Higher Education Loan Authority of the State of Missouri Series 2021-1: Presale Report

DBRS, Inc. (DBRS Morningstar) assigned provisional ratings to the Higher Education Loan Authority of the State of Missouri Series 2021-1 (MOHELA 2021-1) Class A-1A Notes, Class A-1B Notes (collectively, the Class A Notes), and Class B Notes (together with the Class A Notes, the Notes). A portion of proceeds from the sale of the Notes will be applied to refinance existing trusts, including loans under the Issuer's 2010-1 indenture. The DBRS Morningstar ratings address the timely payment of interest and the full payment of principal in accordance with the terms and conditions of the MOHELA 2021-1 transaction documents.