July 17 - Discover Financial Services ( DFS ) said on

Wednesday it had sold a private student loan portfolio for up to

$10.8 billion to private equity firms Carlyle and KKR

.

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.