Chase Manhattan Corp. Monday said it has set up two joint ventures with the Student Loan Marketing Association to acquire and market student loans originated by the bank.

The first unit, Education First Finance, will acquire Chase's existing $2.6 billion portfolio of student loans. The second, Education First Marketing, will market the loans to borrowers. Chase will continue to originate student loans.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.