Education Management Corp , which runs a chain of for-profit colleges, sold its student loan portfolio for about $44.4 million and said it will record a charge on the sale in the third quarter. The portfolio consists of loans provided by the company to its students who had exhausted government aid and were also denied a private loan. EDMC sold the unit to an unaffiliated Delaware trust, it said in a regulatory filing. The company expects to record a loss of about $13.2 million in the third quarter as a fair market value adjustment in connection with the sale.
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