About Us
QUICK FACTS
Based in Helena, the Montana Higher Education Student Assistance Corporation (MHESAC) has been helping students and their families to obtain financing for postsecondary education since 1983.
This 501(c)(3) company was organized under Section 150(d) of the U.S. Tax Code, which requires MHESAC to operate exclusively for the purpose of acquiring student loans.
MHESAC issues tax-exempt and taxable bonds, acquires and originates Montana student loans, acquires non-Montana loans and provides borrower benefit programs for Montana students from its financings.
In 2000, MHESAC began acquiring loans in the national FFELP student loan market. The surplus from this business line is used to enhance MHESAC’s programs and generate additional borrower benefits for Montana students.
MHESAC has no employees. Its day-to-day business is managed by Student Assistance Foundation (SAF) also located in Helena, Montana. SAF also originates, acquires and warehouses non-Montana student loans for eventual sale to MHESAC.
MHESAC receives no funding from the state of Montana.
BY THE NUMBERS
110,000 — the number of Montana students MHESAC has helped to pursue their dreams of postsecondary education.
$125,000,000 — the number of dollars in capital MHESAC provides to Montana lending partners per year for low-cost Federal Stafford and PLUS education loans.
$183,000,000 — the number of dollars in student loan consolidation MHESAC provided in Montana in FY2006.
$1,300,000,000 — the number of dollars in Federal Family Education Loans held by MHESAC.
$28,000,000 — the number of dollars in borrower benefits that have been delivered to Montana students by MHESAC since 1996.
$50,000,000 — the number of dollars in borrower benefits projected to be made available to Montana students by MHESAC over the next 10 years.