The document summarizes the private student loan market. It notes that outstanding student loan debt exceeds $1 trillion, with 80% coming from federal programs and 20% from private loans. Private loans are not guaranteed by the federal government like federal loans. The market contracted after the financial crisis but has improved in recent years through tighter underwriting. However, growth is still constrained by declining graduate school enrollment and regulatory uncertainty around bankruptcy treatment of student loans. The funding gap between rising education costs and limited federal funding leaves room for private lending to grow.
The document summarizes an evaluation of loan guarantees provided by USAID to Kenya Commercial Bank (KCB) through the Development Credit Authority (DCA) program in 2006 and 2010. The guarantees were intended to encourage KCB to increase lending to small and medium enterprises (SMEs) in underserved areas by covering 50% of the risk. The evaluation found that the guarantees achieved their objectives by enabling KCB to issue over 1,900 loans totaling over $13.5 million to SMEs in sectors like agriculture, tourism, and manufacturing. Borrowers experienced growth in sales, profits, and employment. The guarantees also demonstrated to KCB and other Kenyan banks that lending to SMEs can be profitable.
Financial aid refers to all funds available to students to cover the costs of postsecondary education, including federal and state grants and loans, institutional grants and scholarships, and private sources. It is generally awarded based on financial need, which is determined by subtracting a student's expected family contribution from the institution's estimated cost of attendance. Some common types of financial aid are portable grants like the Pell Grant that can be used at any institution, and campus-based aid allocated to schools to meet student need, though awards of campus-based funds and institutional grants are usually not impacted by outside resources like IDAs. Private loans should not be considered true financial aid.
Financial crisis now striking home for school districtspriscilladjohnson
The financial crisis is negatively impacting school districts in several ways. Districts are struggling to issue bonds to fund construction projects due to tight credit markets. They are also paying higher interest rates for short-term borrowing to cover operating costs until tax revenues arrive. Additionally, some districts' investments in troubled financial institutions like Lehman Brothers are now locked up, inaccessible, or have lost significant value. The crisis has led to delays in school construction projects, potential budget cuts, and concerns about long-term effects on bond ratings and economic health.
Xenith Bankshares is a bank holding company operating in Virginia through its subsidiary Xenith Bank. It provides business banking services in Northern Virginia, Richmond, and Hampton Roads - three markets that generate over 75% of Virginia's GDP. Xenith has grown organically and through acquisitions since 2009. It focuses on serving middle-market businesses, real estate developers, private banking clients, and select retail clients. Management believes Xenith is well positioned for further growth due to its strong capital position, competitive technology, experienced personnel, and expertise in sectors like government contracting.
Colleges try to sneak out of health coverage for studentsJohn Wilson
Colleges are trying to get waivers from provisions in the Affordable Care Act that would require them to offer student health insurance plans that meet minimum coverage standards. Currently, many college plans have high premiums, low coverage caps, and do not cover pre-existing conditions or prescription drugs. Colleges generate $1 billion in annual revenue from these limited, low-quality plans. The ACA provision allowing children to stay on their parents' plans until age 26 addresses the major issue of insuring young adults, so there is no valid reason for colleges to get a special waiver to continue offering substandard plans.
Credit Risk and Bank Performance in Nigeriaiosrjce
This study investigates the impact of credit risk on banks’ performance in Nigeria. A panel
estimation of six banks from 2000 to 2013 was done using the random effect model framework. Our findings
show that credit risk is negatively and significantly related to bank performance, measured by return on assets
(ROA). This suggests that an increased exposure to credit risk reduces bank profitability. We also found that
total loan has a positive and significant impact on bank performance. Therefore, to stem the cyclical nature of
non-performing loans and increase their profits, the banks should adopt an aggressive deposit mobilization to
increase credit availability and develop a reliable credit risk management strategy with adequate punishment
for loan payment defaults
This document summarizes a financial advisory presentation on saving and paying for a child's college education. It discusses factors to consider like the costs of different types of colleges, available financial aid options, federal and private student loans, tax benefits, and savings vehicles like 529 plans. It also addresses developing a financial plan and goal for paying for education.
The document summarizes an evaluation of loan guarantees provided by USAID to Kenya Commercial Bank (KCB) through the Development Credit Authority (DCA) program in 2006 and 2010. The guarantees were intended to encourage KCB to increase lending to small and medium enterprises (SMEs) in underserved areas by covering 50% of the risk. The evaluation found that the guarantees achieved their objectives by enabling KCB to issue over 1,900 loans totaling over $13.5 million to SMEs in sectors like agriculture, tourism, and manufacturing. Borrowers experienced growth in sales, profits, and employment. The guarantees also demonstrated to KCB and other Kenyan banks that lending to SMEs can be profitable.
Financial aid refers to all funds available to students to cover the costs of postsecondary education, including federal and state grants and loans, institutional grants and scholarships, and private sources. It is generally awarded based on financial need, which is determined by subtracting a student's expected family contribution from the institution's estimated cost of attendance. Some common types of financial aid are portable grants like the Pell Grant that can be used at any institution, and campus-based aid allocated to schools to meet student need, though awards of campus-based funds and institutional grants are usually not impacted by outside resources like IDAs. Private loans should not be considered true financial aid.
Financial crisis now striking home for school districtspriscilladjohnson
The financial crisis is negatively impacting school districts in several ways. Districts are struggling to issue bonds to fund construction projects due to tight credit markets. They are also paying higher interest rates for short-term borrowing to cover operating costs until tax revenues arrive. Additionally, some districts' investments in troubled financial institutions like Lehman Brothers are now locked up, inaccessible, or have lost significant value. The crisis has led to delays in school construction projects, potential budget cuts, and concerns about long-term effects on bond ratings and economic health.
Xenith Bankshares is a bank holding company operating in Virginia through its subsidiary Xenith Bank. It provides business banking services in Northern Virginia, Richmond, and Hampton Roads - three markets that generate over 75% of Virginia's GDP. Xenith has grown organically and through acquisitions since 2009. It focuses on serving middle-market businesses, real estate developers, private banking clients, and select retail clients. Management believes Xenith is well positioned for further growth due to its strong capital position, competitive technology, experienced personnel, and expertise in sectors like government contracting.
