Fitch SMARTView: 15 U.S. FFELP & Private Student Loan ABS Deals Placed 'Under Analysis'

Following its monthly surveillance review of U.S. Student Loan asset-backed securities (ABS) transactions, Fitch Ratings designated 15 U.S. FFELP and private student loan ABS deals as 'Under Analysis', indicating that Fitch is in the process of reviewing the deal which will be followed by a rating action. A rating action could include an affirmation, upgrade, downgrade or placement on Rating Watch.

Five hundred and sixty four Student Loan ABS deals were designated with a SMARTView date of Nov. 19, 2009, indicating that performance has been reviewed and a rating action is not anticipated within the next 30 days.

The following transaction has been placed 'Under Analysis', because its performance is outside of Fitch's expectations:

--Educational Loan Company Trust I

The following transactions have been placed 'Under Analysis' because they will be subject to a periodic in-depth review:

--Access Group, Inc. 2002 Indenture of Trust

--Arkansas Student Loan Authority-Amended and Restated 2000 Indenture of Trust (1994) (AR)

--Goal Capital Funding Trust 2007-1

--GCO SLIMS Trust I

--EduCap-Trust Indenture dated June 1, 2004

--National Ed Financing LLC

--National Collegiate Student Loan Trust 2003-1

--National Collegiate Student Loan Trust 2004-1

--National Collegiate Student Loan Trust 2004-2

--New Hampshire HELC (1997)/HEFA (1998) (NH)

--North Carolina State Education Assistance Authority - 1995 Master Trust (NC)

--Panhandle-Plains Higher Education Authority, Inc.-2000 AHEA-1 Indenture (fka Abilene HEA 1993 Trust) (TX)

--The National Collegiate Trust 2005-GATE

--The National Collegiate Trust 2007-A

To review a list of deals 'Under Analysis' use the following link (accessible to all users of the Fitch web site):

www.fitchratings.com/smartview

As Fitch receives monthly information on student loan ABS transactions from trustees and servicers, Fitch analysts run the data through various internal algorithms which identify classes of a transaction as possible candidates for upgrade or downgrade. Fitch's analysts scrutinize the output to decide which deals need further review, which are noted as 'Under Analysis'. Deals not selected for further review are given a SMARTView date indicating that the performance information has been reviewed as of that date.

A transaction may also be designated as 'Under Analysis' when a review is undertaken because of a material event affecting the transaction or when a regular, more in-depth periodic review is being performed. While transaction performance is reviewed monthly, Fitch conducts detailed portfolio reviews at least annually.

SMARTView is available on the Fitch Ratings web site at ' www.fitchratings.com', along with the report titled 'SMARTView, Fitch U.S. Structured Finance Monthly Public Reviews'.

Additional information is available at ' www.fitchratings.com'.

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