Northern Texas Resources
This week they will be taking a look at some of the regional resources offered in northern Texas. Described below is information on the NTHEA, or the North Texas Higher Education Authority.
Purpose North Texas Higher Education Authority (NTHEA) is a Texas non-profit organization whose mission is to assure consistent and long-term borrower access to federally guaranteed loans through the Federal Family Education Loan Program. NTHEA has been providing capital and liquidity to Texas lenders for twenty years. They do not lend money, but rather they form partnerships with Texas lenders and schools whose goals are consistent with our mission. Schools assist in qualifying students for loans, Lenders make the loans, and NTHEA purchases the loans from the lenders pursuant to its secondary market program.
History For fourteen years after President Lyndon Johnson signed into law the Higher Education Act of 1965, Texas students had very little access to the guaranteed student loans provided by the law. Liquidity was scarce for the loans, and lenders they're reluctant to make them without it. This void was the impetus for the formation of NTHEA. By providing a secondary market for the loans, they have assured lenders of a constant supply of funds for making new loans.
Our program is funded primarily through the issuance of tax exempt bonds, with the first issue being sold in June 1979. Since inception in 1978, our assets have steadily grown from $10 million to over $580 million today.
Through our secondary market program, they have purchased thousands of loans and assisted thousands of students in achieving their goals of obtaining a higher education.
Administration The Board of Directors of NTHEA is made up of nine members appointed by our sponsoring cities, Arlington and Denton. Each member of the board has a special interest in assisting students in meeting their college financing needs.
For administration of our programs, they contract with Higher Education Servicing Corporation (HESC), a sister not-for-profit organization. HESC was founded in 1978 for the purpose of providing headquarters and administrative support to NTHEA.
Commitment to the Future NTHEA is committed to continuing its service to Texas lenders, schools and students they'll into the new millenium. Providing educational opportunities to help meet the challenges of the future has never been a more critical part of our purpose.
To learn more about the Authority, please contact them at one of the addresses or phone numbers below.
Board of Directors (Director's Name; Affiliation; Sponsoring City) Mr. Governor E. Jackson, President - 4-Yr University - Denton
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