Colleges try to sneak out of health coverage for studentsJohn Wilson
Colleges are trying to get waivers from provisions in the Affordable Care Act that would require them to offer student health insurance plans that meet minimum coverage standards. Currently, many college plans have high premiums, low coverage caps, and do not cover pre-existing conditions or prescription drugs. Colleges generate $1 billion in annual revenue from these limited, low-quality plans. The ACA provision allowing children to stay on their parents' plans until age 26 addresses the major issue of insuring young adults, so there is no valid reason for colleges to get a special waiver to continue offering substandard plans.
Credit Risk and Bank Performance in Nigeriaiosrjce
This study investigates the impact of credit risk on banks’ performance in Nigeria. A panel
estimation of six banks from 2000 to 2013 was done using the random effect model framework. Our findings
show that credit risk is negatively and significantly related to bank performance, measured by return on assets
(ROA). This suggests that an increased exposure to credit risk reduces bank profitability. We also found that
total loan has a positive and significant impact on bank performance. Therefore, to stem the cyclical nature of
non-performing loans and increase their profits, the banks should adopt an aggressive deposit mobilization to
increase credit availability and develop a reliable credit risk management strategy with adequate punishment
for loan payment defaults
This document summarizes a financial advisory presentation on saving and paying for a child's college education. It discusses factors to consider like the costs of different types of colleges, available financial aid options, federal and private student loans, tax benefits, and savings vehicles like 529 plans. It also addresses developing a financial plan and goal for paying for education.
The document discusses the top 6 frequently asked questions about President Obama's student loan forgiveness program. It explains that the program forgives remaining student loan debt for those who work in eligible public sector fields like nursing, teaching, or the military. It outlines the eligibility criteria, including that borrowers must have direct or guaranteed federal loans disbursed in 2008 or later, not be in default, and have exclusively federal loans. The document also notes that consolidation of loans and automatic payments can help borrowers qualify for forgiveness.
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Overcoming Fear of Student Debt in Enrollment Decisions during Tough Economic...Ardeo Education Solutions
How Huntington University joined LRAP Association in a revenue-generating partnership that furthered the university's mission and fought enrollment decline. - G. Blair Dowden, Ed.D., President Emeritus, Huntington University
The document discusses the business opportunities for Medicaid managed care plans created by the health reform expansion of Medicaid. Key points include:
- An estimated 15 million additional people will gain Medicaid coverage, making it a large part of the insurance market.
- States are looking for Medicaid managed care plans to take on the new members and financial risk.
- This provides health plans with new patients and revenue to invest in initiatives like patient-centered medical homes and accountable care organizations.
The document discusses the need for workplace-based financial wellness programs by examining the current financial wellness landscape and the impact of financial distress on employers and employees. Some key points made include: many American workers live paycheck to paycheck and lack emergency savings; financial literacy is low as most people feel they could benefit from financial advice; payday loans contribute to financial crises and decreased productivity; high credit card debt and inability to save impacts mental health and ability to build assets for retirement. The document argues financial wellness programs can help reduce absenteeism, turnover, and presenteeism while improving loyalty, productivity, and 401k participation for employers and employees' financial stability and security.
This document provides an overview of a case study on SIC Life Insurance Company's Techiman Branch. It discusses key concepts like risk and insurance, and outlines the types of insurance available in Ghana, with a focus on life insurance. The document poses research questions on the measures insurance companies use to influence life insurance demand, the affordability of premiums, and the sufficiency of insurance claims. It describes the objectives, limitations, and organization of the study into 5 chapters, covering topics like literature review, methodology, data analysis and findings.
1) Unit-linked insurance has become popular in Indonesia as it provides both investment benefits and insurance coverage in a single product. It allows policyholders to invest in funds while also having life insurance.
2) However, Indonesia's insurance penetration remains relatively low at 1.3% of GDP compared to other Southeast Asian countries. This is due to public apathy regarding financial products.
3) While the life insurance market is dominated by 10 large companies, general insurance is less concentrated. Bancassurance through banks is the most popular distribution channel for insurance.
The document provides an overview of the William D. Ford Federal Direct Loan Program, including information about loan and disbursement processing, the Master Promissory Note, Direct PLUS Loan processing, funding, consolidation, borrower benefits and communication, and customer service. It addresses common questions from schools about various aspects of the Direct Loan Program in a question and answer format.
This document provides an overview and summary of key information about financial aid. It discusses the FAFSA filing deadline and statistics showing increased FAFSA submissions. It also outlines the FAFSA verification process and common errors. Additionally, it reviews the Expected Family Contribution calculation and how financial need is determined. Finally, it provides updates on federal and state aid programs for the upcoming year, including changes to Pell Grants, work-study, and loan amounts.
Monday November 12 2012 - Top 10 Risk Management NewsCompliance LLC
The document is a letter from the International Association of Risk and Compliance Professionals to its members providing a top 10 list of risk and compliance-related news stories and events that shaped the week. It discusses the additional capital requirements for global systemically important banks and introduces topics that will be covered at numbers 5 and 10 on the top 10 list, including a quote on conflicts of interest from the SEC and more details on the capital requirements. The letter serves to update members on recent risk and compliance news and events.
The document discusses the declining role of World Bank lending in middle-income countries and proposes ways to address the problem. It notes that World Bank lending to MICs has significantly declined in recent decades. While MICs still face development challenges, the Bank is constrained in supporting them. There are many reasons for the lending decline, including shifts in Bank priorities and procedures. Progress has been made to facilitate more lending, but more can be done, such as expanding financial intermediation lending and adapting instruments for sub-national governments.
Bancassurance involves banks selling insurance products through their existing distribution networks. It is a popular model worldwide, especially in Europe, with the global market estimated at $1.66 billion in 2018 and growing over 6% annually. There are four main models of bancassurance - distribution agreements, strategic alliances, joint ventures, and financial service groups. While bancassurance provides benefits like one-stop shopping and leveraging bank trust, it also poses challenges like different business models for banks and insurers, legal responsibilities, and adapting to digital banking trends. Critical success factors include senior management commitment, strong distribution strategies, treating insurance as core rather than add-on, and ensuring customers receive full product information.
The document discusses key findings from a global survey on pension and retirement systems.
1. Many governments and employers made pension commitments without fully understanding the long-term financial implications. A shift is needed from paternalism to empowering beneficiaries to make informed decisions.
2. Strategic clarity is important for stakeholders' confidence. A long-term vision focused on customers is needed, along with clear roles and accountability.
3. Respondents generally rated their vision and strategy maturity in the middle range, but more strategic clarity is still needed for reform and building public confidence in retirement systems.
