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Article: Fitch Affirms 230 Classes from 51 SLM FFELP Student Loan Transactions.
- Article from:
- Business Wire
- Article date:
- March 31, 2009
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NEW YORK -- Fitch Ratings affirms 230 classes of Federal Family Education Loan Program (FFELP) student loan asset-backed notes issued by SLM Corp.
The collateral securing the debt consists of FFELP loans, which are guaranteed by the U.S. Department of Education to at least 97% of principal and accrued interest, depending on loan origination date.
Overall, collateral performance for all of the trusts has been consistent with or better than expectations from a net default and delinquency perspective. As a result, parity, the ratio of trust assets to liabilities, has remained stable as the majority of the trusts have met their requirements to release excess ...