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I can see how you think we were only talking of federally "backed" loans, but I did intend my expansion to be all loans the government has "protected." Which,
by taeric 3y ago
I can see how you think we were only talking of federally "backed" loans, but I did intend my expansion to be all loans the government has "protected." Which, as the other poster points out, is basically all of them.
- dragonwriter 3y agoFederal loans are basically all of them to start with (over 92% of outstanding balances).
- taeric 3y agoI had thought that I had private loans back in the day. Been a long time since I paid all of mine off, though, so I can't remember who they were through. (And, I fully grant that, even if I was private loans, 8% is still a non-zero number...)
- dragonwriter 3y agoBefore federal loans were all direct (Ford loans), there were federal loans issued through third-party lenders (Stafford loans) that otherwise worked the same way with the same kinds of loans (subsidized, unsubsidized, PLUS; for a while, both Stafford and Ford were offered at the same time, with identical terms.) These are collectively “federal” loans (and there are still balances on loans originated as Stafford loans) distinct from “private” loans.
- taeric 3y agoI remember I maxed out my Stafford allocation, and then also had to get extra loans to cover my last year. Memory being what it is, I wouldn't be shocked if I am misremembering some. Regardless, I got them all payed off; and still have a massive distaste at how most discourse over this goes.