This change occurred in 2010: > Prior to 2010, Federal loans included 1) direct loans originated and funded directly by the United States Department of Educati

This change occurred in 2010: > Prior to 2010, Federal loans included 1) direct loans originated and funded directly by the United States Department of Education and 2) loans originated and funded by private investors and guaranteed by the federal government. Guaranteed loans were eliminated in 2010 through the Student Aid and Fiscal Responsibility Act and replaced with direct loans because of a belief that guaranteed loans benefited private student loan companies at taxpayers expense, but did not reduce costs for students. https://en.wikipedia.org/wiki/Student_loans_in_the_United_States#Federal_loans https://en.wikipedia.org/wiki/Student_loans_in_the_United_St... > Most student loans — about 92%, according to a June 2020 report by MeasureOne, an academic data firm — are owned by the U.S. Department of Education. https://www.nerdwallet.com/article/loans/student-loans/student-loan-debt https://www.nerdwallet.com/article/loans/student-loans/stude... The MeasureOne link: https://www.measureone.com/resources https://www.measureone.com/resources