SIOUX FALLS, S.D.–ReliaMax, a private student lending solutions provider, said its ReliaMax Surety Co. now insures more than $3 billion of in-school and refinanced private student loans.
ReliaMax reported insured loan volume has grown by $500 million, more than 20%, since February 2016.
“We’ve hit an important milestone, $3 billion dollars of insured private student loans. On behalf of our bank, credit union and alternative lender clients, we are now the fourth largest provider measured in terms of facilitating private student loan volume,” said Michael VanErdewyk, CEO of ReliaMax, in a released statement. “The growth in our insured loan volume speaks directly to the increasing growth rate in private student loans and to our distinct ability to decrease charge-offs – effectively bringing default risk to zero when a loan is insured.”