Student loan servicer Nelnet and the Connecticut-based Darien Rowayton Bank are offering a combined $623.33 million in notes backed by student loans, according to rating agency presale reports.

Nelnet’s $399.39 million offering is backed by federally guaranteed loans through the Federal Family Education Loan Program. FFELP loans are reinsured 97% by the US Department of Education, providing substantial loss protection to the transaction.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.