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.
Written by John Sandman for MainStreet