annual Report

April 26, 2022

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Our 2021 ECMC Annual Report highlights our resilience and ongoing dedication to our charitable mission during an unprecedented time.

This report recognizes our hard work and dedication to students and borrowers as we continue to help them overcome challenges and achieve their education goals.

Read our 2021 Annual Report.

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ECMC debunks myths about college financial aid offers as students begin receiving letters

The following is a PR Newswire press release

March 7, 2022

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Students who filed their Free Application for Federal Student Aid (FAFSA) and other state-specific financial aid forms are beginning to receive offer letters, which outline financial aid packages from prospective colleges. Given the complexity of the information and the fact that colleges report the offerings in a variety of ways, Educational Credit Management Corporation (ECMC) is dispelling myths for students and families who may need assistance.

"Understanding financial aid offers is an extremely important step to enable students to make smart decisions about their education pathway," said Angela Greenlay, director of student success for ECMC. "We want to give students and families the tools, resources and information they need to confidently navigate the path to and through postsecondary education."

ECMC, which provides free training and resources focused on financial literacy and college preparedness, is providing insight for students and families to ensure they understand the various types of financial aid available.

Myth #1: My financial aid offer letter will show me a clear picture of college costs.
Fact: The total costs of college aren't always clear from the outset. In financial aid offer letters, not all colleges include both direct and indirect expenses in the total "Cost of Attendance" (COA). While most schools outline baseline tuition and fees, some might not include "indirect expenses" like room and board, textbooks, meals and transportation. Not knowing how much a full year of college will cost you makes it difficult to compare offer letters from different colleges.

Myth #2: It's easy to understand the difference between loans and grants.
Fact: In most offer letters, schools outline financial aid options such as grants, scholarships, work-study opportunities and student loans. If student loans are listed, they will appear to reduce the total cost of attendance. But the reality is that loans need to be repaid—with interest. If you're having trouble determining the difference between gift aid and loans that will need to be repaid, look for terms like "grant," "scholarship" and "fellowship." Anything else is most likely a loan.

Myth #3: The only scholarships I get will be included in my offer letter.
Fact: While offer letters may include some grants and scholarships, there are many other scholarships available to students. Spring is historically the time when many applications are due. From needs-based and program-specific to unique and unusual scholarships, there's free money out there if you're willing to look for it. Here's a great resource to find private scholarship programs and information about scams: www.finaid.org.

Myth #4: I need to take out the full amount of money offered in my financial aid letter.
Fact: Only accept the amount of financial aid necessary to get through college. Many people make the mistake of borrowing too much and using student loans to pay for all their expenses, and then they struggle to repay what they owe.

Myth #5: It's too late for me to apply for college financial aid.
Fact: Anyone considering postsecondary education, including individuals who are older or who have already completed some education, can apply for financial aid. For those planning to attend in the 2022-2023 school year, the FAFSA is due by June 30, 2023. Each college may also have its own deadline, so check with the institution you're interested in attending.

In addition to these tips, ECMC offers a free downloadable workbook that features a variety of worksheets and information to help students throughout the college planning process. Opportunities books are available in English and Spanish.

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