Nelnet buys LoanSTAR

Nelnet, Inc. entered into an agreement with the Greater Texas Foundation to acquire the outstanding stock of its wholly owned student-loan subsidiary LoanSTAR Funding Group. The transaction includes the acquisition of LoanSTAR Funding’s student loan portfolio of approximately $850 million, primarily originated under the FFELP Program. Nelnet also agreed to purchase the servicing assets, including the student loan servicing operations in Bryan, Texas, of LoanSTAR Systems, Inc., a Texas-based non-profit corporation.