That is not good news for anyone because it doesn't help anything. Even if debt is sold, we close.
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ECMC has many divisions within their company. They offer student loans as well as having a subsidiary, Premiere Credit of North America, which collects on federally defaulted loans. This acquisition can be seen as a way for them to expand their offerings as a company.
Supposedly, They are interested to expand their horizon and open up schools.
People may be confusing it with EDMC, which is a college. But it's not the college that came through, it's the student loan debt collection company.