The company could also be affected by changes in the demand for educational financing or in financing preferences of lenders , educational institutions , students , and their families ; the company 's ability to maintain its credit facilities or obtain new facilities ; the ability of lenders under the company 's credit facilities to fulfill their lending commitments under these facilities ; changes to the terms and conditions of the liquidity programs offered by the Department ; changes in the general interest rate environment and in the securitization markets for education loans , which may increase the costs or limit the availability of financings necessary to initiate , purchase , or carry education loans ; losses from loan defaults ; changes in prepayment rates , guaranty rates , loan floor rates , and credit spreads ; the uncertain nature of estimated expenses that may be incurred and cost savings that may result from restructuring plans ; incorrect estimates or assumptions by management in connection with the preparation of the consolidated financial statements ; and changes in general economic conditions .