Competitors eye US student loan market as Wells walks

Wells Fargo 575 375
By Jennifer Kang
28 Oct 2020

Competitors are beginning to circle Wells Fargo’s chunky share of the US student loan market. The opportunity is particularly attractive for non-bank ABS issuers such as Navient and Sallie Mae, sources say, who are looking to translate demand into new origination volumes. Jennifer Kang reports.

The largest beneficiaries of Wells’s exit, announced in the summer, are the non-bank private student loan providers, sources said. Issuers such as Navient and Sallie Mae are already reviewing any opportunities that may arise. SoFi, another large lender, has yet to comment on how it plans to ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial