OK, I have my data mining hat on tonight and thought I would take a shot at answering the question of who the largest FFEL guarantors are. The Department of Education provides quarterly data on loan volume guaranteed by the 35 FFELP loan guarantors. The guarantor's role is to make good on the government guarantee to the lender should a borrower default. They then put on their debt collector's hat to recover as much of the defaulted loan as possible.
Here is the top 10 list of guarantors based on Stafford, PLUS and Grad PLUS guarantees provided over the first 3 quarters of the 2008 Fiscal year (October 2007 to June 2008) with their corresponding market share totals and year over year growth rate for the corresponding period (Guarantees are expressed in millions of dollars):
|Guarantor||First 3Q FY08||Mkt. Share||Growth|
|Texas Guaranteed (TGSLC)||2,904.8||9.4%||46.0%|
|Great Lakes HEC||2,806.2||9.1%||9.7%|
|New York HESC||1,420.6||4.6%||12.4%|
|American Student Asst. (ASA)||1,272.3||4.1%||9.9%|
|TOTAL FOR TOP 10||$25,717.5||83.2%||12.9%|