Overview
What is Higher Education Servicing Corporation?
Higher Education Servicing Corporation (HESC) is a nonprofit organization situated in Arlington, Texas. With a workforce of 55 individuals, its primary focus is on the servicing and administration of student loans. HESC develops and utilizes advanced computer systems to manage student loans on behalf of various loan holders, such as the North Texas Higher Education Authority. The organization's mission is multifaceted, fostering quality servicing for student loans and encouraging student enrollment at post-secondary institutions in North Texas. In addition to loan servicing, HESC is responsible for reporting, collecting, and accounting for these loans. Moreover, HESC administers educational outreach programs and services in the North Texas region, supporting the higher education sector as a whole.
Official website here: www.hescloans.com
Is Higher Education Servicing Corporation legitimate?
Higher Education Servicing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Higher Education Servicing Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $733,779
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,723,382
For more financial information, click here
Official website here: www.hescloans.com
What is the mission statement of Higher Education Servicing Corporation?
Higher Education Servicing Corporation, often referred to as HESC, is committed to fostering quality services for student loans. One of its key objectives is to encourage and promote student enrollment at post-secondary level institutions. In addition to providing student loans, HESC offers life-of-loop servicing and program administration of student loans under agreements with note holders, including higher education authorities. The corporation is responsible for reporting, collecting, and accounting for these loans. Beyond financial services, HESC also administers educational outreach programs and services in North Texas.
Official website here: www.hescloans.com
Who is the CEO of Higher Education Servicing Corporation?
Phillip Wambsganss is the Executive Dir. of Higher Education Servicing Corporation.
Official website here: www.hescloans.com
What is the revenue of Higher Education Servicing Corporation?
Higher Education Servicing Corporation's revenue in 2022 was $11,853,938.
Official website here: www.hescloans.com
Who are the executives of Higher Education Servicing Corporation and what are their salaries?
The average compensation at Higher Education Servicing Corporation during 2022 was $62,857. There are 55 employees and 5 volunteers at Higher Education Servicing Corporation.
Here are 13 key members and their salaries:
- Compensation: $257,716
- Related: $0
- Other: $26,238
- Compensation: $217,269
- Related: $0
- Other: $22,686
- Compensation: $144,948
- Related: $0
- Other: $18,001
- Compensation: $134,289
- Related: $0
- Other: $11,183
- Compensation: $127,704
- Related: $0
- Other: $16,628
- Compensation: $123,820
- Related: $0
- Other: $15,795
- Compensation: $109,147
- Related: $0
- Other: $10,722
- Compensation: $110,747
- Related: $0
- Other: $8,853
- Compensation: $1,200
- Related: $0
- Other: $0
- Compensation: $1,200
- Related: $0
- Other: $0
- Compensation: $1,200
- Related: $0
- Other: $0
- Compensation: $1,200
- Related: $0
- Other: $0
- Compensation: $1,200
- Related: $0
- Other: $0
Official website here: www.hescloans.com
Where can I find the form 990 for Higher Education Servicing Corporation?
Higher Education Servicing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hescloans.com
Learn more at the official website: www.hescloans.com
Mission Statement of Higher Education Servicing Corporation
Higher Education Servicing Corporation, or HESC, has a mission that focuses on enhancing the quality of services for student loans and promoting student enrollment at post-secondary level institutions. In essence, HESC plays a crucial role in providing student loans and managing the lifecycle of these loans. They collaborate with various note holders, including higher education authorities, to ensure the effective servicing of these loans. Additionally, HESC is responsible for reporting, collecting, and accounting for the loans they administer.
Beyond its core function of managing student loans, HESC also extends its reach into educational outreach programs and services. Based in North Texas, HESC actively works to encourage student enrollment at post-secondary level institutions. Through these programs, they aim to provide valuable resources and support to students, helping them navigate the complexities of higher education. Whether it's through direct assistance or educational initiatives, HESC is dedicated to fostering a positive and supportive environment for students pursuing their post-secondary education.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Higher Education Servicing Corporation significantly impacts student loan servicing and administration, ensuring that borrowers receive quality support throughout their loan experience. By fostering effective servicing practices, HESC enhances the overall management of student loans, which is crucial for maintaining borrowers' financial health.
The organization actively encourages and promotes student enrollment in post-secondary institutions, contributing to increased higher education attainment in the community. Through its comprehensive loan servicing, HESC oversees critical functions such as reporting, collection, and accounting for student loans, thereby streamlining the financial processes for both borrowers and loan holders.
Additionally, HESC's commitment extends to educational outreach programs in North Texas, which aim to inform and empower students about their educational options and financial aid resources. This holistic approach not only aids in the efficient servicing of loans but also supports the broader goal of increasing access to education for individuals seeking to advance their careers and knowledge.
This information is meant to be a general summary of Higher Education Servicing Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $189,839
- Program Service Revenue: $11,528,874
- Gross Receipts: $11,971,197
Assets and Liabilities:
- Total Assets: $44,544,807
- Total Liabilities: $617,736
- Net Assets: $43,927,071
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LENDER LOAN SERVICING FEE
Revenue
$3,990,572
LOAN SVCNG PASS THRU FEES
Revenue
$1,075,449
PROGRAM ADMIN FEES
Revenue
$5,365,697
STUDENT LOAN INCOME
Revenue
$1,097,156
Organization Details
Founding Year
1978
Phone
(817) 265-9158Principal Officer
Phillip Wambsganss
Main Address
4381 W GREEN OAKS BLVD 200, ARLINGTON, TX, 76016
Website
www.hescloans.comNTEE Category
Code: B82 - Education
If you are a representative of Higher Education Servicing Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.