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The following table shows the top 50 originators, holders and consolidators of Federal Family Education Loan Program loans. (The list of originators is accurate as of February 16, 2005, and represents 2004 data. The list of holders and consolidators is accurate as of March 3, 2005 and represents 2004 data. This is the most recent data available.) The figures for origination exclude consolidation loans. The figures for holders include consolidation loans.

Lenders that hold the most loans accomplish this either by buying the loans directly from originators, by originating the loans themselves and not reselling them, or by consolidating a lot of loans held by other lenders.

Based on these statistics, the largest purchaser of student loans is Sallie Mae, followed by College Loan Corporation, 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.

These lenders hold 93.9% of all FFELP loans. Many of the largest holders of student loans are secondary markets.

Rank	Lender	Holder Volume
1.	Sallie Mae	$85,095,399,452
2.	Citibank Student Loan Corporation	$21,547,879,168
3.	National Education Loan Network (NELNET)	$12,308,182,384
4.	Wachovia Education Finance	$10,071,248,713
5.	Wells Fargo Education Financial Services	$8,567,243,223
6.	Brazos Group	$7,532,597,186
7.	College Loan Corporation	$6,314,429,571
8.	Pennsylvania Higher Education Assistance Agency (PHEAA)	$5,447,528,332
9.	AELMAC/Southwest Student Services Corp	$4,712,666,483
10.	Goal Financial	$4,041,540,448
11.	Collegiate Funding Services	$4,036,641,645
12.	Education Lending Group	$4,024,207,850
13.	Missouri Higher Education Loan Authority (MOHELA)	$3,543,536,794
14.	Access Group	$2,992,651,379
15.	Bank of America	$2,926,199,207
16.	EdAmerica	$2,922,431,586
17.	Illinois Designated Account Purchase Program (IDAAP)	$2,322,223,983
18.	Northstar Guarantee	$2,294,785,004
19.	California Higher Education Loan Authority (CHELA)	$2,273,865,898
20.	Key Corp	$2,210,391,409
21.	Suntrust Bank	$2,013,286,168
22.	South Carolina Student Loan Corp	$2,004,423,986
23.	College Foundation Inc.	$1,823,534,691
24.	US Bank	$1,707,634,388
25.	Student Loan Finance Association	$1,654,646,396
26.	Education Loans Inc. (Aberdeen, SD)	$1,533,079,555
27.	Bank One Education Finance Group	$1,463,689,050
28.	Citizens Bank	$1,335,259,256
29.	Utah State Board of Regents	$1,318,066,397
30.	Pittsburgh National Corp (PNC)	$1,299,256,640
31.	Iowa Student Loan Liquidity Corp (ISLLC)	$1,279,675,378
32.	Vermont Education Loan Finance Program (VSAC)	$1,241,935,282
33.	Michigan Higher Education Student Loan Authority	$1,213,728,136
34.	Kentucky Higher Education Student Loan Corp	$1,070,486,265
35.	Panhandle Plains Higher Education Authority	$1,054,780,759
36.	New Hampshire Higher Education Loan Corp	$926,409,520
37.	North Texas Higher Education Authority (NTHEA)	$889,771,781
38.	LoanStar Funding Group Inc.	$863,034,574
39.	CollegeInvest	$858,990,221
40.	JP Morgan Chase Bank	$857,328,866
41.	Mississippi Higher Education Assistance Corp	$830,709,710
42.	Regions Bank	$753,286,832
43.	GMAC	$740,462,746
44.	ALL Student Loan Corp	$723,391,397
45.	Education Loan Trust	$707,737,163
46.	Oklahoma Student Loan Authority	$692,388,490
47.	Montana Higher Education Student Assistance Corp	$659,867,322
48.	Fleet Bank	$638,520,321
49.	Rhode Island Student Loan Authority (RISLA)	$612,825,054
50.	Union Bank & Trust Company	$575,120,504

These lenders consolidate 98.4% of all FFELP loans.