ELFI Graduate Loan Program raises $281 million in SLABS
Should the transaction's cumulative default rate exceed 2.45% on or before Oct. 25, 2027, a lockout trigger accelerates note principal repayments from closing until May 25, 2024.
Student loan ABS
New Hampshire education authority sponsors $71.5 million in ABS
The deal will issue two series of notes, which benefit from a reserve account with approximately $1.4 million, representing about 2.0% of the initial bond balance.
Nelnet prepared to raise $358.9 million in ABS
High-quality attributes secure the notes, including that 90.7% of the loans are been co-signed, and just 12.1% of the trust's loans consist of direct-to-consumer (DTC) loans.
Iowa Student Loan Liquidity sets out to raise $172.3 million
The deal also has a reserve account with an initial balance of $8.0 million at closing, representing 2.0% of the initial bond balance.
ABS issuance slump continued in H1, doing $130.8 billion in new business
Both credit card and student loan issuers made up for tepid starts to 2023 by leaping over their first-quarter production numbers, but it wasn't enough to overcome an overall slide.
Minnesota Office of Higher Ed floats $53.7 million in private student loans
Loans that have yet to be originated must adhere to limitations. No more than $719,870 of originations can consist of loans made to students attending proprietary schools.
Vermont Student Assistance to raise $30 million in student loan ABS
At around June 15, 2024, the VSAC will reach the end of a collateral recycling period, when it has the option to originate additional eligible loans.
Navient Solutions raises $510 million in latest student loan ABS
NaviRefi loans account for 30% of the collateral securing the Navient Private Education Refi Loan Trust, 2023-A's. It is a noticeably higher amount than the previous deal, the 2022-B, which contained a 21% concentration.
SMB Private Education Loan Trust seeks to raise $401 million in ABS
The deal has an exposure to fixed-to-floating interest rate risk. While 75%-88% of the total notes are fixed rate, while just 57% of the underlying assets are.
Supreme Court questions Biden student-loan relief worth billions
Chief Justice John Roberts told a Biden administration lawyer the program will have enormous financial implications for millions of Americans.
Stagflation, maturity risk downgrades on US student loan ABS still on
Loan forgiveness would help offset FFELP student loan ABS low prepayment rates and maturity risk, a primary driver of rating downgrades since 2016.
By
Amilda Dymi
Smart Option private student loans secure $2.2B SMB Private Education Loan Trust
Smart Option loans lack a government guarantee, but typically are extended to borrowers with higher credit quality and a higher percentage of co-signers.
Student loan ABS notch delinquencies in Q1, but don’t raise alarms
Delinquencies could trend downward, similar to the rise in early stage delinquencies in 2020, but observers say high inflation could add pressure to in-school repayments.
Pennsylvania student loans secure $83.6 million deal
A strong capital structure boosts confidence in the timely payments of the notes, including provisions to mitigate negative carry.
The Consumer Finance Protection Bureau appeals federal ruling on trusts
The NCSLTs say whether student loan ABS trusts are “covered persons” and thus under the CFPB’s regulation is not something that an appeals court should decide.
Pros fear court ruling on student loan ABS suit could hurt consumer ABS
At issue are CFPB claims that the National Collegiate Student Loan Trust (NCSLTs) had engaged in deceptive student loan debt collection and unfair litigation practices.
Fitch affirms, upgrades notes on six Nelnet Student Loan transactions
Fitch Ratings affirmed classes on five transactions, and upgraded class B notes on one deal, citing strong performances, plus upgraded B notes on a 2004 transaction.
New Mexico Educational Assistance plans to issue $208 million in student loan ABS
Most of the deals are FFELP loans, but the sponsor and servicer entity is considered a financially weak company.
Navient’s latest student loan securitization pools loans to high-earning borrowers
Robust salaries are a plus, but concentrating loans in a few well-paying fields presents different risks.
Navient floats third student loan ABS to market as Libor sunset for new loans approaches
FFELP, Stafford consolidation loans comprise the bulk of the collateral in the transaction.
Load More
Couldn’t load more articles. Try again.