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Why would they need federal approval for that? They aren't, afaik, federal student loans. And there are lots of reasons not to refi federal loans to private l
by x0x0 11y ago
Why would they need federal approval for that? They aren't, afaik, federal student loans.
And there are lots of reasons not to refi federal loans to private loans to save a bit of interest, particularly IBR and pay-earn plans. Though private loans would be dischargeable in bankruptcy, so they have that going for them.
- zaroth 11y agoYou're right, Fed loans are paid off, not transferred for serving, perhaps... I originally assumed they would want to centralize servicing of Fed loans as well, and keep the underlying Fed loan alive underneath since it's a cheap source of funds. But they don't do that, probably not technically possible. Did I read that right, refinanced / private student loans are dischargable in bankruptcy?
- x0x0 11y agosome of them are; details matter The previous post should have been s/would/could/