Here are some snippets from recent conference calls/earnings releases/supplementals regarding 3Q private student loan originations. This quarter tends to be the most important from a seasonal perspective and provides a good sense of how academic year originations will unfold. Reviewing past history indicates that 35-40% of a lender's originations come in this quarter. Here are reports from the leading private student lenders:
- Wells Fargo noted in their 3Q earnings supplemental released today (see page 8) that "private student lending (up 29% from 3Q09)" and also that they have had great success at growing loans in the Wachovia footprint (see slide #16), "Private student lending originations up 50% YTD in Wachovia footprint." Wells Fargo doesn't publish annual private loan data but SLA now estimates that they are rapidly approaching Sallie Mae in terms of new private loan originations.