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09/25/2008

KeyBank To Cease Making Private Student Loans

KeyBank will cease accepting private loan applications on October 31, 2008, according to a source within the company.  In addition, Key has recently laid off members of their sales staff in their education loan division.  In an earlier post, SLA had estimated that KeyBank originated approximately $450-$500 million in private loans in 2007.  KeyBank had not completed a securitization of their private loans since 2006.

Update:  Here is a link to the KeyBank press release which was published a day later. 

Posted at 06:42 PM in Lenders, Market Buzz |

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