This report analyzes loan default data from 2015-2016 to identify characteristics of borrowers who are most at risk of defaulting. The key findings include:
- Members aged 26-35 had the highest rate of default, while those aged 18-25 and 65+ had lower risks.
- Housing type and loan repayment frequency were also correlated with risk, with council tenants and monthly payers more likely to default.
- Existing members rather than new members, and borrowers taking out saver or instant saver loans, tended to have higher default rates.
- The analysis aims to help the organization minimize lending risk and identify criteria for future loan reviews.
Wells Fargo & Co is a diversified financial services company providing banking, insurance, investments and other services. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The document discusses Wells Fargo's business operations, ethical breaches related to military involvement and alcohol financing, true ESG risks around governance issues and controversial weapons financing, and sustainability details on various social and environmental issues. While the company has policies and programs on many issues, it faces ongoing controversies around sales practices, mortgage products, and anti-money laundering compliance.
This document discusses the future prospects of the private student lending industry. It notes that rising college costs combined with rising demand for higher education has led to an annual $110 billion funding gap in the US. While government aid helps close this gap, private student loans will need to play a bigger role. The document outlines some challenges facing private student lenders, such as reputational risk, but argues that fundamentals point toward a prosperous future if certain market conditions are met, such as GDP growth and the return of stable asset-backed securities markets for student loans. Overall, it presents an optimistic view of the private student lending industry over the next 2-3 years.
This document discusses the future prospects of the private student lending industry. It notes that while rising college costs and demand for higher education have created a large funding gap, government funding alone cannot close it. The private sector must play a bigger role by making more student loan funds available on terms suitable for borrowers from different backgrounds. However, private lenders face challenges like reputational risk. If certain market conditions improve like GDP growth and the return of asset-backed securities markets for student loans, the industry outlook is optimistic. Success will depend on putting borrowers first, flexible products, and viewing loans as the start of long-term customer relationships.
1. Student loan default rates are increasing due to weak economic factors disproportionately impacting younger people, high unemployment rates expected to remain around 8%, rising tuition fees of approximately 5% annually, and changes in student demographics with more attending for-profit schools which have much higher default rates.
2. Factors contributing to rising defaults include adverse macroeconomic conditions, changing student behaviors with more walking away from obligations, and demographic shifts toward older students and those attending for-profit institutions.
3. Default managers need new models that can predict at-risk borrowers to proactively offer tailored loss mitigation and maintain loan performance.
1. Student loan default rates are increasing due to weak economic factors disproportionately impacting young people, high unemployment rates expected to remain around 8%, rising tuition fees of approximately 5% annually, and changes in student demographics with more attending for-profit schools which have much higher default rates.
2. Factors contributing to rising defaults include adverse macroeconomic conditions, changing student behaviors with more walking away from obligations, and rising costs of education pushing student loan debt above $1 trillion.
3. Default managers need new models that can predict at-risk borrowers to proactively offer tailored loss mitigation and maintain loan performance.
The document discusses the top 6 frequently asked questions about President Obama's student loan forgiveness program. It explains that the program forgives remaining student loan debt for those who work in eligible public sector fields like nursing, teaching, or the military. It outlines the eligibility criteria, including that borrowers must have direct or guaranteed federal loans disbursed in 2008 or later, not be in default, and have exclusively federal loans. The document also notes that consolidation of loans and automatic payments can help borrowers qualify for forgiveness.
All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Overcoming Fear of Student Debt in Enrollment Decisions during Tough Economic...Ardeo Education Solutions
How Huntington University joined LRAP Association in a revenue-generating partnership that furthered the university's mission and fought enrollment decline. - G. Blair Dowden, Ed.D., President Emeritus, Huntington University
The document discusses the business opportunities for Medicaid managed care plans created by the health reform expansion of Medicaid. Key points include:
- An estimated 15 million additional people will gain Medicaid coverage, making it a large part of the insurance market.
- States are looking for Medicaid managed care plans to take on the new members and financial risk.
- This provides health plans with new patients and revenue to invest in initiatives like patient-centered medical homes and accountable care organizations.
The document discusses the need for workplace-based financial wellness programs by examining the current financial wellness landscape and the impact of financial distress on employers and employees. Some key points made include: many American workers live paycheck to paycheck and lack emergency savings; financial literacy is low as most people feel they could benefit from financial advice; payday loans contribute to financial crises and decreased productivity; high credit card debt and inability to save impacts mental health and ability to build assets for retirement. The document argues financial wellness programs can help reduce absenteeism, turnover, and presenteeism while improving loyalty, productivity, and 401k participation for employers and employees' financial stability and security.
This document provides an overview of a case study on SIC Life Insurance Company's Techiman Branch. It discusses key concepts like risk and insurance, and outlines the types of insurance available in Ghana, with a focus on life insurance. The document poses research questions on the measures insurance companies use to influence life insurance demand, the affordability of premiums, and the sufficiency of insurance claims. It describes the objectives, limitations, and organization of the study into 5 chapters, covering topics like literature review, methodology, data analysis and findings.
1) Unit-linked insurance has become popular in Indonesia as it provides both investment benefits and insurance coverage in a single product. It allows policyholders to invest in funds while also having life insurance.
2) However, Indonesia's insurance penetration remains relatively low at 1.3% of GDP compared to other Southeast Asian countries. This is due to public apathy regarding financial products.
3) While the life insurance market is dominated by 10 large companies, general insurance is less concentrated. Bancassurance through banks is the most popular distribution channel for insurance.
The document provides an overview of the William D. Ford Federal Direct Loan Program, including information about loan and disbursement processing, the Master Promissory Note, Direct PLUS Loan processing, funding, consolidation, borrower benefits and communication, and customer service. It addresses common questions from schools about various aspects of the Direct Loan Program in a question and answer format.
This document provides an overview and summary of key information about financial aid. It discusses the FAFSA filing deadline and statistics showing increased FAFSA submissions. It also outlines the FAFSA verification process and common errors. Additionally, it reviews the Expected Family Contribution calculation and how financial need is determined. Finally, it provides updates on federal and state aid programs for the upcoming year, including changes to Pell Grants, work-study, and loan amounts.
Monday November 12 2012 - Top 10 Risk Management NewsCompliance LLC
The document is a letter from the International Association of Risk and Compliance Professionals to its members providing a top 10 list of risk and compliance-related news stories and events that shaped the week. It discusses the additional capital requirements for global systemically important banks and introduces topics that will be covered at numbers 5 and 10 on the top 10 list, including a quote on conflicts of interest from the SEC and more details on the capital requirements. The letter serves to update members on recent risk and compliance news and events.
