Vemo Education Partners with Goal Structured Solutions (GS2)
- March 17, 2016
- Posted by: Kerry Schneider
- Category: Investors, VEMO Newsroom
RESTON, VIRGINIA (March 17, 2016) – Vemo Education, an education finance company working with U.S. colleges and universities to develop and service value-oriented, income-based student financing programs, confirmed today that Goal Structured Solutions (GS2) has acquired a minority ownership interest in the company.
GS2 is a San Diego based asset management company with over $24B of student loans under management. They offer a comprehensive array of products and services to the education finance marketplace, including trust administration, portfolio management, loan performance analytics and capital markets advisory services. Named one of the best places to work in San Diego in 2015, GS2 is employee-owned with a management team that has extensive experience in education finance.
In connection with the investment, Vemo and GS2 have entered a strategic partnership, through which GS2 will act as valuation agent for income-based student financing contracts and trust administrator for financing facilities overseen by Vemo. The companies plan to jointly provide income share agreements and student-only loan products to select universities.
GS2 is providing Vemo with a first-of-its-kind financing facility to warehouse income share agreements used by students to pay for their college education.
“The GS2 mission is to revolutionize the way students and families pay for higher education and, we think income share agreements and other income-based financing are going to be the fastest growing segment of the education finance market,” said GS2’s Chairman and CEO Ken Ruggiero. “Vemo is the industry leader, and we are excited to be supporting them.”
“Ken and the team at Goal are highly respected in education finance,” said Vemo CEO Tonio DeSorrento. “We knew we wanted to partner with them – to benefit from their experience and incorporate their finance and administration expertise into our offering. Goal’s investment and partnership will help us do a better job for our clients and investors.”
Kerry Schneider, Vemo Education (firstname.lastname@example.org) PH: (703) 831-7231
About Goal Structured Solutions
GS2 is a values driven asset management company offering a comprehensive array of products and services to the education loan industry. GS2 has investments in $3 billion of performing and non-performing student loans and manages over $24 billion of private and federally-guaranteed student loans for our clients and partners in over 80 separate financing structures. GS2 is a licensed debt buyer and debt collector and uses its $50 billion student loan performance database to originate, analyze, value, acquire and manage portfolios. For more information, visit www.goalsolutions.com.
About Vemo Education
Vemo Education’s mission is to help higher education institutions align the value and the cost of their education by developing custom, value-oriented student financing programs. Providing a full-service approach to its educational partners, Vemo has invested in the infrastructure required to design, price, originate, disburse, and service income-based payment products. Vemo’s management team has extensive experience in education finance and the financial aid sector. Learn more at www.vemo.com.