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Banks are rarely involved anymore. Most student loans nowadays are direct from the federal government.
by lapcat 2y ago
Banks are rarely involved anymore. Most student loans nowadays are direct from the federal government.
- nradov 2y agoCorrect. And when banks or other private lenders make student loans now they usually require a co-signer, such as a parent, with a decent credit score and assets or income. So even if there's a high rate of defaults by borrowers the lenders are unlikely to take major losses.