Pheaa Student Loan Foundation Inc

The foundation, a non-stock, non-member, nonprofit corporation incorporated under Pennsylvania's nonprofit corporation law of 1988, as amended, is organized to carry out Student Loan securitization transactions for the benefit of, and to carry out the purposes of, the Pennsylvania higher education assistance agency (Pheaa), a state agency of the commonwealth of Pennsylvania (commonwealth), created and controlled by the commonwealth's legislature. The foundation's exempt purpose is to facilitate the securitization of Student loans in order to raise funds for Pheaa so that Pheaa may continue to make, service and buy Student loans and to otherwise improve higher educational opportunities for students, and for any of Pheaa's other statutory purposes, thereby lessening Pheaa's burdens of government.