Strada Education Network℠ (Strada) today announced that, after five years of innovative work around college affordability, a new chapter is beginning for its Student Connections affiliate, which provides student loan default prevention management software and services to colleges and universities.
Strada is currently working with Loan Science, an Austin, Texas-based company seeking to increase access to higher education by preventing student loan default through financial education, data analytic tools, and smart repayment management systems, to finalize the terms of a definitive agreement under which Loan Science will acquire the Student Connections business from Strada.
Loan Science plans to continue operations from Student Connections’ current location in Indianapolis, including maintaining the majority of Student Connections staff.
“We are excited to establish operations in Indianapolis,” said Curtis Wright, President, Loan Science. “Student Connections has a talented team and fantastic facility. We look forward to building on the positive impact they provide to students and schools through our partnership together.”
“Strada formed Student Connections in 2013 as an extension of our legacy work as a student loan guarantor to help tackle issues of college affordability,” said William D. Hansen, Strada Education Network President and CEO. “We exited our role as a guarantor in 2016, and our social impact priorities have evolved from a historical focus on college access to a new organizational strategy centered on Completion With a Purpose. We are supporting our Student Connections colleagues through this transition and look forward to their continued contributions to student and institutional success, working in partnership with a leading organization like Loan Science to serve even more school customers and students together.”
Strada and Loan Science intend to finalize terms and transfer operations before mid-June.