Overview
What is Brazos Higher Education Service Corporation Inc?
Brazos Higher Education Service Corporation Inc, also known as Brazos Higher Education, is a nonprofit organization based in Waco, Texas. With a team of 35 employees, their primary mission is to provide management and administrative support for affiliated student loan entities. They serve as the master servicer and administrator for entities under various loan programs, including the Federal Family Education Loan Program (FFELP), HEAL, TERI, and alternative loan programs. Their services encompass administering student loans with over $2.7 billion in outstanding principal.
Official website here: www.studentloans.com
Is Brazos Higher Education Service Corporation Inc legitimate?
Brazos Higher Education Service Corporation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Brazos Higher Education Service Corporation Inc 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.
Here are some key statistics you may want to consider:
Executive Compensation: $3,512,143
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,248,959
For more financial information, click here
Official website here: www.studentloans.com
What is the mission statement of Brazos Higher Education Service Corporation Inc?
Brazos Higher Education Service Corporation Inc serves a crucial role in the education sector by offering administrative and management support to affiliated student loan entities. In essence, BHESC functions as a master servicer/administrator, overseeing student loans with a collective outstanding principal amount exceeding $2.7 billion, primarily under the Federal Family Education Loan Program (FFELP), HEAL, TERI, and various alternative loan programs. The organization's primary objective is to effectively manage and support these entities in providing student loans to help individuals access higher education. This, in turn, enables students to pursue their academic goals and potentially advance their careers. BHESC's role is instrumental in ensuring the smooth operation of student loan programs, thereby contributing to the overall educational landscape.
Official website here: www.studentloans.com
Who is the CEO of Brazos Higher Education Service Corporation Inc?
Ricky Turman is the President/Ceo of Brazos Higher Education Service Corporation Inc. The CEO's salary of Brazos Higher Education Service Corporation Inc is $707,065 and their total compensation is $775,096.
Official website here: www.studentloans.com
What is the revenue of Brazos Higher Education Service Corporation Inc?
Brazos Higher Education Service Corporation Inc's revenue in 2022 was $12,631,577.
Official website here: www.studentloans.com
Who are the executives of Brazos Higher Education Service Corporation Inc and what are their salaries?
The average compensation at Brazos Higher Education Service Corporation Inc during 2022 was $164,603. There are 35 employees and 6 volunteers at Brazos Higher Education Service Corporation Inc.
Here are 22 key members and their salaries (Brazos Higher Education Service Corporation Inc's CEO's salary is $707,065 and their total compensation is $775,096):
- Thomas Ben Litle (President/Ceo) [Trustee/Director]
- Ricky Turman (Evp/Coo/Cfo) [Trustee/Director]
- Kelli Uttech (Svp/General Counsel)
- Samuel Redden (Svp/Cio)
- Andrew Ellis (Vp Human Resources)
- Tammy Harralson (Vp/Controller)
- Justin Green (Financial Services Director)
- Randall Larson (Vp Sales)
- John M Wright (Business Analytics Director)
- Darrell Brooks (Treasurer)
- Sarah Maccarthy (Vp Compliance)
- Milicent Larson (Executive Dir, Brazos Fdn)
- Debra Urias (Vp Customer Relations)
- Susan Davis (Corporate Secretary End: 06/21)
- Tiffany Jones (Secretary)
- Vicky Smith (Assistant Secretary)
- Robert B Chambers (Director)
- John Hatchel (Director)
- Dr Terry Maness (Director)
- John Perry (Director)
- Dr Joseph Velez (Director)
- Greta Watson (Director)
Official website here: www.studentloans.com
Where can I find the form 990 for Brazos Higher Education Service Corporation Inc?
The Brazos Higher Education Service Corporation Inc’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.studentloans.com
Learn more at the official website: www.studentloans.com
Mission Statement of Brazos Higher Education Service Corporation Inc
Brazos Higher Education Service Corporation Inc, a key player in the educational financing sector, is dedicated to providing essential administrative and managerial support for affiliated student loan entities. With a mission to serve as a master servicer and administrator, this non-profit organization manages and oversees student loans with outstanding principals exceeding $2.7 billion under various programs, including the Federal Family Education Loan Program (FFELP), HEAL, TERI, and multiple alternative loan initiatives.
By assuming this role, Brazos Higher Education Service Corporation Inc ensures the smooth operation of these affiliated entities, allowing them to focus on their primary goals of providing valuable educational opportunities to students. Through its expert management and administrative services, the organization plays a crucial role in the student loan process, enabling more individuals to access higher education and ultimately improve their lives.
The scope of Brazos Higher Education Service Corporation Inc's services encompasses administering loans under the FFELP, a federal student loan program, which is one of the largest and most widely used programs to help students and families pay for college. Alongside FFELP, the organization manages loans through HEAL (Health Education Assistance Loans), TERI (Teacher Education Assistance for College and Higher Education), and a range of alternative loan programs. The depth and breadth of these services enable Brazos Higher Education Service Corporation Inc to make a significant impact on the educational landscape, helping students and their families navigate the complex world of student financing.
Impact
This information is meant to be a general summary of Brazos Higher Education Service Corporation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Brazos Higher Education Service Corporation Inc provides crucial administrative and management support for affiliated student loan entities, overseeing a significant portfolio of student loans totaling over $2.7 billion. By serving as a master servicer/administrator, Brazos Higher Education Service Corporation plays a vital role in managing these loans under various federal and alternative loan programs. Through its operations, Brazos Higher Education Service Corporation helps facilitate access to higher education by ensuring the effective management of student loan programs, ultimately contributing to the educational pursuits of countless individuals.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Operating Income
Revenue
$7,958,143
Beneficial Interest (M&O)
Revenue
$1,105,000
Commission Income
Revenue
$327,914
Organization Details
Founding Year
1980
Phone
(254) 753-0915
Principal Officer
Ricky Turman
Main Address
5609 Crosslake Pkwy, Waco, TX, 76712
Website
www.studentloans.com
NTEE Category
Code: B82Z - Education
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