Minnesota Company Will Manage California Student Loans

August 30, 2010

The U.S. Education Department has selected a Minnesota company, Education Credit Management Corporation, to manage California's federal student loan portfolio, The Sacramento Bee reported. The decision removes EdFund from the federal loan program. EdFund has managed California's federal loans but has been in a series of controversies with the state, with some officials wanting to sell the agency -- a move that is now blocked.

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