Overview
First Marblehead is focused on providing private student loan programs to help fill the growing gap in education funding.
At First Marblehead, we help students and their families close the widening gap between the costs of college and the financial resources available to them. We do this by helping our clients—banks, credit unions and educational institutions—develop solutions that are affordable and meet the needs of their customers.
The demand for education finance solutions has never been greater as more Americans apply and go to college than ever before. The funding gap between the cost of education and traditional sources of funding such as Federal student loans, scholarships and grants continues to widen and is estimated to be $120.3 billion for the 09/10 year.*
First Marblehead is an end-to-end provider of private student loan programs leveraging our years of loan data and risk analytics capabilities to optimize performance at every step in the loan process. Our company is an industry leader in private education lending in the United States having processed over 6 million applications and disbursed over $16.5 billion in private student loan volume.
We have a business model that is difficult to replicate and focuses exclusively on private student loans, providing customized program design including underwriting, loan origination and portfolio management.
Founded in 1991 and headquartered in Boston, Massachusetts, First Marblehead has more than 200 employees.
*U.S. Department of Education. College Board Trends in Student Aid 2009. College Board Trends in College Pricing 2009.