Collateral Performance for PHEAA 2014-1: Fitch assumes a base case default rate of 25% and a 65.
Collateral Performance for PHEAA 2014-2: Fitch assumes a base case default rate of 23% and a 60.
Payment Structure for PHEAA 2014-1: Credit enhancement (CE) is provided by overcollateralization (OC), excess spread and, for the class A notes, subordination.
Payment Structure for PHEAA 2014-2: CE is provided by OC and excess spread.
PHEAA provided funds for the acquisition of microcomputers for CORES site labs, software for class use and tuition scholarships for participating teachers.
PHEAA was established as the conduit for funding; Clarion University, with Ken Mechling as ITEC director, was chosen as the headquarters for the Teacher Education Center (TEC).
A recent PHEAA survey also indicated that two out of every three ITEC I graduates are using microcomputers in their classrooms to teach concepts and processes to students.
All courses ae free to teachers through tuition scholarships from PHEAA.
Now known as Interfacing I for Secondary Teachers, it is a one-credit, graduate-level course free to teachers of science through tuition scholarships from PHEAA.