Reply #2: The larger sharks left the market [View All]

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BofA, Citi Scale Back From Student Loans

Some 60 companies have exited or pulled back from the market, putting pressure on remaining players.

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BofA and Citi's decisions have a domino effect on companies that specialize in the roughly $85 billion education financing market. Some 75% of federal student loans are issued by lenders that primarily raise money by bundling those loans into securities that institutional investors had bought.

The Street