FFELP follies

Category: ABS

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Debt servicer in the spotlight as default looms for $3bn SLABS

All eyes are on student loan servicer Navient after Fitch downgraded SLMA 2008-3 to D at the beginning of the month.

It is highly likely that more Federal Family Education Loan Program (FFELP) deals will meet the same fate and Navient must work out a strategy to cope with default on a large scale, say analysts.

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