Stock Market News

Discover sells student loan portfolio for up to $10.8 billion

07/17/2024

Less than a minute

2024.07.17 08:40

Discover Financial Services (NYSE:) said on Wednesday it had sold a private student loan portfolio for up to $10.8 billion to private equity firms Carlyle and KKR.

© Reuters. FILE PHOTO: A student attends a graduation ceremony in Los Angeles, California. REUTERS/Jonathan Alcorn/File Photo

The company, which had been weighing a sale of the portfolio since November last year, is one of a handful of lenders that have exited the space in recent years.

The deal is expected to be completed by the end of 2024, Discover said.

07/17/2024

Less than a minute

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