SoFi up on report White House may sell parts of federal student loan portfolio

Shares of SoFi Technologies (SOFI) are up 7.3% to $28.29 in morning trading after Politico reported that the White House is weighing options to sell off parts of the federal government’s $1.6T student loan portfolio to the private market. According to people familiar with the matter, the discussions are said to have taken place among senior Department of Education and Treasury officials, and have focused on selling high-performing portions of the government’s massive portfolio of student debt owed by about 45 million Americans, the report adds. Other publicly traded companies in the space include Navient (NAVI), Nelnet (NNI), and SLM (SLM).