Chapman and Cutler LLP has served as bond counsel or underwriter's counsel in connection with many issues of "asset-backed" guaranteed student loan revenue bonds and "credit-enhanced" student loan revenue bonds of the Illinois Student Assistance Commission ("ISAC").
ISAC's program has grown consistently over the years and now originates or purchases more than $800 million of student loans each year.
As part of our practice group's growth, we have drafted more than 10 master resolutions or indentures for ISAC.
Our firm has extensive experience in fixed rate, auction rate, and letter of credit or bond insurance backed student loan securities. We have also rendered opinions on taxable and tax-exempt bonds, as well as refundings and new money issues.