The New Jersey Higher Education Student Assistance Authority (HESAA) is preparing a $220 million securitization of private student loans, according to a presale report from Standard & Poor’s.

New Jersey Higher Education Student Assistance Authority (2014-1) will issue three classes of notes: $182 million of fixed-rate notes with preliminary ‘AA’ ratings, $25 million of floating rate notes with preliminary ‘AA’ ratings, and $13 million of fixed rate notes with preliminary ‘A’ ratings.

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