Not your average non-profit. Student Assistant Foundation

Student Assistant Foundation http://www.safmt.org/SAFHOME/ helping out students while steadily growing its business

For evidence of what kind of growth is possible when a business looks outside of Montana for new customers, look no further than the Student Assistance Foundation.

In 2000, the foundation, which up to that point had done business only with students in Montana, held or serviced $300 million worth of student loans.

“Then, the board decided to pursue business in the national market,” said CEO Jim Stipcich, who’s been with SAF for 23 years. “As we looked into the future of the student loan market, we realized we would need to do business nationally” in order to realize the efficiencies that would keep SAF competitive.

Today, SAF works with students across the country, and the growth has been remarkable. From $300 million in loans held and serviced six years ago, SAF has grown that total to $1.4 billion today, with nearly two-thirds of that balance in loans outside the state (SAF also handles 85 percent of the student loan market in Montana). Stipcich said the goal is to reach $3 billion within the next three years, and “within 10 years to be a $6 billion player in the student loan market.”

By JOHN HARRINGTON – IR Business Editor

Full Story: http://www.helenair.com/articles/2006/02/19/business/e01021906_01.txt