SOURCE: The First Marblehead Corporation

The First Marblehead Corporation

December 18, 2013 16:01 ET

First Marblehead Signs Portfolio Management Services Agreement With Vermont Student Assistance Authority

BOSTON, MA--(Marketwired - Dec 18, 2013) - The First Marblehead Corporation (NYSE: FMD) today announced the signing of an agreement to perform credit and data analytics services and consulting services to the Vermont Student Assistance Corporation (VSAC).

About The First Marblehead Corporation First Marblehead helps meet the need for education financing by offering national and regional financial institutions and educational institutions the Monogram® platform, an integrated suite of design, implementation and credit risk management services for private label, customizable private education loan programs. For more information, please see www.firstmarblehead.com. First Marblehead supports responsible lending and is a strong proponent of the smart borrowing principle, which encourages students to access scholarships, grants and federally-guaranteed loans before considering private education loans; please see www.SmartBorrowing.org. Through its subsidiary, Union Federal Savings Bank, First Marblehead offers private education loans, residential and commercial mortgage loans and retail savings, money market and time deposit products. For more information, please see www.unionfsb.com. First Marblehead also offers outsourced tuition planning, billing, payment technology services and refund management services through its subsidiary Tuition Management Systems LLC. For more information, please see www.afford.com. Through its subsidiary, Cology LLC, First Marblehead offers private education loan processing and disbursement services as well as life-of-loan servicing for lenders. For more information, please see www2.cology.com.

About Vermont Student Assistance Corp. is a nonprofit agency of the State of Vermont that promotes and facilitates higher education for Vermonters. VSAC was established in 1965 and provides education planning, and provides education funding through grants, loans and scholarships.

Contact Information

  • Contact:
    Kenneth Klipper
    Chief Financial Officer
    The First Marblehead Corporation
    800 Boylston Street, 34th FL
    Boston, MA 02199
    617.638.2065