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In addition, the trust benefits from a debt service reserve account in the form of a surety bond provided by Ambac Assurance Corporation in the amount of $53. The debt service reserve account is sized at the greater of 2% of total bonds outstanding issued prior to 2007 and 0. The bond proceeds will be deposited to the loan account and be used to acquire or originate FFELP student loans, deposited to the debt service reserve account, and pay costs of issuance. |
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