OVERVIEW We reviewed the ratings on the bonds issued from three New Jersey Higher Education Student Assistance Authority (NJHESAA) trust indentures. Each transaction is backed by a pool of private student loan collateral. We upgraded three classes of bonds from the series 2010-1 transaction reflecting their short term to maturity and the cash on deposit available for redemptions. We affirmed the 'AA (sf)' ratings on 16 classes of bonds from series 2009-A and 20 classes of bonds from series 2010-1 due to sufficient credit enhancement at the current ratings. We affirmed the 'AA (sf)' rating on the series 2008-A bonds, reflecting the financial guarantee insurance policy provided by Assured Guaranty Corp. NEW YORK (Standard&Poor's) July 24, 2015--Standard&
