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Nelnet originates, holds, and services student loans, principally loans originated under the Federal Family Education Loan Program, referred to as the FFEL Program or FFELP.
FFELP student loan ABS portfolio to both moderate and severe scenarios to determine the impact on existing ratings.
On average, during the 1995-to-2003 period, FFELP consolidation loan borrowers had higher levels of consolidation loan debt than FDLP consolidation loan borrowers.
Recent changes to special allowance payment (SAP) calculations for FFELP loans has put basis risk for U.
FFELP ABS going forward, as detailed in a new report.
Following the recent periods of unprecedented volatility in interest rates, Fitch conducted a study to investigate the nature and magnitude of basis risk, an important factor influencing the performance of FFELP student loan ABS.
KHESLC was established in 1978 as a de jure municipal corporation and now maintains a 72% market share of Kentucky FFELP student loans.
While legislative risk has always been a key rating factor for SLM, the proposal to essentially eliminate FFELP is not incorporated in the current ratings, as the announcement follows a concerted effort to support FFELP lenders in recent months to ensure uninterrupted access to funding for students.
Fitch has assigned Sallie Mae a FFELP servicer rating of 'Proficient Plus'.
Overall, the collateral performance of the SLM FFELP student loans financed by the various trusts has been consistent with Fitch's expectations from a net loss perspective.
This program was expanded in 1986 to include private student loans to bridge the gap between the cost of education and what FFELP affords.
The servicers for this transaction are Great Lakes Educational Loan Services (rated 'Proficient Plus' for FFELP loans by Fitch) and ACS (IDR rating 'BB').
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