The document discusses the declining role of World Bank lending in middle-income countries and proposes ways to address the problem. It notes that World Bank lending to MICs has significantly declined in recent decades. While MICs still face development challenges, the Bank is constrained in supporting them. There are many reasons for the lending decline, including shifts in Bank priorities and procedures. Progress has been made to facilitate more lending, but more can be done, such as expanding financial intermediation lending and adapting instruments for sub-national governments.
Bancassurance involves banks selling insurance products through their existing distribution networks. It is a popular model worldwide, especially in Europe, with the global market estimated at $1.66 billion in 2018 and growing over 6% annually. There are four main models of bancassurance - distribution agreements, strategic alliances, joint ventures, and financial service groups. While bancassurance provides benefits like one-stop shopping and leveraging bank trust, it also poses challenges like different business models for banks and insurers, legal responsibilities, and adapting to digital banking trends. Critical success factors include senior management commitment, strong distribution strategies, treating insurance as core rather than add-on, and ensuring customers receive full product information.
The document discusses key findings from a global survey on pension and retirement systems.
1. Many governments and employers made pension commitments without fully understanding the long-term financial implications. A shift is needed from paternalism to empowering beneficiaries to make informed decisions.
2. Strategic clarity is important for stakeholders' confidence. A long-term vision focused on customers is needed, along with clear roles and accountability.
3. Respondents generally rated their vision and strategy maturity in the middle range, but more strategic clarity is still needed for reform and building public confidence in retirement systems.
This report analyzes loan default data from 2015-2016 to identify characteristics of borrowers who are most at risk of defaulting. The key findings include:
- Members aged 26-35 had the highest rate of default, while those aged 18-25 and 65+ had lower risks.
- Housing type and loan repayment frequency were also correlated with risk, with council tenants and monthly payers more likely to default.
- Existing members rather than new members, and borrowers taking out saver or instant saver loans, tended to have higher default rates.
- The analysis aims to help the organization minimize lending risk and identify criteria for future loan reviews.
Wells Fargo & Co is a diversified financial services company providing banking, insurance, investments and other services. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The document discusses Wells Fargo's business operations, ethical breaches related to military involvement and alcohol financing, true ESG risks around governance issues and controversial weapons financing, and sustainability details on various social and environmental issues. While the company has policies and programs on many issues, it faces ongoing controversies around sales practices, mortgage products, and anti-money laundering compliance.
This document discusses the future prospects of the private student lending industry. It notes that rising college costs combined with rising demand for higher education has led to an annual $110 billion funding gap in the US. While government aid helps close this gap, private student loans will need to play a bigger role. The document outlines some challenges facing private student lenders, such as reputational risk, but argues that fundamentals point toward a prosperous future if certain market conditions are met, such as GDP growth and the return of stable asset-backed securities markets for student loans. Overall, it presents an optimistic view of the private student lending industry over the next 2-3 years.
This document discusses the future prospects of the private student lending industry. It notes that while rising college costs and demand for higher education have created a large funding gap, government funding alone cannot close it. The private sector must play a bigger role by making more student loan funds available on terms suitable for borrowers from different backgrounds. However, private lenders face challenges like reputational risk. If certain market conditions improve like GDP growth and the return of asset-backed securities markets for student loans, the industry outlook is optimistic. Success will depend on putting borrowers first, flexible products, and viewing loans as the start of long-term customer relationships.
1. Student loan default rates are increasing due to weak economic factors disproportionately impacting younger people, high unemployment rates expected to remain around 8%, rising tuition fees of approximately 5% annually, and changes in student demographics with more attending for-profit schools which have much higher default rates.
2. Factors contributing to rising defaults include adverse macroeconomic conditions, changing student behaviors with more walking away from obligations, and demographic shifts toward older students and those attending for-profit institutions.
3. Default managers need new models that can predict at-risk borrowers to proactively offer tailored loss mitigation and maintain loan performance.
1. Student loan default rates are increasing due to weak economic factors disproportionately impacting young people, high unemployment rates expected to remain around 8%, rising tuition fees of approximately 5% annually, and changes in student demographics with more attending for-profit schools which have much higher default rates.
2. Factors contributing to rising defaults include adverse macroeconomic conditions, changing student behaviors with more walking away from obligations, and rising costs of education pushing student loan debt above $1 trillion.
3. Default managers need new models that can predict at-risk borrowers to proactively offer tailored loss mitigation and maintain loan performance.
Private student loans offer benefits to both students and financial institutions. They help students finance their education and allow lenders to diversify their loan portfolios and attract younger customers. While riskier than private loans, private loans have lower default rates than federal loans and can help cover education costs that federal loans do not. Partnering with a private student loan solutions provider allows financial institutions to offer private loans without taking on infrastructure or risk costs.
Student Debt Overview: Postsecondary National Policy Institute (PNPI) The New York Fed
Higher Education and Student Debt Overview:
Higher education is crucial to improving the skill level of American workers, especially given rising income and employment gaps between high school and college graduates.
With growing enrollment and rising tuition, student loans play an increasingly important role in financing higher education.
Rapid growth in the prevalence of student borrowing, and aggregate student debt balances approaching $1 trillion, have attracted attention from policymakers, the media, and the public.
We describe the historical and current situation of student debt and discuss its implications for borrowers and the economy.
This document analyzes the student lending market in the United States. It discusses both the federal and private student loan systems and suggests they are both inefficient due to issues like adverse selection and moral hazard. The federal loan system leads to higher default rates but increases access to higher education for lower-income households. Private loans may provide more options but place unnecessary risk on co-signers and offer limited repayment plans. Overall planning for college is presented as a way to reduce reliance on both federal and private student loans.
Student loan debt in the United States has risen dramatically in recent decades. The cost of higher education has increased substantially, forcing many students to take on large amounts of debt to pay for college through student loans. This growing student debt burden has significant negative consequences, as many graduates struggle to pay off their loans while also trying to start careers and families. Possible solutions discussed in the document include reducing interest rates on student loans, increasing financial aid programs, making colleges lower tuition costs, and establishing more flexible repayment plans tailored to graduates' incomes. Overall, the rising levels of student loan debt pose serious economic challenges that require action from both the government and higher education institutions.
This document summarizes expert advice for managing student loan debt from attorney Heather Jarvis. The summary points are:
1) Know your loan types and amounts by checking the National Student Loan Data System and credit reports.
