ECMC Assumes Responsibility for Loans Guaranteed by Ascendium Education Solutions, Inc.
August 10, 2026
MINNEAPOLIS—Effective August 1, Educational Credit Management Corporation (ECMC) became the designated guaranty agency for the Ascendium Education Solutions, Inc. (Ascendium) Federal Family Education Loan Program (FFELP) portfolio. Since the appointment of ECMC as the designated agency was made, ECMC has been working closely with Ascendium to ensure a smooth transition of services for students with outstanding loans made under FFELP.
“ECMC is pleased to support former Ascendium borrowers with finding a path forward. We provide hands-on support, clear information about their options, and guidance every step of the way to help them resolve their student loans,” said Chad Tate, ECMC president.
ECMC is the designated guarantor in Virginia, Oregon, Connecticut, California, Tennessee, South Carolina, Rhode Island, Maine, Illinois, Missouri, Louisiana, Utah, North Carolina, New Mexico, and Florida, and the third-party guarantor servicer for three clients.
About ECMC
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.
Media Contact
Laura Telander
ltelander@ecmc.org
651-325-3695
