ROCHESTER, N.Y. -- When Citicorp spun off its Student Loan Corp. unit two years ago, many saw it as a shrewd, timely move.

The nation's largest bank raised capital at a time when student loan-related stocks, like rival Student Loan Marketing Association (Sallie Mac), were the darlings of Wall Street.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.