Nelnet, Inc. Purchases Residual Interest In Federal Student Loans From Affiliate Of Greystone & Co., Inc

Nelnet, Inc. announced that it closed on a transaction to purchase the residual interest in $1.9 billion of Federal Family Education Loan Program consolidation loans from an affiliate of Greystone & Co., Inc. Nelnet acquired the ownership interest in GCO SLIMS Trust-1 (SLIMS Trust) giving the Company rights to the residual interest in GCO Education Loan Funding Trust-I (Trust-I). As a part of the agreement, Nelnet will become master servicer and administrator for Trust-I and administrator for the SLIMS Trust. Terms of the transaction were not disclosed.