Chase Education Finance announced today that it will hire as many as 150 of the 265 workers laid off in Indianapolis yesterday by student loan company Nelnet.
Chase Education Finance is adding the workers in an attempt to boost its capacity to originate student loans, the bank said.
The Chase unit has 250 workers based downtown in Chase Tower. Not including the Nelnet workers, Chase has a total of 850 employees in its student finance arm.
Chase will try to sublease Nelnet’s space at Woodfield Crossing on the northeast side.
Nelnet, based in Lincoln, Neb., said yesterday that it would cut a total of 400 jobs because proposed lending regulations under consideration by Congress would slash subsidies for student aid.