Discover Is Selling Its Student Loan Portfolio. What Does That Mean for SoFi Stock?

Discover Financial Services (NYSE:DFS) announced this morning that its subsidiary, Discover Bank, would sell its private student loan portfolio. The buyer consists of at least one strategic partnership managed by Carlyle (NASDAQ:CG) and KKR (NYSE:KKR). Discover's portfolio of student loans had a principal balance of about $10.1 billion as of June 30 while the selling price is estimated to be up to $10.8 billion. Discover Is Selling Its Student Loan Portfolio. What Does That Mean for SoFi Stock? Still, sever ...