Education Finance Council (EFC), the national trade association representing nonprofit and state-based higher education finance organizations, announces the release of its 2025 National Impact Report. In Award Year (AY) 2024-25, 1.95 million families received free college access and success programming, and many more benefitted from scholarships and grants, tax-advantaged college savings plans, and affordable education loans with transparent, borrower-friendly terms.
Planning and paying for postsecondary education can be challenging and complex. Throughout AY 2024-25, EFC’s nonprofit, state-based members stayed true to their public-purpose mission and helped students navigate the college-going process. The members equip students with the knowledge and resources they need to reduce overborrowing and make sound decisions regarding their postsecondary education journey.
Over the past year, EFC members have:
- Managed $26.2 billion in college savings accounts;
- Funded and/or administered $3.4 billion in grants and scholarships;
- Served 1.95 million families with free college access and success programming;
- Helped 976,276 people complete the FAFSA®;
- Held 194,472 one-on-one counseling sessions;
- Made 84,404 affordable education loans, totaling $1.38 billion, with an average lowest fixed rate of 4.37 percent for in-school borrowers; and
- Serviced 9.5 million borrowers’ Federal Direct, private, and/or FFEL program loans.
“EFC members empower student success through the wide range of services, resources, counseling, and financing options they provide,” said President Gail daMota. “By focusing on outcomes over profits, the members help the individuals they serve to make informed decisions and transform their lives.”
Background: EFC is the national trade association representing nonprofit and state-based higher education finance organizations that are dedicated to empowering student success by improving college access and affordability in their states and nationwide. Learn more about EFC by visiting efc.org.
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