2) Stay in contact with your loan servicer to avoid problems.
3) Carefully consider repayment options like income-driven plans to minimize interest costs over time.
4) Consolidating loans can provide benefits but loses federal protections - fully research this decision.
5) Seek help from servicers if struggling to avoid default, which has serious financial consequences.
Overview:
- Higher education is crucial to improving the skill level of American workers, especially in the face of a rising income and employment gap across workers with varying education levels.
- Due to increasing enrollment and the rising cost of higher education, student loans play an increasingly important role in financing higher education.
- However, the rapidly increasing burden of student debt, approaching $1 trillion now, including both federal and private student loans with very different characteristics.
- We present new analysis on the historical and current situation of student debt and discuss its implication on the borrowers and the economy.
This document provides information about a webinar on student loans and service members presented by the Consumer Financial Protection Bureau. The webinar covered topics like choosing a college, types of financial aid including the GI Bill, tips for repaying student debt, and special benefits for service members. It emphasized researching options thoroughly before taking on loans and highlighted available resources from the CFPB and Department of Veterans Affairs. The webinar aimed to help service members and their families make informed choices about paying for education.
SoFi Medical Borrower Refinancing GuideJeff Carroll
This document provides information about student loan refinancing for medical professionals. It discusses how refinancing can help borrowers save money on total interest costs and lower monthly payments by getting a lower interest rate. Refinancing allows switching between fixed and variable rates or consolidating multiple loans into a single monthly payment. While refinancing federal loans means losing benefits like deferment, forbearance and forgiveness programs, it can save thousands in interest for those who don't need those benefits. A one point interest rate reduction on $100,000 in loans at a 10-year term could save $6,000 in interest costs.
Student loan debt in the US has reached over $1.7 trillion, the second largest category of consumer debt after mortgages. A survey found that 81% of people with student loans had to delay important life milestones like home buying, marriage, or retirement savings due to debt. Student loan debt disproportionately affects minority and low-income borrowers. The author proposes a solution that college tuition would be repayable based on post-graduation income, incentivizing careers that pay well and reducing the burden of student loan debt. Nonprofits advocate for policies that address affordability and protect borrowers.
This document provides an overview of a student's research paper on the growth of student loan debt in the United States. It explores the history of rising tuition costs and student borrowing. The paper will examine trends in student debt levels and projections of how continued growth could impact both individual graduates and the broader economy. It will also review previous studies on the topic and the author's own empirical analysis of tuition rates, university finances, and debt levels compared to current labor market conditions for new graduates.
Families See College As An Essential Goal That Must Be Met Despite The Costsnoblex1
Borrowing by students and parents to pay for college has been one of the most commonly discussed and debated issues of national policy over the last two decades. Concerns about steadily increasing borrowing levels, have prompted a variety of policy proposals to ease the burden of college borrowing. Despite efforts to simplify and streamline student loan repayment, public knowledge about who borrows, how much is borrowed, and what students and their families think about borrowing is very limited. Much of what people know and think about student borrowing is framed by media reports, college student guides, and word-of-mouth. But how accurate those impressions are is virtually unknown.
To assess the current status of borrowing to pay for college on a national level, we prepared this comprehensive summary report. Our report seeks to add to public knowledge about college borrowing in several distinct ways. First, we present the most recent data available on national college borrowing trends. The analysis in this report focuses on borrowing trends in 2021-2022, and includes the most current estimates of borrowing levels and projections of total borrowing by the end of the decade. Data on the characteristics of those taking out student loans also comprise an important component of this analysis.
We also offer the results of a nationally representative survey of undergraduate students and families who borrow to pay for college. The survey was designed to assess the impact of student loan debt on family attitudes about college, major financial decisions, and the possible future ramifications of debt burden. This survey provides a snapshot of student and family views about college debt and paying for college. Profiles of student and family borrowers complete this package of information on college loan debt. These borrowers, who all currently have loans to pay for their education were interviewed at length to further illustrate how borrowing impacts American families in their pursuit of postsecondary education.
The combination of national data, survey responses, and profiles presents a complete picture of the situation facing students and families - both now and in the near future - as they attempt to finance what has become one of the most important, and most expensive, pieces of the American Dream: a college education. The overall findings suggest that while borrowing for college has exploded in the last five years, families are torn between their need to borrow and the burdens that these loans place on their present and future.
Our analysis of national data on borrowing revealed that changes in the federal student loan programs have had a dramatic impact on borrowing for college.
Source: https://ebookschoice.com/families-see-college-as-an-essential-goal-that-must-be-met-despite-the-costs/
This document discusses financial literacy and student loan debt in the United States. It begins by introducing the complex issue of rising student loan debt levels and examines how financial literacy relates to borrowing behaviors and financial well-being. It then defines various federal loans and grants available to students. Statistics show most students rely on loans, especially unsubsidized loans, to finance their education. Dependent students have lower unsubsidized loan limits than independent students. The document examines the role different institution types play in students' financial literacy and borrowing.
1. What’s new?
The amount of student loans outstanding
today, currently exceeding $1 trillion, is larger
than all other consumer ABS products.1 The
student loan market is segmented into two
major disbursement channels: federal lending
programs and privately originated loans,
which represent 80% and 20% of the market
respectively.
Federally funded loans are backed by the U.S
Government and are limited in both who
qualify for these loans and the amount they
can fund. Private student loans are originated
through lending programs not affiliated with
the federal government and are therefore not
subject to federal eligibility standards and
terms. As a result, private student loans are
often used as supplemental funding by
students in addition to any federal loans
received.
The private student loan market continues to
evolve as it faces new challenges and offers
new opportunities for growth. New
regulations have played a significant role in
the transformation of the overall Asset Back
Security (ABS) Market. The private student
loan sector is experiencing regulatory debate
over the dischargeability of private student
loans in a bankruptcy proceeding. Currently,
student loan debt is not dischargeable in a
bankruptcy; however, possible federal
legislative developments could allow students
in bankruptcy to discharge their student loan
1 FRBNY Consumer Credit Panel/Equifax
obligations along with the rest of their
personal debt. If such legislation is passed,
private student loan collateral pools may
experience higher loses than currently
projected. This scenario may cause student
loan lenders to tighten underwriting
standards and constrict available credit
through raising interest rates.
There has also been an increased focus on
reporting, disclosure and enhanced consumer
education and protection within the student
loans product space. The Consumer Finance
Protection Bureau is focused on protecting
borrower’s interests and has been actively
reviewing the servicing and collection
functions of different student loan issuers and
lenders. As for investors, the SEC has
undertaken initiatives focused on increasing
the depth of financial disclosures to improve
transparency.
