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The loans are from private lenders and gauranteed by the government. If it was just a government program they wouldn't have had to have the draconian anti bankr
by guelo 7y ago
The loans are from private lenders and gauranteed by the government. If it was just a government program they wouldn't have had to have the draconian anti bankruptcy provisions which were put in place to attract the private lenders.
That's also why Obamacare had to be this rube goldberg public/private complication.
- WillPostForFood 7y agoThat hasn't been true for a decade. There are still old private loans out there, but since 2010 student loans are directly made by the government, and make up almost all the market. You might have a secondary private loan, but you'd start with a govt. loan. https://studentaid.gov/ https://studentaid.gov/