Founded in 1991, The First Marblehead Corporation was a prominent player in the U.S. education finance market. The company's primary business was the origination, securitization, and servicing of private student loans, partnering with banks and credit unions to offer these products under their brands. First Marblehead's business model focused on generating revenue through fees from loan processing and by packaging the loans into asset-backed securities (ABS) sold to investors. In 2011, the company rebranded as Cognition Financial Corporation to better reflect its expanded services. Over the following years, facing a changing regulatory and market landscape, the company sold off its primary student loan and servicing businesses and effectively wound down its core operations.

Founded in

United States