How we got here?
Pre-credit crisis vs. post-credit crisis
The private student loan lending and
securitization industry has transformed over
the past ten years, from a period of growth
from 2003-2007 to an abrupt halt in 2008 at
the onset of the credit crisis. While other
factors contributed to the contraction of the
private student lending market, the credit
crisis amplified the risks associated with
investing in this asset class, increasing
funding costs and ultimately decreasing
demand and availability for this type of asset.
FSR Insights
Financial Instruments, Structured Products & Real Estate Insights
September 2013
Private Student Loans Market
2. FSR Insights September 2013 www.pwc.com/fsr
PwC 2
Increased funding costs and reduction of
margins has resulted in only 20 of the 93
private lenders during the credit boom of
2001-2007 still remaining in the market
today.2
Private student loans vs. federal loans
Private student loans have notable differences
compared to federally disbursed loans. The
primary difference is that private student
loans do not have the benefit of a federal
guarantee therefore credit risk management is
paramount to lender profitability. Private
2 Continuing Education: A Review of Private Credit
SLABS, Deutsche Bank
student lenders have trended away from using
simple eligibility criteria, such as FICO, and
have begun to incorporate additional metrics,
such as academic major and school, to
evaluate potential credit risk as a component
of the underwriting process. Private lenders
have also increased the requirement for co-
signers, spreading the risk of default, which
allows for larger disbursements to students as
the costs of education rises. The table below
illustrates the positive trends in collateral
performance of newer private student loans
from Sallie Mae’s 10-k, the largest private
student loan issuer.
Between 2001 and 2007 private lending grew from 11% of total student loans to 23%. The share of private loans has
markedly contracted since 2008.
Source: College Board, Trends in Student Aid 2012
3. FSR Insights September 2013 www.pwc.com/fsr
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Source: Sallie Mae 10K
Elimination of the Federal Family
Education Loan (FFEL) Program
Under the FFEL Program, lenders would
underwrite student loans, which were largely
guaranteed by full faith of the U.S
government. Prior to the elimination of the
FFEL Program in 2010, the government
significantly reduced the excess spread that is
available to lenders who originated FFELP
loans to the point that that it became
uneconomical to continue underwriting
FFELP loans. While many of the smaller
issuers exited the market at this time, many
larger underwriters remained due to the size
of their FFELP portfolios.
The FFEL lending program has been replaced
by the Direct Lending Program in 2010.
Under the Direct Lending Program, students
could borrow directly from the Department of
Education (DOE) through their selected
university without any intermediary between
the DOE and the borrower.3 The university
determines the amount of aid needed for each
student, with a maximum lending limit of
$31,000 over the 4 year period.
3 https://studentloans.gov/myDirectLoan/index.action
Post-credit crisis
Even as demand for consumer Asset Back
Securities (ABS) increases, private student
loan ABS issuances remain lower than pre-
crisis levels. Issuance trends in other
consumer ABS products are shown in the US
ABS Issuance by Sector chart below.
A number of hurdles exist for growth in the
private student loan ABS market. These
include:
• declining applications to graduate
schools, such as law schools or MBA
programs
• decreased demand for funding and
reduced enrollment in For-Profit
Educational Programs
The decline in For-Profit Education comes at
a time of increased government focus on the
effectiveness of the sector and the potential to
decrease grant availability to students seeking
this type of education.
FFELP vs Traditional Private Student Loans
(Dollars in millions)
Balance % Balance % Balance % Balance % Balance % Balance %
Loans in-school/grace/deferment 17,702.00$ 22,887.00$ 28,214.00$ 5,904.00$ 6,522.00$ 8,340.00$
Loans in forbearance 15,902 19,575 22,028 1,136 1,386 1,340
Loans in repayment and percentage of each status:
Loans current 75,499 83.20% 77,093 81.90% 80,026 82.80% 28,575 90.70% 27,122 89.90% 24,888 89.40%
Loans delinquent 31-60 days 4,710 5.20% 5,419 5.80% 5,500 5.70% 1,012 3.20% 1,076 3.60% 1,011 3.60%
Loans delinquent 61-90 days 2788 3.10% 3438 3.70% 3178 3.30% 481 1.50% 520 1.60% 471 1.70%
Loans delinquent greater than 90 days 7,734 8.50% 8,231 8.60% 7,992 8.20% 1,446 4.60% 1,467 4.90% 1,482 5.30%
Total Private Education Loans in repayment 90,731 100.00% 94,181 100.00% 96,696 100.00% 31,514 100.00% 30,185 100.00% 27,852 100.00%
Total Private Education Loans, gross 124,335 136,643 146,938 38,554 38,093 37,532
Private Education Loan unamortized discount 1436 1674 1900 -796 -873 -894
Total Private Education Loans 125,771 138,317 148,838 37,758 37,220 36,638
Private Education Loan receivable for partially charged-off loans 0 0 0 1,347 1,241 1,040
Private Education Loan allowance for losses -159 -187 -189 -2,171 -2,171 -2,022
Private Education Loans, net 125,612 138,130 148,649 36,934 36,290 35,656
Percentage of Private Education Loans in repayment 73.00% 68.90% 65.80% 81.70% 79.20% 74.20%
Delinquencies as a percentage of Private Education Loans in repayment 16.80% 18.10% 17.20% 9.30% 10.10% 10.60%
Loans in forbearance as a percentage of loans in repayment and forbearance 14.90% 17.20% 18.60% 3.50% 4.40% 4.60%
Traditional Private Student Loans
2010
FFELP
2012 2011 2010 2012 2011
4. FSR Insights September 2013 www.pwc.com/fsr
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US: ABS Issuance by Sector
Source: August23,2013 J.P. Morgan Global ABS/CDO Weekly Market Snap Shot.psf
Even though post-crisis securitization volume
has remained low, collateral quality has
increased due to the improved underwriting
standards. According to Sallie Mae4, private
student loans originated in recent years have
outperformed loans previously disbursed,
illustrated through a downward trend of
charge-offs and losses. As of 2012, the average
amount of cosigned loans within Sallie Mae’s
private student loan portfolios was 65% of all
loans, while the average amount of cosigned
loans in the portfolio originated in 2012 was
90%. Further, and the average FICO score was
748 the highest ever for an annual loan
origination cohort.5
While defaults are still highest in the initial
repayment months, a TransUnion study
indicated that the delinquency rates for
private student loans originated between
2007 and 2012 decreased by 2%,while federal
4 Sallie Mae 10K
5 Sallie Mae 10K
loan delinquencies for comparable vintages
increased by 27%. This is reflective of
increased efforts to improve underwriting
quality and loan servicing by private student
lenders.6
Future of the student loans market
While graduate and for-profit enrollment has
slowed, undergraduate enrollment has
continued to grow with expected enrolment
rising to 20.6 million by 2021.7 The forecasted
increase in enrollment, paired with the costs
of education rising at a rate faster than both
personal income and CPI, creates a unique
opportunity for the private student loans
lending market. This correlation is depicted
below.
