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Educational Credit Management Corporation

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1 Imation Place Building 2 Oakdale MN 55128 USA


Ecmc sponsors programs to help students plan and pay for college, promote financial literacy and provide resources to support student loan borrowers to repay their federally-insured student loans.


Default aversion, claims and collection program: in ecmc's role as a federal student loan guarantor, we are responsible to perform default preventions activities, reimburse lenders for default and other types of claims, and recover defaulted student loans. Default prevention program: ecmc has a robust default prevention program focused on educating and counseling delinquent borrowers on repayment strategies to find the one that best fits their situation so they can successfully repay their loan. Ecmc's commitment to prevent defaults is strong; our positive results reflect our dedication to this program. Collection program: for those borrowers who face the unfortunate situation of student loan default, it is not only our fiduciary responsibility to the u. S. Treasury and the taxpayer to collect those loans, ecmc is also committed to help the borrower recover from default. Fortunately, congress has given us tools to do so, such as the loan rehabilitation program where we are given significant latitude to establish an income contingent repayment arrangement with the borrower. With successful completion of this program, the default status is removed from the borrower's record. Since inception, ecmc has returned $9. 5 billion in student loan recoveries to the u. S. Treasury.

loan guarantee program: educational credit management corporation (ecmc) is the designated guaranty agency for virginia, oregon, connecticut and california under the federal family education loan (ffel) program. A guaranty agency under the ffel program provides federal student loan guarantees and ongoing processing services to commercial lenders and postsecondary education students and their parents for ffel program loans. Additional services provided by ecmc in fulfilling its role as a guaranty agency include but are not limited to: assisting borrowers and parents in preparing for college; financial literacy and money management education; education regarding the obligations associated with student loans; and education on how to avoid student loan default. As of december 31, 2014, the non-default guarantee portfolio consisted of $25. 5 billion in original outstanding principal balance.

ecmc solutions program. The ecmc solutions program focuses on providing default prevention and financial literacy to student loan borrowers while they are still in school, in their grace period, or in repayment to help them understand their repayment options before becoming delinquent or defaulting on their federally-insured student loans. The program includes resources for post-secondary institutions to assist them in managing their cohort default rate. Services are offered to post-secondary institutions under a fee structure.

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