On April 10, Nelnet agreed to purchase a total of $3.6 billion of Federal Family Education Loan Program (“FFELP”) student loans and related assets from CIT Group.

The transaction, which was disclosed in a regulatory filing Wednesday, includes the purchase of residual interests in a total of $2.6 billion of securitized student loans and related assets under a stock purchase agreement, and the purchase of a total of approximately $950 million of unsecuritized student loans under three separate loan sale agreements. 

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