6 “TransUnion Study Finds More Than Half of
Student Loans in Deferment; High Unemployment
Rates Put Loans at Risk”, Jan 30, 2013
6 Continuing Education: A review of Private Credit
SLABS, Deutsche Bank
0
10
20
30
40
50
60
70
80
90
100
110
2008 2009 2010 2011 2012 YTD 2013 Projected
2013
US ABS Supply by Sector ($bn)
Consumer Credit Cards Autos Student Loans Equipment Global RMBS Other
5. FSR Insights September 2013 www.pwc.com/fsr
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US Consumer Price Indices and Cost of Education (Jan 2000 = 100)
Source: Bureau of Labor Statistics
Average Annual Cost of Education (Tuition, Fees, Room and Board Charges)
Source: The College Board, Trends in College Pricing 2011
135.0
196.0
50
75
100
125
150
175
200
Jan-92
Jul-92
Jan-93
Jul-93
Jan-94
Jul-94
Jan-95
Jul-95
Jan-96
Jul-96
Jan-97
Jul-97
Jan-98
Jul-98
Jan-99
Jul-99
Jan-00
Jul-00
Jan-01
Jul-01
Jan-02
Jul-02
Jan-03
Jul-03
Jan-04
Jul-04
Jan-05
Jul-05
Jan-06
Jul-06
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
CPI Cost of Education
$38,589
$17,131
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
1981-82
1982-83
1983-84
1984-85
1985-86
1986-87
1987-88
1988-89
1989-90
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-00
2000-01
2001-02
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
Academic Year
Private Nonprofit Four-Year Public Four-Year
6. FSR Insights September 2013 www.pwc.com/fsr
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Funding gap
The funding gap is driven by supply and
demand. While the demand for lending is
increasing due to the higher costs of
education, federal funding remains limited
through the Direct Lending Program. Annual
lending limits remain consistent while
average annual costs of education increases at
a rapid rate. For FY 2011-2012 undergraduate
students received on average $13, 218 in
financial aid, of which only $5,056 was from
federal loans.8 Eliminating the cost of room
and board (estimated at $5,000) the amount
of aid provided will not cover a student’s
yearly educational costs. In addition, the
amount provided though federal lending fell
in FY 2011 and 2012, with a 2.8% decline
driven by a drop in the amount of federal aid
given resulting from a decrease in federal
borrowing.9 For these reasons, many students
have and will continue to turn to private
lenders to fill the gap between federally issued
loans and grants and the cost of education.
Underwriters: Decreased cost of
funding
As the market for private student loan
securitization grows, there is an opportunity
for issuers to improve marketability by adding
additional structural enhancements and
disclosures which may eventually lead to a
decrease in the cost of funding10. Structural
enhancements and disclosures have improved
8College Board “Trends in College Pricing 2012”
9 College Board “Trends in Student Aid 2012”
10 Cost of Funding Calculation Assumptions for Sallie
Mae Trusts: 2006-C, 2010-B, 2012-A, 2013-B
1. Discount rates of 10%, 15% and 18% were
selected to calculate a range of market values
for the residual tranche.
2. Market value of each trust at issuance, we
summed the projected par value of the
issued notes and the residual class and
subtracted the balance of the reserve
accounts.
3. PwC derived a conditional default rate
(CDR) is based on Moody’s cumulative
collateral loss projections at issuance for
each trust.
4. Cost of funding is derived in Intex using
market values under each discount rate
scenario.
leading to slight reductions in the cost of
funding. As shown in the following table, we
estimated the cost of funding for Private
Student Loan ABS. The reduction in funding
cost is due to market conditions and
improvements made thus far such as,
enhanced underwriting standards and
increased disclosures.
Cost of
Funding
2006-C 2010-B 2012-A 2013-B
10%
Residual
Discount
5.08 6.42 6.22 4.75
15%
Residual
Discount
5.56 7.95 7.90 5.86
18%
Residual
Discount
5.78 8.70 8.64 6.34
Issuers have the opportunity to further reduce
the cost of funding by streamlining and
increasing both what is disclosed initially at
the time of closing the deal and periodically as
part of the investor reports. In addition,
structural enhancements to mitigate some
investor concerns regarding changes in the
private student loans market have the
potential to further decrease the cost of
funding. These improvements may initially
reduce net proceeds received for issuance.
Implementing these changes while the market
is rebounding will likely have a positive effect
on the demand for private student loan ABS
in the future.
What are potential road
blocks?
In order to rejuvenate investor confidence and
demand in the private student loan ABS
market, lenders should consider how to
address the following investor concerns:
transparency and risk of legislation.
7. FSR Insights September 2013 www.pwc.com/fsr
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Transparency
The lack of transparency stems from limited
information available to investors regarding
collateral and trust performance. As collateral
information can be extensive, presenting the
loan level data in a more useful form of
conditional statistics benefits investor
analysis and aids in the establishment of
heuristics for the asset class. Heuristics or
illustrations of mental shortcuts, that aid in
processing information and are omnipresent
throughout financial analysis of equities
(beta), debt (duration), options (Greeks) and
RMBS (liquidation ratios).
Legislation
Increased credit risk due to a potential change
in bankruptcy laws is another major concern
for investors and lenders. One piece of
legislation, the Fairness for Struggling
Students Act of 2013 (S. 114)11, introduced by
Senator Dick Durbin (D-IL) seeks to change
the current dischargeability status. Supporters
of the bill argue that private student loans
resemble other consumer debt instruments
and therefore should not be privy to
additional protection. However, opponents
argue that removing non-dischargeability
would encourage moral hazard, increase
borrower defaults and increase the cost of
student loan funding. Dischargeability has
been discussed in Congress before, most
recently in the July 2012 Senate Committee
on Banking, Housing and Urban Affairs on
Financial Institutions and Consumer
Protection.12
Dischargeability has not been allowed for
federal student loans since 1978 and while the
debate over dischargeability for private
student loans is likely to continue, the
possibility of legislative action is still in doubt.
