PALO ALTO, Calif. – In the largest deal of its kind, Stanford FCU said yesterday it has acquired $12.8 million of student loans for Stanford University students from Nelnet, the well-known student lender. The Lincoln, Neb.-firm will continue to service the purchased loans, for about 500 current and former students. Nelnet will also continue to serve Stanford University. The deal represents an expansion of the $800 million credit union’s relationship with Stanford students, part of an effort to forge lifelong relationships with the members. Financial terms of the deal were not disclosed.
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