OVERVIEW -- This is an ABS securitization of private student loans made under New Jersey Higher Education Student Assistance Authority's NJCLASS loan program. -- We are assigning our preliminary 'AA' rating to the 2009 series A bonds. -- The preliminary rating reflects our opinion of the transaction's expected initial parity and the credit quality of the loan pool, as well as our cash flow modeling scenarios. NEW YORK (Standard&Poor's) June 3, 2009--Standard&Poor's Ratings Services today assigned its preliminary 'AA' rating to New Jersey Higher Education Student Assistance Authority's $450 million tax-exempt fixed-rate student loan revenue bonds 2009 series A. The preliminary rating is based on information as of June 3, 2009. Subsequent information may result in
