NATIONAL COLLEGIATE STUDENT LOAN TRUST

“Who are those guys?”

One of my favorite movies is Butch Cassidy and the Sundance Kid .  Through out the movie Butch and Sundance are hounded by men on horses.  Butch constantly asks

“Who are those guys”

When I see clients in my office they often show me a piece of paper with the name of National Collegiate Student Loan Trust and my clients asks

“Who are those guys”

I did not borrow any money from them let alone any student loans from them. They are right they did not borrow any money from National Collegiate Student Loan Trust.  They did however borrow from a bank like National City Bank or Bank One  or Fifth Third Bank.  these banks then immediately sold them to another Bank general Charter One Bank.  This bank then sold or assigned the loan to another entity who packaged the loan with a whole lot of other student loans.   These loans were then assigned (maybe) to a the student loan trust.

“Who are those guys”

Yes this is just like the mortgage industry.  The loans were then packaged and sold off to investors.   The loans are now allegedly held by va