Wednesday, April 7, 2010 as of 11:14 AM ET
Nelnet () is a Lincoln, Nebraska-based lending conglomerate that deals in the administration and repayment of student loans.
Read More at Wikipedia ›(Reuters) - Nelnet <NNI.
N> said it bought a residual interest in $1.9 billion of federal student loan from an affiliate of Greystone & Co Inc.The student finance company acquired the interest in notes issued by GCO Student Loan Interest Margin Securities Trust-I (GCO SLIMS Trust-1), giving the company rights to the residual interest in GCO Education Loan Funding Trust-I.The company expects the purchase to add immediately to base net income.Nelnet said the loans and debt within the trusts will increase its student loan portfolio to more than $25 billion.(Reporting by Anil D'Silva; Editing by Don Sebastian)...
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