About NMEAF

Our Mission

Promote the public welfare and prosperity of the people of New Mexico by stimulating the availability of financial assistance for post-secondary education so as to give greater higher education opportunities. (New Mexico Legislature New Mexico Code – Article 21A, Educational Assistance Act). We believe the future welfare and prosperity of New Mexico depend on the level of education attainment of its citizens.

Our Funding

NMEAF does not receive state tax appropriations or other state support. We pay for our operations and programs from revenue created from our lending, servicing, and program administration activities. All revenue received above operating expenses is used to promote our public service mission.

Our History

• We were founded in 1981 by the New Mexico State Legislature to promote and support post-secondary education.
• College Connect NM is a partnership with New Mexico’s public colleges and universities and 32 state-wide non-profit organizations to provide educational outreach events and services for FAFSA information, college applications, scholarships, and special events. 
• We’ve serviced and collected federal student loans for over 35 years, providing services to more than 340,000 borrowers with $2.9 Billion student loans. 
• We provide debt collection services to the U.S. Department of Education’s Federal Family Education Loan Program (FFELP) Guarantee Agencies.
• We operate a collection services business, 180 Resolutions, that provides account receivable management and debt collection services to private businesses, schools, government entities, and other organizations.

Our Expertise

• We have a seasoned educational outreach team that works with New Mexico’s colleges and universities to promote post-secondary education. 
• Since 1981, we have successfully collected federal student loans.
• We specialize in debt collection communication services.
• We understand the unique life situation of the student borrower and have specialized methods to prevent loan delinquency and default. 
• We have an experienced collections team with an average tenure of 9+ years.
• We utilize the latest technology, tools, and communication methods, including customer call centers, skip-tracing, emails, postal mail, text messaging, collateral, and websites.
• Our facilities, team, and systems adhere to the highest security standards with safeguarding the personal information of our clients and borrowers.