Northstar Education Finance, Inc. (‘NEF’) is a Delaware non-stock, nonprofit corporation under Section 501(c)(3) of the Internal Revenue Code. NEF was formed to administer the student loan programs started by Northstar Guarantee, Inc. Effective July 1, 2010, federal legislation eliminated the authority to provide new loans under the Federal Family Education Loan Program (FFELP) and required that all new federal loans be made through the Direct Student Loan Program (DSLP). Because of this and disruptions in the credit markets over the years, NEF is no longer in the business of originating federal or private student loans, but continues to manage its historic loan portfolio.
NEF is dedicated to helping students obtain an affordable education and it continues to support its charitable purpose, which is to foster, aid, encourage and assist the pursuit of higher education. Supporting its mission, the company provides students who have existing loans which were issued under its THE Loan Program, the lowest possible cost on their loans. In particular, NEF returns excess revenues to the student borrowers in the form of the THE Bonus Program.
NEF's primary charitable goals are to: