New Mexico Educational Assistance Foundation

What New Mexico Educational Assistance Foundation does

New Mexico Educational Assistance Foundation (NMEAF) is a private 501(c)(3) non-profit organization established by the New Mexico State Legislature in 1981 and headquartered in Albuquerque. The organization operates as the oldest New Mexico-based non-profit issuer of private student loans, providing fixed-rate undergraduate and graduate loans, loan refinancing, and federal student loan servicing for the U.S. Department of Education's Federal Family Education Loan Program (FFELP) Guarantee Agencies. Across its history, NMEAF has served more than 340,000 borrowers with approximately $2.9 billion in student loans outstanding, supported by approximately 100 employees with average tenure of 10+ years.

NMEAF's core product is the New Mexico Student Loans (NMSL) program, a fixed-rate private student loan offering with no origination fees or prepayment penalties. The product suite includes refinancing (5.11%–5.86% APR across 5–20 year terms), the Tools of the Trade line of credit at 5% interest for trade school students (in partnership with US Eagle Federal Credit Union), and workforce retention programs offering 0% interest for qualifying teachers, nurses, and medical doctors working in New Mexico. The technology backbone consists of a loan servicing platform, an online account access portal (mynmsl.org), bond issuance and reporting systems managed by Zions First National Bank as trustee, and skip-tracing tools used by its collections subsidiaries.

Revenue is generated through interest on originated private student loans, loan servicing fees for federal loan programs, bond issuance, and debt collection services operated through two wholly-owned subsidiaries: 180 Resolutions and Collection Resources Inc. (acquired in 2019). Distribution is conducted through direct-to-consumer online channels, in-house phone and in-person servicing, and the College Connect NM partnership network spanning New Mexico's public colleges and universities plus 32 statewide non-profit organizations. The organization also runs extensive community outreach including FAFSA workshops, Money Mondays events, and counselor training programs throughout the state.

Name

New Mexico Educational Assistance Foundation

Legal name

New Mexico Educational Assistance Foundation

Website

https://nmeaf.org

Company type

Private

Founded year

1981

Operating status

Operating

Headcount range

11–50 employees

Short description

New Mexico Educational Assistance Foundation (NMEAF) is a 1981-founded, state-legislature-chartered 501(c)(3) non-profit that issues fixed-rate private student loans, refinancing, and FFELP federal loan servicing to New Mexico students, families, and professionals, with workforce incentive programs for teachers, nurses, and physicians.

Ownership category

akta.pro rank

Product category

Student Lending and Education Financing

NAICS

Educational Support Services (611710), Educational Services (611), All Other Schools and Instruction (61169)

SIC

Services-Educational Services (8200), Personal Credit Institutions (6141), Finance Services (6199), Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Federal Student Loans (Direct/FFEL/Perkins) (FSAKAEAA)

akta.pro secondary industries

Financial Aid Administration & Packaging (EDALAJAA), Financial & Consumer Literacy (Banking, Credit, Contracts) (EDAAAAAG), Education Grantmaking Foundations (BPAGAKAK)

Keywords

• Private student loans
• Student loan refinancing
• Student loan servicing
• Debt collection services
• Education financing

Headquarters

HQ city

Albuquerque

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Student Loan Interest: Revenue generated from interest on private student loans issued to New Mexico students and residents attending out-of-state institutions
2. Loan Servicing Fees: Fees for servicing and collecting federal student loans for the Federal Family Education Loan Program (FFELP) Guarantee Agencies
3. Debt Collection Services: Revenue from 180 Resolutions and Collection Resources Inc. subsidiaries providing account receivable management and debt collection services to businesses, schools, and government entities
4. Bond Issuance: Issuing education loan bonds to fund student loan origination and acquisition; trustee is Zions First National Bank

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

New Mexico Educational Assistance Foundation (NMEAF) is a non-profit 501(c)(3) organization that issues fixed-rate private student loans and refinancing to New Mexico students and residents, services federal student loans for the FFELP program, and provides debt collection services through its subsidiaries 180 Resolutions and Collection Resources Inc. It also offers workforce incentive programs (Teachers for Tomorrow, Nurses for New Mexico, MDs for New Mexico) and a Tools of the Trade line of credit for trade school students.

Product overview

New Mexico Educational Assistance Foundation (NMEAF) operates primarily as a student loan lender and servicer through its New Mexico Student Loans (NMSL) program, offering fixed-rate private student loans and refinancing options for New Mexico students and residents. The organization also runs specialized workforce incentive programs (Teachers for Tomorrow, Nurses for New Mexico, MDs for New Mexico) that reduce or eliminate loan interest for qualifying professionals who work in New Mexico. Additionally, NMEAF acquired two debt collection businesses (180 Resolutions and Collection Resources Inc.) and recently launched a new Tools of the Trade program providing credit lines for trade school students at 5% interest. The portfolio includes educational outreach through FAFSA assistance, borrower benefit programs that have saved students over $60 million, and partnerships with US Eagle Federal Credit Union.

Differentiator

Problem solved

Functional benefit

Brands

• 180 Resolutions: Debt collection services business providing account receivable management and debt collection services to private businesses, schools, government entities, and other organizations.
• Collection Resources Inc. (CRI)
• Tools of the Trade

Products and services

• New Mexico Student Loans (NMSL)
• Student Loan Refinancing
• Tools of the Trade Line of Credit
• New Mexico Professionals Programs (Teachers for Tomorrow, Nurses for New Mexico, MDs for New Mexico)
• Borrower Benefits Programs
• 180 Resolutions Debt Collection Services
• Collection Resources Inc. (CRI) Healthcare Debt Collection
• Federal Student Loan Servicing (FFELP)

Quantifiable outcome

• $60+ million in total cost savings to New Mexico student loan borrowers through borrower benefit programs
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Collection Resources Inc. (CRI)coreOthers · 1 January 2019NMEAF acquired Collection Resources Inc. in 2019. CRI is based in New Mexico and specializes in healthcare and medical debt collections.
• US Eagle Federal Credit UnioncoreStrategic or Co-development PartnerPartnership with US Eagle Federal Credit Union for the Tools of the Trade program supporting New Mexicans pursuing careers in skilled trades. US Eagle providesLines of credit at 5% interest rate for trade school costs including tools, equipment, and transportation.
• New Mexico Public Colleges and UniversitiescoreStrategic or Co-development PartnerCollege Connect NM is a partnership with New Mexico's public colleges and universities providing educational outreach events and services for FAFSA information, college applications, scholarships, and special events.
• 32 Statewide Non-Profit OrganizationscoreStrategic or Co-development PartnerPartnership with 32 statewide non-profit organizations through College Connect NM to provide educational outreach events and services for FAFSA information, college applications, and scholarships.
• Zions First National BankcoreTechnology or IntegrationZions First National Bank serves as the trustee for NMEAF's 1998 Indenture education loan bonds, managing bond issuance and reporting functions.
• Moody's RatingsminorOthersCredit rating agency that rates NMEAF's education loan bonds. Moody's downgraded ratings in November 2025 from Aaa to Aa1 primarily driven by the U.S. government rating change.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• PHEAA (Pennsylvania Higher Education Assistance Agency): State-affiliated student aid organization that, like NMEAF, services federal student loans, provides state-based lending, and runs financial literacy/FAFSA programs. Closest structural analog: state-chartered nonprofit with both lending and servicing arms.
• Texas Guaranteed Student Loan Corporation (Trellis Company): Texas-based nonprofit that originated from the FFELP guarantee agency model, providing student loan servicing, financial literacy, and higher-education research—parallel to NMEAF's mission and revenue mix.
• Missouri Higher Education Loan Authority (MOHELA): State-chartered nonprofit student loan servicer and holder of FFELP legacy assets; directly comparable to NMEAF in operating model, federal servicing contracts, and bond-funded structure.
• College Ave Student Loans: Online-focused private student loan and refinance provider competing in the same SMB/individual consumer segment as NMEAF; comparable product features (fixed rates, cosigner release, multiple repayment terms).
• Earnest (part of Navient/Sallie Mae): Digital-first private student loan and refi lender; directly comparable to NMEAF's refinancing product on customized terms, soft credit pull, and online underwriting—serving the same borrower profile.

Broad incumbents

• Nelnet: One of the largest U.S. student loan servicers with significant FFELP servicing exposure, asset-backed education lending, and K-12/college payment technology. Comparable revenue lines to NMEAF but at vastly greater scale.
• Sallie Mae: Largest U.S. private student loan originator and servicer; competes directly with NMEAF on private student loan pricing, refinancing, and brand, but with national scale, bank charter funding, and broader product suite.
• SoFi: National fintech lender offering private student loans, refinancing, and personal loans; competes with NMEAF's refinancing product on rate and digital UX while operating at much larger scale and broader product scope.
• Discover Student Loans: National private student loan and refinancing provider backed by Discover Financial; competes with NMEAF on undergraduate, graduate, and refinancing products with stronger brand recognition and rewards programs.

Regional players

• VSAC (Vermont Student Assistance Corporation): State-based nonprofit providing student loans, grants, and financial literacy in Vermont; near-perfect structural match to NMEAF (state-chartered nonprofit, dual lending/advising mission) but operating in a different geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/mynmsl
• YouTubeyoutube.com/channel/UC820293YVa7M6FvslLwlmLQ
• Facebookfacebook.com/nmfafsa
• Instagraminstagram.com/nmfafsa

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Mexico Educational Assistance Foundation