Nonprofits Help Nearly 2 Million Families With Free College Programs in 2025
Nonprofits Help Nearly 2 Million Families With Free College Programs in 2025
In an outstanding effort to support educational access, the Education Finance Council (EFC) announced its 2025 National Impact Report, showcasing the significant achievements of nonprofit and state-based higher education finance organizations. In the academic year 2024-25, these organizations provided free college access and success programming to an impressive 1.95 million families. Their initiatives not only included programming for college access but also offered additional resources, scholarships, and grants that have made higher education more attainable.
Navigating the waters of postsecondary education can often be an overwhelming task for families. The EFC has remained devoted to its mission, empowering students and their families by offering practical knowledge and resources designed to lessen the burdens of student debt and enhance informed decision-making during the college-going process.
Key Achievements of EFC Members
From managing substantial savings plans to administering grants, EFC members have made a lasting impact in several areas, including:
- - College Savings Accounts: EFC members managed college savings accounts worth $26.2 billion, optimizing financial planning for families.
- - Scholarship Funding: They funded and administered an astounding $3.4 billion in scholarships and grants, directly supporting students' educational journeys.
- - Free Programming: Through their dedicated efforts, they successfully served 1.95 million families with free college access and success programming, making significant strides towards enhancing educational equity.
- - FAFSA Assistance: The members assisted nearly a million families (976,276) in completing the Free Application for Federal Student Aid (FAFSA), ensuring more students can access federal funding.
- - Personal Counseling: EFC members offered 194,472 one-on-one counseling sessions, guiding families through the complexities of the college application process.
- - Affordability in Loans: They also facilitated 84,404 affordable education loans, amounting to $1.38 billion, which had an incredibly low average interest rate of 4.37 percent for in-school borrowers.
- - Loan Services: Furthermore, EFC members managed loans for around 9.5 million borrowers across various federal and private loan programs.
Impact on Student Success
EFC President Gail daMota emphasized the organization's commitment to student success, stating, "EFC members empower student success through the wide range of services, resources, counseling, and financing options they provide." By prioritizing outcomes over profits, these organizations help students make informed choices that can shape their futures positively.
Moreover, the collaborative efforts and dedication of EFC members have revolutionized the landscape for families seeking higher education, providing crucial resources that facilitate success at every level.
The EFC serves as a beacon of hope for millions, affirming that with the right support, educational goals can be reached, thus transforming lives and communities alike. For more information on how EFC is working to improve college access and affordability, visit their website at efc.org.
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