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The New Mexico Educational Assistance Foundation (NMEAF) is a private non-profit 501(c)(3) organization established by the New Mexico State Legislature in 1981.
We believe post-secondary education, be it a technical certification or academic degree, is the single most important investment a person can make. We actively promote higher education throughout all of New Mexico’s diverse school districts and provide resources for financial planning to fund higher education. We facilitate community outreach programs and events to help New Mexico’s low-income, first-generation, and other disadvantaged groups. Learn more about how we help NM and our New Mexico educational assistance foundation programs.Disable Mouseover Effect:
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We provide private student loans, loan refinancing, and service a variety of student loan programs. We sponsor several borrower benefits programs that decrease interest rates which have saved our borrowers millions.
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We produce various programs and events assisting New Mexico's students and families save, plan, prepare, and pay for post-secondary education through our collaborative efforts with other statewide non-profits with College Connect NM.
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NMEAF operates these primary programs:
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Our Mission
Promote the public welfare and prosperity of the people of New Mexico by stimulating the availability of financial assistance for post-secondary education so as to give greater higher education opportunity. (New Mexico Legislature New Mexico Code – Article 21A, Educational Assistance Act). We believe the future welfare and prosperity of New Mexico depends on the level of education attainment of its citizens.Text Area:
Our History
- We were founded in 1981 by the New Mexico State Legislature to promote and support post-secondary education.
- College Connect NM is a partnership with New Mexico’s public colleges and universities and 32 state-wide non-profit organizations to provide educational outreach events and services for FAFSA information, college applications, scholarships, and special events.
- We’ve serviced and collected federal student loans for over 35 years providing services to more than 340,000 borrowers with $2.9 Billion student loans.
- We provide debt collection service to the U.S. Department of Education’s Federal Family Education Loan Program (FFELP) Guarantee Agencies.
- We operate a collection services business, 180 Resolutions, that provides account receivable management and debt collection services to private businesses, schools, government entities, and other organizations.
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Our Expertise
- We have a seasoned educational outreach team that works with New Mexico’s colleges and universities to promote post-secondary education.
- For more than 35 years we have successfully collected on federal student loans.
- We specialize in debt collection communication services.
- We understand the unique life situation of the student borrower and have specialized methods to prevent loan delinquency and default.
- We have an experienced collections team with average tenure of 9+ years.
- We utilize the latest technology, tools, and communication methods including: customer call center, skip-tracing, emails, postal mail, text-messaging, collateral and websites.
- Our facilities, team, and systems adhere to the highest security standards with safeguarding personal information of our clients and borrowers.
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Our Funding
NMEAF does not receive state tax appropriations or other state support. We pay for our operations and programs from revenue created from our lending, servicing, and program administration activities. All revenue received above operating expenses is used to promote our public service mission.Text Area:
Annual Reports
Download these reports in PDF format- 2020 Annual Report
- 2019 Annual Report
- 2018 Annual Report
- 2017 Annual Report
- 2016 Annual Report
- 2015 Annual Report
- 2014 Annual Report