Nelnet Canada to acquire Canadian student loan servicing business

Nelnet (NNI) and its wholly owned subsidiary Nelnet Canada announced an agreement with DH Corporation, a wholly owned subsidiary of Finastra Holdings, to acquire Finastra’s Canadian student loan servicing business. The transaction is expected to close in 1Q26, subject to customary closing conditions. Finastra’s Canadian student loan servicing business is a provider of student loan servicing solutions to governments and financial institutions in Canada providing technology enabled managed services across the loan lifecycle. The business currently services loans for 2.4 million borrowers on proprietary technology platforms. Nelnet intends to maintain independent Canadian business operations with the full team continuing to be led by Susan Tersigni, VP of Student Lending, reporting to Joe Popevis, president of Nelnet Diversified Services. The Canadian servicing business will remain headquartered in Mississauga, Ontario, with over 450 employees and additional contractors.