NEW YORK (Standard&Poor's) July 23, 2008--Standard&Poor's Ratings Services today assigned its preliminary ratings to Higher Education Student Assistance Authority's (New Jersey) $350 million student loan revenue bonds 2008 series A (see list). The preliminary ratings are based on information as of July 23, 2008. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. The preliminary ratings reflect the 3% debt service reserve fund, the capitalized interest fund, the excess spread, and the financial guarantee insurance policy provided by Assured Guaranty Corp. ('AAA' insurer financial enhancement rating) that guarantees payment of scheduled interest and principal at the legal final maturity date. The preliminary ratings are further supported by a sound
