Our vision is to be the premier provider of information, products, and services to help students and families realize their education and career dreams.
TG values a diverse workforce, reflective of the students and families we serve. We recognize and celebrate individual differences, backgrounds and experiences as key elements to better serve our customers, provide our employees the opportunity to realize their full potential, and to fully achieve the Corporation’s vision and mission.
Created by the Texas Legislature in 1979, TG is a public, nonprofit corporation that promotes educational access and success so that students can realize their college and career dreams. TG offers resources to help students and families plan and prepare for college, learn the basics of money management, and repay their federal student loans. In addition, TG administers Federal Family Education Loan Program (FFELP) loans made before July 1, 2010, on behalf of the U.S. Department of Education.
The FFELP is a government-sponsored program that, through June 30, 2010, provided low interest loans to help students and their parents pay for education beyond high school. Under the program, loans (Federal Stafford, PLUS, and Consolidation loans) were made through a public/private relationship involving borrowers, schools, lenders, TG, and the federal government; private lenders (such as local banks or credit unions) provided the money for the loans. TG reviewed loan applications and guaranteed the loans, the federal government subsidized and reinsured the loans, and the borrowers repay the loans. As a student loan guarantor, TG has guaranteed more than $74.2 billion in loans to more than 4.5 million student borrowers and their parents.
Although FFELP originations ceased effective June 30, 2010, TG continues to provide life-of-the-loan support for TG-guaranteed loans of almost $20 billion.
Effective July 1, 2010, all Federal Stafford, PLUS, and Consolidation loans must be made under the Federal Direct Loan Program, a program under which students and parents borrow directly from, and repay their loans to, the U.S. Department of Education.
The Corporation is governed by a nine-member Board of Directors. The Governor of Texas appoints the members (four representatives from the education community, four from the financial community, and one student), and the chairperson of the board.
The Board's role is to:
TG's president and staff oversee the Corporation's daily operations.
Although created by the Texas Legislature and subject to legislative oversight, TG is not a state agency and receives no state funds. Most of TG's income is derived from fees on the student loans the Corporation has guaranteed and recovery fees on loans it collects.