Fitch Publishes the Second Quarter Edition of the Student Loan Report Card

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.

Fitch's rating definitions and the terms of use of such ratings are available on
the agency's public site, www.fitchratings.com. Published ratings, criteria and
methodologies are available from this site, at all times. Fitch's code of
conduct, confidentiality, conflicts of interest, affiliate firewall, compliance
and other relevant policies and procedures are also available from the 'Code of
Conduct' section of this site.

Fitch Ratings, New York
Nicole Edwards, +1-212-908-9114
Cynthia Ullrich, +1-212-908-0609
Sandro Scenga, +1-212-908-0278 (Media Relations)
sandro.scenga@fitchratings.com

Copyright Business Wire 2009