On Air Now

Upcoming Shows

Program Schedule »


Listen Live Now » 1450 AM Holland, MI


Current Conditions(Holland,MI 49422)

More Weather »
71° Feels Like: 71°
Wind: ENE 9 mph Past 24 hrs - Precip: 0”
Current Radar for Zip


Partly Cloudy 53°


Partly Cloudy 76°

Thurs Night

Cloudy 63°


Nelnet buys residual interest in federal student loan

(Reuters) - Nelnet said it bought a residual interest in $1.9 billion of federal student loan from an affiliate of Greystone & Co Inc.

The student finance company acquired the interest in notes issued by GCO Student Loan Interest Margin Securities Trust-I (GCO SLIMS Trust-1), giving the company rights to the residual interest in GCO Education Loan Funding Trust-I.

The company expects the purchase to add immediately to base net income.

Nelnet said the loans and debt within the trusts will increase its student loan portfolio to more than $25 billion.

(Reporting by Anil D'Silva; Editing by Don Sebastian)