Access to Loans for Learning Student Loan Corporation, a California public benefit non-profit corporation (ALL), converted from a non-profit enterprise focused exclusively on acquiring student loans incurred under the federal Higher Education Act to a company with the flexibility to engage in more general philanthropic activities. ALL changed its name to California Education Assistance, Inc. (CalEd). As part of the conversion process, ALL created a wholly owned for-profit subsidiary and several for-profit special purpose limited liability companies to which it transferred its student loan assets and liabilities.
Subsequently, CalEd and North Texas Higher Education Authority, Inc. (NTHEA) announced that NTHEA had completed the acquisition of CalEd’s FFELP student loan business (see Press Release). NTHEA assumed the three remaining CalEd indentures that finance FFELP student loans by acquiring CalEd’s indirect subsidiaries ALL Financing 2012 LLC and ALL Financing 2013 LLC and by acquiring all of the capital stock of ALL Indenture Operating Company, a subsidiary of CalEd, that owns ALL Financing 2010 LLC. NTHEA contracts with Higher Education Servicing Corporation (HESC) to serve as its servicer and administrator. HESC took over the management of the indentures and the loan portfolios effective October 1, 2023.
The loans are financed through the issuance of asset-backed bonds. These bonds are limited obligations of each of the ALL Financing entities and, as such, are payable solely from the student loans and other assets pledged under the applicable indentures. The bonds do not constitute general obligations of the entities. The bonds are described in the Offering Memoranda, including the applicable Term Supplements (together the Offering Documents). Potential investors should review the information contained therein in its entirety, including information under the Certain Risk Factors sections.
Each of the ALL Financing entities provides certain financial reports and information and recent Offering Documents as a service to investors and for information purposes only. THIS IS NOT AN OFFERING DOCUMENT. The information provided herein relates to bond issues of each of the ALL Financing entities that have been sold and distributed in underwritten public offerings described in the related Offering Documents. Each viewer of the following information acknowledges that (i) each of the ALL Financing entities is not now by this document offering any securities nor soliciting an offer to buy securities, (ii) this information is not to be construed as a description of the ALL Financing entities or its programs in conjunction with any offering of securities, nor shall anyone assume from the availability of the following information that the affairs of the ALL Financing entities (or their programs) have not changed since the date of this information, (iii) no representation is made as to the propriety or legality of any secondary market trading of the securities of the ALL Financing entities by anyone in any jurisdiction, and (iv) the information speaks as of its date, and the ALL Financing entities do not hereby obligate themselves in any manner to periodically or otherwise update this information or to maintain the availability of this information. The information does not purport to include every item that may be of interest, nor does it purport to present full and fair disclosure with respect to any of its bonds within the meaning of applicable securities laws.
“Note: This website is not managed or updated by ALL Management Corporation or any of its affiliate companies, and neither ALL Management Corporation nor its affiliates accept any liability for information posted on this website on or after October 1, 2023.”
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