Earlier, he served as vice president of Student Loan Funding Resources, a student loan originator and secondary market, and as director of its joint
venture loan servicing company.
After the revision was announced, the Department of Education had reportedly already trimmed the list of potential student
loan companies to handle federal student
loan servicing down to three
companies: Navient, the Pennsylvania Higher Education Assistance Agency, and a joint
venture of Nelnet and Great Lakes.