President and CEO, LoanSTAR Funding Group
A leader in the field of education finance, Refel Rushing is responsible for changing tax-exempt bond codes to allow funding of federally backed student loans. Beginning his career with Kidder, Peabody & Co. in New York, he gained experience as an Institutional Fixed-Income Specialist with municipal bonds, which inspired him to develop bond funding for higher education. Joining with other financial advisors and bond experts in 1975, Refel Rushing began a two-year program that led to Texas’ first educational bond in 1977. Over the next 28 years, Refel Rushing developed a successful business as Chief Executive Officer for LoanSTAR Funding Group Inc. Holding government-backed student loans in excess of $1 billion, LoanSTAR helped provide educational support to millions of students across the country. Sold to Nelnet Inc. in 2005, LoanSTAR retained Mr. Rushing as President and Director of the National Education Loan Network Inc. until 2008, when he resigned to pursue personal interests in cattle ranching and music. Throughout his career, Refel Rushing has contributed to a variety of causes in and beyond education. In 2001, he helped create the Greater Texas Foundation, which has awarded over $1 million in scholarships. He also funded the College for All Texans foundation, which promotes awareness of financial aid; he was also Executive Director of a Texas nonprofit group that supported the equipment and building needs of private colleges and universities. In addition, Mr. Rushing has helped to finance hospitals, medical centers, and low-income housing developments; he has also provided incarcerated individuals with supplemental food and supplies. Refel Rushing is currently working on his latest project, a collection of adult contemporary Christian Music. He plans to donate proceeds to religious institutions, using any additional revenue to fund shelters and food pantries for the homeless and for abused women and children.