History
EdFund is a nonprofit corporation founded by the California Student Aid Commission on January 1, 1997.
EdFund was organized as a 501(c)(3) public benefit corporation pursuant to legislation authorizing the Commission to establish a nonprofit auxiliary to administer all activities associated with its participation in the federal student loan program.
Today, EdFund provides all operational and administrative services related to the Commission’s participation in the federal student loan program, and is a growing national provider of student financial aid services.
"On August 27, 2010, the U.S. Department of Education selected Educational Credit Management Corporation (ECMC) to assume the guarantor responsibilities of CSAC effective November 1, 2010; consequently, all federal student loans guaranteed by CSAC and serviced through EdFund have been transferred to ECMC for ongoing servicing.
EdFund staff will continue to service the non-defaulted segment of the former CSAC portfolio per an agreement with ECMC. Also as part of this agreement, EdFund will provide ECMC with transition services, systems and web services."www.edfund.org
Read more about this topic: Ed Fund
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