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Legislative Updates

State of Colorado Potentially Selling DHE Student Loan Portfolio to Nelnet, Inc.

News Release :: May 9, 2010

The State of Colorado will be moving forward with the potential sale of the Department of Higher Education’s (DHE) $1.5 billion Student Loan Portfolio to Nelnet, Inc. The terms require the sale to be consummated no later than September 30, 2010. We will honor pending disbursements as well as new loans that match the first disbursed by June 30, 2010 and fully disbursed by August 31, 2010 criteria.

Since all DHE student loans are currently serviced by Nelnet, there is no impact to borrowers and all borrower benefits will be honored by Nelnet.

The recent passage of federal legislation eliminating FFELP and moving all schools to direct lending prompted this action. If finalized and executed, the State Legislature will determine how revenues from the sale will be used.

Thank you for your continuing partnership with CollegeInvest and the Department of Higher Education. Please be assured that CollegeInvest's 529 College Savings Plan will continue.

  • COF was approved in the long bill for $62 for 2010-11 academic year, $31 for Pell-eligible students at DU, Regis and CCU.
  • There was no state merit aid approved for 2010-11.
  • State need-based aid was held flat.
  • The Colorado TEACH grant was eliminated – approx $500,000.
  • Pell grant for 2010-11 minimum expected family contribution(EFC) increased to 5273. Additionally, Pell grants were expanded to allow half-time students to receive Pell for summer.

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