Illinois Student Loan Portfolio Could be Sold for as Much as $500 million

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00002281-illinois-student-loan-portfolio-could-be-/

By Mary Tallon, Associated Press

Illinois Budget Director John Filan announced Monday that the governor’s proposal for a new budget includes selling the state’s portfolio of college student loans to a private company.

That would generate a one-time cash infusion of $300 million to $500 million, Filan said. One-third of that would go toward providing more college scholarships, and the rest would be used to pay general state expenses and help close the state’s $1.2 billion deficit.

For this complete story, please visit Student loan portfolio plan could mean layoffs .

Illinois Student Loan Portfolio Could be Sold for as Much as $500 million

Unknown Author

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