The First Marblehead Corporation · Boston, MA United States ·(NYSE: FMD)

With a Harvard education costing six figures, that government student loan just isn't going to cut it anymore. Enter First Marblehead. The company creates programs and provides services for lenders and schools who offer private (not secured by the government) student loans for undergraduate, graduate, and professional education, and to a lesser extent, continuing education and study abroad programs. In addition to marketing, servicing, and processing services, First Marblehad offered loans through federally chartered thrift Union Federal Savings Bank, acquired in 2006. First Marblehead has processed more than 1.4 million student loans. The firm eliminated 500 jobs (more than half of its personnel) in 2008. To read the full description, subscribe now.