Wells Fargo is helping to finance the sale of its own portfolio of federally guaranteed student loans.

Navient, the student loan servicer spun off from SLM Corp., said today it has closed on a $10 billion asset-backed commercial paper facility that will finance the acquisition of Federal Family Education Loan Program (FFELP) portfolio, including an $8.5 billion portfolio it has agreed to purchase from Wells Fargo.

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