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Nelnet and you may Higher Lakes are also collaborating for almost two years to grow an alternative, top notch maintenance system to have regulators-possessed figuratively speaking because of a joint venture. The fresh new upkeep platform significantly less than invention commonly use today’s technology to efficiently level for additional volume, include buyers suggestions, and you may help enhanced borrower experience effort. Brand new efficiencies gathered by the leverage an individual platform having government-possessed financing support hundreds of thousands far more individuals will give Great Lakes and you may Nelnet possibilities to put money into techniques to further boost debtor skills.

“Moving forward towards development of our very own condition-of-the-ways financing upkeep program have a tendency to allow us to provide the greatest possible experience getting borrowers due to the fact all of our organizations already been better together with her,” said Joe Popevis, president out of Nelnet Varied Alternatives (NDS). NDS is the owner of Nelnet Maintenance, Nelnet’s repair business, and will also individual Higher Lakes’ maintenance organization. “It deal speeds up all of our technology integration and you will collaboration, making united states on most best online installment loans West Virginia powerful standing you’ll to enhance the development of one’s the fresh program.”

Underneath the terms of the fresh new contract, Nelnet pays $150.0 million inside the dollars for everyone of one’s a fantastic stock of Higher Lakes. (more…)