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Nelnet buys educational recruitment, retention company
Nelnet paid $40 million in cash, but may pay more in the future if CUnet meets certain performance targets, the company said in a news release.The sale is scheduled to become final July 1, after which CUnet will become a wholly-owned subsidiary of Nelnet, and will retain its identity, management team and office locations in Wyckoff and Rochester, N.Y. The company employs about 65 people.CUnet provides more than 1,000 campus locations and online schools with materials and services to enhance their brands, and improve student recruitment and retention, according to the news release. "We are excited to join forces with the CUnet team," said Steve Butterfield, Nelnet vice chairman and co-chief executive officer. "CUnet expands the education-related services and products we offer colleges and universities, complementing our initiatives to match college-bound students with higher education institutions."Nelnet said in the release that the acquisition of CUnet is not likely to have a positive effect on net earnings for at least three years.The purchase of CUnet continues Nelnet’s aggressive acquisition strategy over the last few years.The company is among the nations leaders in terms of total net student loan assets with $21.3 billion as of March 31.
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Get Gephardt: Student Loan Rates About To Go Up
(KUTV) SALT LAKE CITY A mad scramble is underway by college students to beat the deadline for the student loan interest hike. What can you do about it? Bill Gephardt has some answers.Friday night is the deadline when interest rates for you, or your kid's federal student loans will go to the highest level in six-years. Student loan offices around the country are flooded with people this week. If you wait, you'll pay an extra two-percent on the money you borrow, which could cost you thousands of dollars in the future.If you just heard about the deadline, where do you start? You can complete all your loan applications online. Visit uheaa.org, where the Utah Higher Education Assistance Authority will walk you through the process.
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