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Use of ECASLA Financing Programs Up 28% To $29.6 Billion

Posted on | April 9, 2010 | No Comments

Highlights:

  • ECASLA financing programs, including the loan participation and loan purchase programs, rose 28% to $29.6 billion from $23.2 billion over the same period last year.  Note that there may be some minor double-counting as participation units owned by the Department at end of February could have been sold to them by late March.
  • Sallie Mae is the largest participant in the programs, with their $14.4 billion in loan participation units sold to the Department accounting for almost 49% of the total ECASLA financings.  These figures are almost flat with their levels from last year of $14.55 billion.
  • As for the drivers of the 28% increase in ECASLA financings, these lenders played a principal role:
    • Student Loan Corporation saw a $2.0+ billion increase in loan participation units sold to the Department compared to year-ago figures.
    • Wells Fargo sold $2.0 billion in FFELP loans to the Department as of 3/23/10 and had no activity reported at this time last year.
    • College Foundation Inc. sold $785 million in loan participation units in 2010 and didn’t have any activity last year at this time.
    • South Carolina Student Loan Corporation had a $440 million increase in loan participation units sold to the Department compared to a year ago.

  • Here is the data pulled from the LOan Purchase Program Activity Reports (amounts in millions of dollars):

 Loan Particip.

Loan Particip.

Units Owned Loans Sold
 Units Owned Loans Sold

By Dept. To Dept.
By Dept. To Dept.
Lender 2/28/10 3/23/10
2/28/09 3/18/09
SLM Educ. Credit Finance Corp. $14,430.8 $14,550.3
The Student Loan Corporation $3,936.7 $322.9 $1,887.9
Nelnet $942.5 $67.4 $1,379.9
Access Group $883.1 $757.7
EdAmerica $845.9 $334.4 $1,322.1 $259.6
College Foundation, Inc. (SEAA) $785.4
South Carolina SLC $630.1 $190.1
KYHESLC $481.9 $426.1
Utah Higher Ed. Assist. Authority $302.1
Vt. Student Assistance Corp. $300.0
ALL Student Loan Corp. $182.3 $98.5 $223.3
RI Student Loan Authority $177.0 $93.0
College Invest $172.3 $106.9
MOHELA $148.4 $91.8
Iowa Student Loan Liquidity Corp $128.0 $111.7
NM Educational Assist. Foundation $124.7
USC Credit Union $105.6
National Ed Financing II $96.9 $6.7
BONY MELLON ELT LELA $96.2
Education Services Foundation $72.8 $1.3
GA Student Finance Commission $47.0 $53.3 $12.1
NH Higher Education Loan Corp $45.7 $101.1
Midwestern University $40.7
Wells Fargo ELT NTHEA/HESC $31.5 $25.1
Student Lending Works $31.3 $10.2
Graduate Leverage $24.3 $23.3
Oklahoma Student Loan Authority $19.1 $12.3
MS Higher Ed. Asst. Corp (MHEAC) $7.3 $0.9 $39.6
Community Federal Credit Union $0.2
First National Bank of Texas $85.4 $12.7
Herring Bank $6.0 $2.1
JPMorgan Chase Bank $0.2 $10.1
KeyBank National Association $346.2 $12.3
Maine Education Services $3.3
Texas Tech Federal Credit Union $22.7 $19.7
Three Rivers Federal Credit Union $5.5
Wachovia Education Finance $1,158.0 $981.5 $368.7
Wakefield Co-operative Bank $1.8
Wells Fargo Bank, N.A. $2,021.9
Northstar Education Finance $186.5
Panhandle-Plains SFC $30.5
Student Funding Group, LLC $0.1
TOTALS $25,089.8 $4,551.4 $22,532.4 $701.0

View full post on Student Lending Analytics Blog

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Category: Student Loans
Tags: loan participation > loan purchase program > sallie mae > south carolina student loan corporation

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