PHEAA - Fitch Downgrades Sub and Jr. Sub Notes for PARTS Student Loan Trust 2007-CT1
Fitch downgraded Sub and Jr. sub notes for PARTS Student Loan Trust 2007-CTI. The outlook for Class A, B, and C is negative. The downgrades are a result of an increase in defaults to 12.8%. The private loans originated from either TERI or LEARN. PHEAA services the loan portfolio. In addition, PHEAA operates its student loan services commercially as AES (American Education Services). When servicing federally-owned loans, it operates as FedLoan Servicing.
In other news, PHEAA recently announced that it would be contributing $50 million to help the Pennsylvania State Grant Program. The 'financial assistance' is described as 'public outreach.' State Senator Tommy Tomlinson made the announcement. Tomlinson is a board member of PHEAA.
PHEAA has been blasted in the past for gross mismanagement and usage of funds. Several news outlets in Pennsylvania fought for 19 months to have documents on their expenditures released. It turns out, a number of
In other news, PHEAA recently announced that it would be contributing $50 million to help the Pennsylvania State Grant Program. The 'financial assistance' is described as 'public outreach.' State Senator Tommy Tomlinson made the announcement. Tomlinson is a board member of PHEAA.
PHEAA has been blasted in the past for gross mismanagement and usage of funds. Several news outlets in Pennsylvania fought for 19 months to have documents on their expenditures released. It turns out, a number of
