- Associated Press - Wednesday, June 15, 2016

WINOOSKI, Vt. (AP) - The Vermont Student Assistance Corp. is getting out of the business of servicing the federal Direct Loan program and it will be laying-off an estimated 55 employees while another 20 positions have been eliminated through attrition.

VSAC CEO Scott Giles says servicing the federal loans wasn’t providing enough of a benefit to Vermont families.

Giles says the organization wants to focus its efforts on Vermont students and schools.

VSAC is a public nonprofit agency that helps Vermonters who want to go to college or other training after high school. The organization provides grants, loans, scholarships, career and education planning.

The Winooski-based VSAC currently employs about 240 people.

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