Looking Forward
In 2010, federal legislation ended privately financed, federally guaranteed education loans under the Federal Family Education Loan Program, in favor of Direct Loans originated directly by the federal government. Therefore, ASA has guaranteed no new education loans since July 1, 2010. The organization continues to fulfill its obligations as a student loan guarantor to the U.S. Department of Education for its remaining FFELP portfolio, which stands at approximately $35 billion and 1.3 million borrowers.
Additionally, in 2012 ASA launched “SALT™,” a financial education membership program that teaches students how to borrow less and more wisely for higher education; how to repay student loans successfully; and how to build better overall financial skills in life. ASA’s goal with SALT is to revolutionize the way students finance and repay higher education, transforming them from passive financial aid recipients to instead proactive, financially savvy consumers who truly own their student loans and finances.
ASA is often cited as an expert reference on student loans by national and local media.
Both the Boston Globe and the Boston Business Journal have named the organization as one of the best places to work in Boston since 2008. The company currently has approximately 500 employees.
Read more about this topic: American Student Assistance