Student loan ABS

Nelnet's offering is backed by federally guaranteed loans; Darien Rowayton Bank's is backed by private loans refinancing the debt of borrowers with prestigious degrees and high incomes.

The alliance should help the asset registry and communications platform, accelerate its expansion beyond leveraged loans and structured finance and into more overseas markets.

Investors in hundreds of millions of dollars of bonds backed by private student debt could pay the price for shoddy paperwork and aggressive pursuit of troubled borrowers.