OVERVIEW New Jersey Higher Education Student Assistance Authority's series 2010-FFELP issuance is a securitization backed by student loans that are at least 97% reinsured by the U.S. federal government. We assigned our 'AAA' ratings to the series 2010-FFELP bonds. The ratings reflect our view of the transaction's initial parity, the U.S. federal government's reinsurance, and our stressed cash flow modeling scenarios. NEW YORK (Standard&Poor's) May 7, 2010--Standard&Poor's Ratings Services today assigned its 'AAA' ratings to New Jersey Higher Education Student Assistance Authority's $145 million tax-exempt LIBOR floating-rate student loan revenue bonds series 2010-FFELP (see list). The ratings reflect our view of: The transaction's initial parity of approximately 105.0% (the parity percentage is defined as the percentage
