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How was Helios Education Foundation started?

April 26, 2017Education foundation Helios STARTED

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How was Helios Education Foundation started?

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Helios Education Foundation was created in 2004 through the conversion, reorganization and ultimate sale of Southwest Student Services Corporation (Southwest), and its affiliates Arizona Educational Loan Marketing Corporation (AELMAC) and Florida Educational Loan Marketing Corporation (FELMAC). Southwest was a full-service provider of student loan products and services to students, families and schools in Arizona, Florida and nationally. At the time of the reorganization, Southwest was the eighth largest holder of federally insured student loans in the country. And upon its sale to SLM Corporation, the $500 million in net proceeds was used to create an endowment for Helios Education Foundation to support its work in creating opportunities for individuals to succeed in postsecondary education.