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Stock impact report

Why student loan companies are in danger of becoming like airlines [MarketWatch]

Nelnet, Inc. (NNI) 
US:NYSE Investor Relations: nelnet.com/investors
Company Research Source: MarketWatch
Why student loan companies are in danger of becoming like airlines Two major student loan firms are planning to join forces. Nelnet NNI, +10.19% , a Lincoln, Nebraska-based student loan servicer, announced Thursday that it plans to acquire Great Lakes, a Madison, Wisconsin-based nonprofit servicer, for $150 million. If approved by regulators, the deal would mean that the number of large firms servicing government-issued student loans would drop from just four to three. The announcement comes as the Trump administration is revamping the contracting process for hiring servicers to manage the federal student loan portfolio. It also follows years of complaints and probes from consumer advocates and state law-enforcement officials who have said that servicers don’t do enough to work in borrowers’ best interest. The deal raises questions about whether an industry with fewer competitors will be able to effectively provide decent service to borrowers at a fair price to taxpayers, said David Show less Read more
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