Securitization funds such large swathes of everyday financial activity in the US that political risk – policy decisions that will impact the viability of underlying assets or their cash flows – is often high. The sub-prime mortgage market has been a political football for over a decade since the financial crisis, but that mantle is now passing to another stalwart of asset-backed securitization deal flow – student loans.
There is $1.7 trillion of student debt outstanding in the US, roughly 92.5%
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