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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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Prudent postgraduates can find ways to make ends meet
If you are horrified by the idea of undergraduates having to pay up to £3,000 a year for further education, spare a thought for postgraduates.
In September this year annual tuition fees for undergraduates are set to change from the present flat rate of £1,175 to between nothing and £3,000. The fees will be covered by a government loan, meaning that undergraduates will no longer have to pay large sums of money upfront.
Postgraduate students have long been used to paying close to £3,000 for their full-time courses, but under the new rules will not be offered the chance to delay payments. Whatever the rights or wrongs of the new system, postgraduates will still be faced with paying large sums of money out of their bank accounts by cheque, cash or direct debit at the beginning of their academic year.