Our attorneys have been continuously engaged in student loan financings for over 40 years. During this period our firm has had substantial participation in federal student loan financings by public programs in a majority of the States and Puerto Rico. We have also had substantial legal responsibility for the establishment and initial financing of numerous state government-sponsored supplemental student loan programs and have developed a unique breadth and depth of experience in this highly specialized area. We serve as bond counsel to state student loan programs in Connecticut, New York and Kentucky and have acted as underwriters’ counsel for financings undertaken for the Massachusetts and Vermont programs.
Hawkins is one of a handful of firms that have been regularly involved in state student loan finance matters for a significant portion of this period and we are engaged with student loan matters on a daily basis. The firm has served as bond counsel or underwriters’ counsel on over 150 student loan bond issues aggregating over $12 billion in principal amount.
Hawkins is highly qualified to advise clients with respect to all legal aspects of student loan finance, including:
- Determination of loan demand;
- Preparation of legislation to accommodate program development;
- Preparation, revision and revocation of plans for doing business;
- Negotiation, preparation and interpretation of loan processing, origination, servicing, custody and collection, as well as program administration and documentation;
- Sale of loan portfolios, and merger and transfer of program functions;
- Negotiation and preparation of fixed, variable rate bonds, commercial paper, floating rate note, federal conduit, asset-backed and private placement financing documentation;
- Analysis of state and federal tax and regulatory law provisions and preparation of related documentation;
- Structuring of creative financing structures to take advantage of governmental and educational institution subsidies and credit or liquidity support;
- Negotiation with credit, liquidity and swap providers;
- Post-issuance administration of financing programs, including arbitrage requirements and bond amendment, repurchase and retirement programs;
- Rating agency requirements; and
- Preparation of initial offering disclosure and of secondary market disclosure.