STUDENTS VS BANKS

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STUDENT LENDER BAILOUT HISTORY

The big student loan lobbyists want to take badly needed money out of the pockets of state schools and keep it for the banks.

But how much taxpayer bailout money have the largest student loan lenders already received? As it turns out, billions:

Lender Student Loans Originated 2008 Student Loans HeldĀ  2008 Loans Purchased 2007-
2010
Loan Participation 2008-
2009
Asset-Backed Commercial Paper 2010 Total TARP money received* Total
Bailout $$ Committed
Sallie Mae $14.27 $141.50 $20.50 $34.65 $14.25 $0.00 $69.40
Citi $6.20 $31.32 $3.11 $7.14 $10.63 $1.98 $22.86
Wachovia $5.13 $12.33 $5.76 $1.89 $0.00 $0.07 $7.73
BofA $4.27 $6.78 $1.53 $0.00 $0.00 $55.60 $57.13
WellsFargo $3.94 $14.25 $5.41 $0.03 $0.78 $30.74 $36.95
JP Morgan $3.42 $11.94 $2.46 $0.00 $0.00 $30.07 $32.53
U.S. Bank $2.28 $4.09 $1.64 $0.00 $0.00 $6.60 $8.24
EdAmerica $1.61 $4.79 $1.92 $2.77 $1.16 $0.00 $5.85
PNC $1.27 $2.25 $0.00 $0.00 $0.00 $8.32 $8.32
Suntrust Bank $1.09 $3.77 $0.28 $0.00 $0.00 $4.85 $5.13
Access group $1.06 $6.36 $0.47 $1.79 $0.78 $0.00 $3.04
Nelnet $1.02 $25.91 $2.27 $3.16 $1.12 $0.00 $6.54