Northstar Education Finance Inc.
Northstar Education Finance Inc.
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About this organization
Mission
To foster, aid, encourage and assist the pursuit of higher education.
About
Manage portfolio of outstanding FFELP (approx. 90%) and private (approx. 10%) student loans with outstanding balances totaling approx. $1.9 billion as of 9/30/2019. To the best of the knowledge and belief of the organization's officers, the benefits and interest rates that it has provided to student borrowers are substantially more favorable to student borrowers than the benefits and interest rates provided by for-profit lenders. During fiscal years 2019 and 2018, respectively, the organization made T.H.E. repayment bonus payments (interest rebates which are processed as credits to eligible borrower accounts) of approximately $15.8 million and $17.9 million, respectively.
Interesting data from their 2020 990 filing
The mission of the non-profit, as stated in the filing, is “To foster, aid, encourage and assist the pursuit of higher education. in supporting this mission, nef's primary charitable goals are to (a) continue servicing its outstanding portfolio of student loans; (b) continue to provide education and assistance to student borrowers to enable them to successfully repay their loans; (c) manage its financings as necessary to maximize the t.h.e. bonus credited to eligible student borrower accounts; and (d) make grants to other organizations in furtherance of its educational mission.”.
When referring to its tasks, they were described as: “To foster, aid, encourage and assist the pursuit of higher education.”.
- The non-profit is operating legally in the state of DE.
- The non-profit's address for the year 2020 is listed as 930 BLUE GENTIAN ROAD NO 100, EAGAN, MN, 55121 in the filing.
- The form submitted by the non-profit organization for 2020 reports 0 employees.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is -$4,644,507.
- The organization has 8 independent voting members.
- The organization was formed in 2000.
- The organization pays $290,439 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.