ECMC assumes responsibility for loans guaranteed by Finance Authority of Maine (FAME)
MINNEAPOLIS, Minn. Dec. 2, 2019—Effective December 1, Educational Credit Management Corporation (ECMC) became the designated guaranty agency for the Finance Authority of Maine (FAME) Federal Family Education Loan Program (FFELP) portfolio. Since the appointment of ECMC as the designated agency was made, ECMC has been working closely with FAME 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 FAME customers have come to expect," said Jan Hines, ECMC president and chief executive officer.
ECMC is the designated guarantor in Virginia, Oregon, Connecticut, California, Tennessee, South Carolina and Rhode Island, and the third-party guarantor servicer for five 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.