RT Journal Article
SR Electronic
T1 Factors Affecting the Student Loan<br/>ABS Marketplace
JF The Journal of Structured Finance
FD Institutional Investor Journals
SP 57
OP 64
DO 10.3905/jsf.2012.18.2.057
VO 18
IS 2
A1 Vince Sampson
A1 Samantha DeZur
YR 2012
UL https://pm-research.com/content/18/2/57.abstract
AB The landscape for student loan asset-backed securities (SLABS) has been fundamentally transformed over the past several years. To depict the current state of the industry and short-term projections, this article provides a market overview and analysis of the political, economic, and regulatory factors affecting the asset class. Key topics discussed include the elimination of the Federal Family Education Loan Program; the William D. Ford Federal Direct Loan Program; private student loans; unique characteristics of nonprofit and state agency issuers; SLABS financing structures; evolving ratingagency influence; student loan legislation in the 112th Congress; and pertinent outcomes of the Dodd–Frank Act, such as the creation of the Consumer Financial Protection Bureau, increased oversight from the Securities and Exchange Commission, the authority of the Municipal Securities Rulemaking Board, and rules including the risk retention, municipal advisor, and Volcker rules. Importantly, through waves of legislation, regulations, new regulatory bodies, and the aftermath from the 2008 financial crisis, issuers and investors have adapted and maintained SLABS as an attractive asset class.TOPICS: Asset-backed securities (ABS), volatility measures