RIVERWOODS, Ill.—Discover is considering selling its student loan business, according to a new report.
“The credit card company will explore the sale of its Discover Student Loans portfolio, according to a regulatory filing,” the Wall Street Journal reported. “It will also transfer the servicing of those loans to a third-party provider as it pursues strategic alternatives for the student loan business.
“Discover said it will stop accepting new applications for student loans on Feb. 1. It added there isn’t any impact to current customers with student loans or their payments at this time,” the Journal added.
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