Founded in 1999, College Loan Corporation (CLC) quickly grew to become one of the largest student loan providers in the United States. Operating as a non-profit entity, its mission was to provide lower-cost educational financing options for students and families. The company originated both federal (FFELP) and private student loans. However, due to the credit market crisis in 2007-2008, CLC ceased originating new loans in late 2007. Subsequently, its loan portfolio was acquired and is now serviced by other financial institutions, and its parent company's assets were acquired by Discover Financial Services.

Founded in

United States