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Largest Education Lenders (FY2002)
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The following table shows the top 50 originators and holders of
Federal Family Education Loan Program loans as of September 30,
2001. (This is the most recent data available.) The figures for origination exclude consolidation loans. The
figures for holders include consolidation loans.
Based on these statistics, the largest purchaser of student loans
is Sallie Mae, followed by Citibank, Brazos Group, Key Corp, EFS
Finance and Mellon Bank. Similarly, the largest seller of student
loans is JP Morgan Chase, followed by Bank One, National City Bank,
American Express, TIAA-CREF, and SC Student Loan Corp.
These lenders originate 83.5% of all FFELP loans.
| Rank | Lender | Origination Volume |
| 1. | JP Morgan Chase Bank | $2,295,000,000 |
| 2. | Bank One Education Finance Group | $2,203,300,000 |
| 3. | Citibank Student Loan Corp | $2,167,000,000 |
| 4. | Bank of America | $1,639,600,000 |
| 5. | Wells Fargo Education Financial Services | $1,583,500,000 |
| 6. | Sallie Mae | $1,383,500,000 |
| 7. | First Union National Bank (CLASSNOTES) | $1,248,700,000 |
| 8. | National City Bank | $896,600,000 |
| 9. | American Express Education Assurance Co | $882,500,000 |
| 10. | Firstar Bank | $798,600,000 |
| 11. | Academic Management Services | $605,500,000 |
| 12. | Pittsburgh National Corp | $538,600,000 |
| 13. | Fleet Bank | $493,000,000 |
| 14. | Pennsylvania Higher Education Assistance Agency | $488,400,000 |
| 15. | Suntrust Bank | $479,200,000 |
| 16. | Union Bank & Trust Company | $447,900,000 |
| 17. | Northstar Guarantee | $376,700,000 |
| 18. | Key Corp | $369,600,000 |
| 19. | College Foundation Inc. | $327,900,000 |
| 20. | Educational Funding of the South | $304,400,000 |
| 21. | Teachers Insurance & Annuity Association of America | $281,800,000 |
| 22. | SC Student Loan Corp | $267,600,000 |
| 23. | Nova Southeastern University | $260,400,000 |
| 24. | Commerce Bank | $212,500,000 |
| 25. | Citizens Bank Education Finance | $180,900,000 |
| 26. | Illinois Student Assistance Commission/IDAAP | $175,800,000 |
| 27. | HSBC Bank USA | $174,900,000 |
| 28. | Amsouth Bancorp Education Finance Group | $165,300,000 |
| 29. | Brazos Group | $163,900,000 |
| 30. | Rhode Island Student Loan Authority | $161,900,000 |
| 31. | Marquette Bank | $154,400,000 |
| 32. | New Hampshire Higher Education Loan Corp | $153,000,000 |
| 33. | Vermont Education Loan Finance Program | $135,800,000 |
| 34. | Regions Bank | $134,900,000 |
| 35. | Twin City Federal Savings Bank (TCF) | $126,100,000 |
| 36. | Washington Mutual Savings Bank | $125,200,000 |
| 37. | Mellon Bank | $116,900,000 |
| 38. | Connecticut Student Loan Foundation | $105,900,000 |
| 39. | Bancorpsouth Bank | $102,400,000 |
| 40. | EFS Finance Co | $97,200,000 |
| 41. | Kentucky Higher Education Student Loan Corp | $96,400,000 |
| 42. | Manufacturers & Traders Bank | $90,200,000 |
| 43. | First Midwest Bank | $83,200,000 |
| 44. | University of Pennsylvania | $80,800,000 |
| 45. | Maine Educational Loan Marketing | $80,700,000 |
| 46. | Fifth Third Bank | $80,600,000 |
| 47. | Zions First National Bank | $79,700,000 |
| 48. | Union Planters National Bank | $77,500,000 |
| 49. | Stillwater National Bank & Trust Co | $77,100,000 |
| 50. | ALL Student Loan Corp | $74,900,000 |
These lenders hold 92.3% of all FFELP loans.
| Rank | Lender | Holder Volume |
| 1. | Sallie Mae | $65,291,000,000 |
| 2. | Citibank Student Loan Corporation | $16,030,200,000 |
| 3. | First Union National Bank (Classnotes) | $7,102,000,000 |
| 4. | Wells Fargo Education Financial Services | $5,913,000,000 |
| 5. | National Education Loan Network | $4,185,700,000 |
| 6. | Brazos Group | $3,909,700,000 |
| 7. | Key Corp | $2,743,100,000 |
| 8. | Bank of America | $2,549,700,000 |
| 9. | Pennsylvania Higher Education Assistance Agency | $2,545,100,000 |
| 10. | EFS Finance Co | $2,487,400,000 |
| 11. | California Higher Education Loan Authority | $1,978,800,000 |
| 12. | Missouri Higher Education Loan Authority | $1,890,200,000 |
| 13. | Suntrust Bank | $1,834,600,000 |
| 14. | Pittsburgh National Corp | $1,637,300,000 |
| 15. | Mellon Bank | $1,583,200,000 |
| 16. | Educational Funding of the South | $1,570,500,000 |
| 17. | Illinois Designated Account Purchase Program | $1,497,500,000 |
| 18. | South Carolina Student Loan Corp | $1,495,900,000 |
| 19. | College Foundation Inc. | $1,201,400,000 |
| 20. | Bank One Education Finance Group | $1,183,300,000 |
| 21. | Firstar Bank | $1,174,700,000 |
| 22. | Academic Management Services | $1,063,700,000 |
| 23. | Arizona Educational Loan Marketing | $1,033,800,000 |
| 24. | Fleet Bank | $1,024,700,000 |
| 25. | Utah State Board of Regents | $965,400,000 |
| 26. | Vermont Education Loan Finance Program | $871,900,000 |
| 27. | Education Loans Inc. | $866,900,000 |
| 28. | Access Group | $839,900,000 |
| 29. | Michigan Higher Education Student Loan Authority | $767,400,000 |
| 30. | JP Morgan Chase Bank | $748,600,000 |
| 31. | Northstar Guarantee | $711,000,000 |
| 32. | New Hampshire Higher Education Loan Corp | $685,200,000 |
| 33. | Iowa Student Loan Liquidity Corp | $675,600,000 |
| 34. | Kentucky Higher Education Student Loan Corp | $670,600,000 |
| 35. | Greater Texas Student Loan Corp | $650,600,000 |
| 36. | Colorado Student Obligation Bond Authority | $624,300,000 |
| 37. | Panhandle Plains Higher Education Authority | $617,300,000 |
| 38. | National City Bank | $600,700,000 |
| 39. | Rhode Island Student Loan Authority | $586,500,000 |
| 40. | Union Bank & Trust Company | $575,800,000 |
| 41. | North Texas Higher Education Authority | $570,300,000 |
| 42. | Regions Bank | $514,900,000 |
| 43. | Mississippi Higher Education Assistance Corp | $503,300,000 |
| 44. | ALL Student Loan Corp | $495,100,000 |
| 45. | New Mexico Education Assistance Foundation | $474,600,000 |
| 46. | Bank of North Dakota | $472,300,000 |
| 47. | Maine Educational Loan Marketing | $443,400,000 |
| 48. | HSBC Bank USA | $410,700,000 |
| 49. | Oklahoma Student Loan Authority | $407,100,000 |
| 50. | Montana High Education Student Assistance Corp | $394,300,000 |
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