SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2014

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE 15 — SUBSEQUENT EVENTS

Dividend Payout

In October 2014, the Company’s Board of Directors declared a quarterly dividend of $0.18 per share on the Company’s common stock payable on or about November 17, 2014 to shareholders of record as of November 3, 2014.

Loan Sale

On October 6, 2014, the Company sold $253.8 million of student loans to a third party. The majority of the loans sold were classified as held for sale as of September 30, 2014.