Visible strides were made in student loan securitization in 1994. And while the long-term outlook remains highly uncertain, it is possible that the market could grow appreciably in the next few years.

According to Securities Data Co., $2.35 billion of student loans were securitized last year. The sum equals about 10% of the roughly $22 billion of student loans originated in 1994, according to Sanford C. Bernstein & Co.

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