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Monday, February 26, 2007

Most assets: all student loan jumps into originations

BEING big doesn't always mean having the highest profile. All Student Loan is a prime example.

The non-profit, officially named Access to Loans for Learning Student Loan Corp., is the largest charitable organization in Los Angeles County, as measured by its 2003 assets of $850 million. Yet few outside of higher education know it even exists.

The Los Angeles-based institution was the fifth-largest originator of higher education loans in California in 2003, grabbing 5 percent of the market, behind a handful of large players such as Sallie Mae and Bank of America.

In this school year, All Student Loan is expected to originate $170 million in loans to students in school, plus another $90 million in consolidation loans for students who have already graduated.

"Despite our size in the non-profit world, in the banking world we are a fairly small player," said Chief Executive Christopher Chapman.

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