Higher education loan fund seeking help

CONCORD - In order to find the liquidity it needs to provide student loans to its clients, New Hampshire Higher Education Loan Corporation (NHHELCO) has sought the assistance of the NH Bureau of Securities Regulation. NHHELCO is seeking relief based on the auction rate securities which were underwritten by UBS Securities, LLC, which for many years served as NHHELCO’s investment banker, underwriter and broker-dealer as well as the agency’s trusted financial advisor. The relief being sought with the bureau’s assistance is consistent with NHHELCO’s mission, which is to provide student loan financing at affordable rates for New Hampshire residents attending institutions for post-secondary education and students attending state institutions for post-secondary education. Because of the lack of capital available to NHHELCO, it has... [read full story]