NEW YORK--(BUSINESS WIRE)--In the second quarter of 2009, student loan asset-backed securities (ABS) performance continued to show some resilience to the weak economy according to Fitch Ratings in its latest edition of 'The Student Loan Report Card'.
Most FFELP and private student loan ABS performance has been within expectations, with negative rating actions primarily limited to transactions with variable rate demand obligations where Fitch had assigned an 'AAA' underlying rating. TALF participation has been minimal compared to other asset classes and the proposal to end FFELP (now referred to as the Student Aid and Fiscal Responsibility Act of 2009) began its legislative journey.
In this edition, Fitch provides a recap of the income based repayment option, and the new interest rates now effective for some Stafford loans. Trust performance is also discussed.
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