If you are a MHESAC student loan borrower, please contact your student loan servicer (Aspire or Navient) or the US Department of Education for guidance.
The Montana Higher Education Student Assistance Corporation (MHESAC) is a nonprofit organization with a mission to serve its borrowers and safeguard the integrity of its financial structure to ensure ongoing funding for Reach Higher Montana and other public benefits. For three decades, MHESAC provided more than $2.5 billion in capital for Federal Family Education Loan (FFEL) Program student loans made to Montanans through its FFEL student loan secondary market activity and Montana FFEL student loan origination activities. Although Congress halted the origination of new FFEL loans in 2010, MHESAC continues to purchase federally guaranteed rehabilitated education loans.
Additionally, MHESAC has been able to lower the cost of financing postsecondary education through its numerous borrower benefits including its Incentive Rewards programs. MHESAC proudly continues to provide borrower benefits to its customers in the form of interest rate and principal balance reductions.
Reach Higher Montana is MHESAC's public benefit initiative. Reach Higher Montana's mission is to help students strategically pursue educational opportunities. This mission is achieved through five core areas of work; community grants, dual enrollment support, student services, network support and outreach to students in Montana's smaller communities.
“In the new landscape of education access programs, it is MHESAC's goal to stride into the future on a foundation of financial stability that allows us to honor our commitments to our borrowers and provide them with the superior level of customer service to which they have become accustomed.”
Mike Green, MHESAC President