Only 4% of Student Loan Auction Rate Securities Have Been Refinanced to Date
According to this Bloomberg article, only 3 billion of the 85 billion in outstanding student loan Auction Rate Securities have been refinanced to date. Furthermore, due to these securities’ low interest rates, the prospects for an immediate solution are bleak. The article further reported that approximately two-thirds of publicly traded companies that are holding student loan auction rate securities have marked down the value of the securities, sometimes as much as 35%.
If you were sold student loan auction rate securities by a brokerage firm who represented that they were safe and/or liquid, and you would like to discuss your legal options, please contact Greco & Greco for a free consultation with one of our attorneys.
Posted by Greco & Greco on 07/11 at 03:44 PM
Auction Rate Securities (ARS) •
Brokerage Firms •
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