Discover to sell student loan portfolio for $10.8B
Discover Financial Services announced a plan to sell a portfolio of student loans to Carlyle and KKR for up to $10.8 billion.
The lender announced that the loans will be sold at a premium to their principal balance of nearly $10.1 billion. The company has been weighing the sale of the portfolio since November 2023, according to Reuters, and is just one of several lenders that have exited the space over the last few years.
Read more: Reuters
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