Established in 1994, ECMC is a nonprofit company that provides support for the administration of the Federal Family Education Loan Program as a student loan guaranty agency. ECMC is the designated guarantor in Virginia, Oregon, Connecticut and California, Tennessee, South Carolina, Rhode Island, Maine, Illinois, Missouri, Louisiana and Utah, the third-party guarantor servicer for three clients. In our guarantor role, ECMC provides financial education services to empower students to make informed choices about their futures. ECMC also oversees student loan repayments to ensure taxpayer funds are replenished so future generations of students have access to federal education funding.
For postsecondary institutions, ECMC offers Solutions - a suite of services that includes financial literacy, student loan repayment counseling and default prevention. This line of business is a natural adjacency to our role as a guaranty agency as it expands our reach to help student loan borrowers successfully meet their student loan obligations.
Based in Los Angeles, ECMC Foundation's mission is to inspire and facilitate improvements that affect educational outcomes- especially among underserved populations-through evidence-based innovation. The Foundation makes investments in two focus areas: College Success and Career Readiness. It is one of several affiliates under the ECMC Group enterprise based in Minneapolis.