Corporate Information

Based in Helena, the Montana Higher Education Student Assistance Corporation (MHESAC) began helping students and their families to obtain financing for post-secondary education in 1983. Today, the organization serves its borrowers by safeguarding the integrity of its financial structure to ensure ongoing funding for Reach Higher Montana and other public benefits.

The 501(c)(3) not-for-profit issued both tax-exempt and taxable bonds prior to 2010 and in 2012 restructured its entire bond portfolio into taxable bonds. Prior to 2010, MHESAC used the capital raised to acquire and originate Montana and non-Montana loans through the FFELP student loan market.

The surplus from this business line was used to enhance MHESAC’s programs and generate additional borrower benefits for Montana students. As of the end of Fiscal Year 2014-15, MHESAC had delivered $52.7 million in such benefits to Montana borrowers through debt forgiveness, interest rate reductions and fee reductions. Its student loan portfolio totals $613.1 million.

MHESAC has no employees. Its day-to-day business is managed by Student Assistance Foundation (SAF), also located in Helena, Montana.

MHESAC receives no funding from the state of Montana.

Board of Directors

Mike Green Board Chair
Helena, MT
Shannon Stober Board Vice Chair
Bozeman, MT
Terry Cosgrove Helena, MT
Kim Cunningham Anchorage, AK
George Olsen Helena, MT
Brianne Rogers Bozeman, MT
Wendy Wigert Bozeman, MT
Joyce Dombrouski Missoula, MT
Clayton Christian Ex-Officio
Helena, MT

Corporate Officers

Mike Green President
Helena, MT
Crystine Miller Vice President
Helena, MT
George Olsen Secretary/Treasurer
Helena, MT
Scott Todorovich MHESAC CEO
Helena, MT
Jolene Selby MHESAC CFO
Helena, MT
Kelly Cresswell Reach Higher Montana
Executive Director
Helena, MT

Recent Public Meetings

Date/Time Name Location Notice Agenda Summary  
June 25, 2024
9:00 am
MHESAC Board Annual Meeting Great Northern Hotel  
April 23, 2024
9:00 am
MHESAC Board Meeting Online  
January 25, 2024
2:00 pm
MHESAC Board Meeting Online  
November 1, 2023
9:00 am
MHESAC Board Meeting Online  
October 16, 2023
3:00 pm
MHESAC Audit Committee Online  
August 2, 2023
1:30 pm
MHESAC Audit Committee Online  

 All Public Meetings

Recent Financial Information

Year Form-990 Audited Financial Statement
2023  
2022
2021

 All Financial Information