Wells Fargo has $22.4 billion in student loans on its books not chump change but only 1.5% of its total assets. It pays shareholders a 2.64% dividend of $1.20 per share.
Other private lenders include the First Marblehead Corporation, PNC Bank, RBS Citizens, and SunTrust Banks. When it comes to student loans, Uncle Sam is by far the biggest bag holder.
- Congress Wants More Bang for Student Debit Card Bucks
- The Cost of Bad Advice Can Be Thousands of Dollars for College Students
- More Than One-Quarter of Americans Have Considered Defaulting on Student Loans -- Or Already Have
- Department of Education to Revise Student Loan Servicer Evaluations
- Sallie Mae Earnings Miss; Navient Continues On Track
Written by John Sandman for MainStreet