Discover sells student loan portfolio for up to $10.8 bln-March 2024-www.financetom.com

Discover sells student loan portfolio for up to $10.8 bln

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Discover sells student loan portfolio for up to $10.8 bln

Jul 17, 2024 5:41 AM

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.

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