ECMC Assumes Responsibility for Loans Guaranteed by Illinois Student Assistance Commission (ISAC)
May 02, 2022
MINNEAPOLIS—Effective May 1, Educational Credit Management Corporation (ECMC) became the designated guaranty agency for the Illinois Student Assistance Commission (ISAC) Federal Family Education Loan Program (FFELP) portfolio. Since the appointment of ECMC as the designated agency was made, ECMC has been working closely with ISAC to ensure a smooth transition of services for students with outstanding loans made under FFELP.
“ECMC remains committed to providing high-quality customer service that ISAC customers have come to expect,” said Dan Fisher, ECMC president.
ECMC is the designated guarantor in Virginia, Oregon, Connecticut, California, Tennessee, South Carolina, Rhode Island and Maine, and the third-party guarantor servicer for six clients.
Educational Credit Management Corporation (ECMC) is a nonprofit corporation with a mission to help students succeed. Headquartered in Minneapolis, ECMC works to lower student loan default rates; sponsors college access and success initiatives, and financial education programs; and provides resources to support student loan borrowers to successfully repay their loans. Visit www.ecmc.org for more information.