EdFund offers students and their families a wide range of information on the value of higher education, how to pursue it, how to pay for it, and debt management.
In addition, EdFund supports schools with advanced loan processing solutions[buzzword] and default prevention techniques.
EdFund was organized as a 501(c)(3) public benefit corporation pursuant to legislation authorizing the Commission to establish a nonprofit auxiliary to administer all activities associated with its participation in the federal student loan program.
A 2007 San Francisco Chronicle article describes how in certain circumstances, EdFund’s practices can take an original loan of $37,000 and drive the repayment cost well over $100,000.
[2][3] The auditor found that EdFund spent thousands of dollars on entertainment, travel, and executive bonuses, at a time when the loan program faced an $8.3 million operating deficit.