PROVIDENCE – Residents Monetary Group Inc. is increasing its portfolio but once more, this time with an internet faculty planning platform.
Dad or mum firm Residents Financial institution on Tuesday introduced it had reached a definitive settlement to accumulate Faculty Raptor Inc., an Iowa-based firm that matches potential faculty college students to universities based mostly on their educational efficiency and monetary wants.
The announcement stated the acquisition goals to develop Residents’ scholar lending choices, which embody loans for college students and their dad and mom, in addition to refinancing choices for personal and federal scholar mortgage holders.
“The acquisition of Faculty Raptor affords a novel alternative to have interaction with potential faculty college students and their households as they navigate the school search and choice course of,” Chris Ebeling, govt vice chairman and head of scholar loans at Residents, stated in an announcement. “This modern platform additional strengthens our potential to offer customized recommendation and insights at this essential stage of their lives, whereas additionally reinforcing our dedication to monetary empowerment. We’re dedicated to offering our youthful era of shoppers with the digital assist and providers they want all through their monetary journey.”
As soon as the deal is closed — anticipated within the fourth quarter of the 12 months — Faculty Raptor will grow to be a completely owned subsidiary of Residents.
The phrases of the deal weren’t disclosed.
Nancy Lavin is a employees author for PBN. You possibly can contact her at [email protected]
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