While bankruptcy reform could benefit many
borrowers struggling with repayment, if
passed, higher loan charge offs may likely
result in a tightening in underwriting
standards, increased costs to consumers and
originators, and an increase in interest rates.
11 http://thomas.loc.gov/cgi-bin/query/z?c113:S.114:
12http://www.banking.senate.gov/public/index.cfm?
Fuseaction=Hearings.Hearing&Hearing_ID=d31bafb
1-22cf-455e-8cd4-2b8121209cec
What’s next in terms of
possible solutions?
The current environment provides an
opportunity for lenders and investors in the
private student lending market. With
investors seeking higher yielding investments
and consumers looking for educational
funding, demand for new private student loan
issuances is expected to continue to grow in
the coming years. The following paragraphs
outline some possible solutions to the road
blocks discussed above regarding the
expansion of the private student loans market.
These solutions have the potential to help
facilitate growth and consistency in this
private student loan market.
Options to enhance investor
transparency
Developing a framework of heuristics for the
private student loan space like duration and
convexity, presents issuers the opportunity to
make private student loan credit analysis
more available for a larger investor base. This
will likely help investors to become less reliant
on analysis provided by third party service
providers and allow more market participants
to develop an independent view on the
different private student loan securities.
Improvement in data analysis, disclosure, and
consistent performance metric calculations
presents increased transparency for investors.
Issuers can develop historical performance
metrics for different stratifications of loan
collateral such that users can apply historic
static pool data to the current portfolio to
develop future expectations of performance.
Additional collateral information disclosed by
issuers could also include:
• Cohort default rates by school
• Borrower Major
• Updated FICO scores of the borrower and
Co-signor on a more consistent and
frequent basis, such as every reset cycle
or annually whichever is earlier
• Break out of current geographic location
of the borrowers
8. FSR Insights September 2013 www.pwc.com/fsr
PwC 8
• Double stratification that illustrates
multiple variables such as: local
unemployment rate and the current
geographic location of the borrowers
By providing historical performance
information for the static pools, investors will
likely be more capable of conducting
performance forecasting. Being able to
independently forecast performance may
reduce investor uncertainty, reliance on third
party service providers and requirements to
access loan level data.
Providing streamlined performance metrics
for different loan cohorts would allow
investors to use conditional estimates such as
Bayesian statistics to improve forecasting
capabilities. With this type of analysis,
investors can apply a number of forecasting
approaches to loan cohorts, based on the
stratification information, to improve the
performance forecasting of the collateral
pools. This ability will allow investors to use
their own internal models to project future
cashflows into and out of the trust, ultimately
reducing the investor’s reliance on rating
agencies or other market participants.
In addition to collateral stratification tables,
creating an industry standard set of
calculations and disclosures, such as default
and prepayment metrics, recovery
performance information, as well as other
user friendly charts and analysis tools, would
likely help spur investor demand and
confidence.
Options to mitigate the effects of
potential legislation
• Adding a repurchase option if Congress
makes private student loans
dischargeable in a bankruptcy proceeding
• This repurchase option could increase
marketability by allaying investor
concern over potential regulatory actions
Structural options to enhance investor
demand
• Creating a Fixed/Rate Reset maturity
note (2 - 4 year) with the option to
extend. This will help alleviate:
- Credit risk for student loans that is
typically higher when compared to
other consumer ABS classes; and
- Creating shorter notes with an option
to extend will help to reduce the
credit, interest rate and reinvestment
risks associated with student loans.
Under this alternative, if the collateral
performs well, investors will likely have
an option to hold on to the notes and
reset spreads in a changing rate
environment.
• Engaging a third party to act as a liquidity
facility if early amortization is triggered.
The proceeds from this facility could be
used to pay off senior notes as quickly as
possible.
The Facility fee would cost a portion of
the excess spread in the trust but would
allow for tighter pricing of the senior
notes; and if the pool performs as
expected, the facility won’t be drawn
upon. This may enhance investor demand
and confidence, given their concern over
liquidity and the long duration of this
asset class.
9. FSR Insights September 2013 www.pwc.com/fsr
PwC 9
How PwC can help
PwC can assist in helping you to improve your
securitization platform and disclosures in the
context of the ever changing market.
• We can help in advising with data,
disclosures and analysis with regards to
static pool information.
• Consult in the calculations of historical
performance metrics and validate the
accuracy of disclosures.
• Provide reviews and compliance checks
which might include: quarterly third-
party calculations and annual sample
review after issuance.
• Provide insight on best practices with in
the ABS reporting and disclosure space.
• Advising on different structuring options
available for the issuers based on cash
flow analysis etc.
• Provide insight on industry best practices
on default and vendor management and
loss mitigation strategies.
10. FSR Insights September 2013 www.pwc.com/fsr
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Additional information
PwC’s FSR Group
PwC’s FSR Group brings you:
A unique combination of financial
reporting, advisory, tax, finance, operational
readiness, process and technology, and
regulatory expertise, coordinated with
specialized transaction and valuation services
for securitizations, structured products,
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In-depth knowledge and valuation
expertise on virtually all asset classes,
including debt and equity securities,
derivatives, structured notes, residential and
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receivables, credit cards, home equity loans,
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receivables, and mutual fund fees.
A group of subject matter specialists who
provide insights into developments in the
capital, credit, derivatives and real estate
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banking, transaction structures, investor
reporting, technology, real estate asset
monitoring and management, reorganization
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robustness of financial models and perform
risk analysis, including evaluating sensitivity
measures and stress testing methodologies for
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Our team is multi-disciplined and
diverse. We bring a unique approach to
blending and managing services in
today’s dynamic and fast changing
markets.
Yogesh Gupta
Partner
202 414 1354
yogesh.gupta@us.pwc.com
John Gibson
Principal
202 414 4691
john.l.gibson@us.pwc.com
Andy Hawley
Principal
617 803 5993
andy.hawley@us.pwc.com
Sandilya (Sandy) Hota
Director
202 414 4516
sandy.n.hota@us.pwc.com
Thomas Karwacki
Manager
202 346 5082
thomas.j.karwacki@us.pwc.com
Elizabeth Fireman
Associate
202 346 5021
elizabeth.fireman@us.pwc.com