Re:The Long Road to the Student Debt Crisis
by Retric on Tuesday September 17, 2019 @09:48PM
(#21001788)
https://www.investopedia.com/articles/personal-finance/08121...
There was a change as a rider to the 2010 affordable care act. But, older federally backed student loans are sold and resold.
Re:The Long Road to the Student Debt Crisis
by rayiner on Wednesday September 18, 2019 @04:45AM
(#21003414)
Pre-Obama loans represent a small fraction of all student loan debt.
Re:The Long Road to the Student Debt Crisis
by Retric on Wednesday September 18, 2019 @07:08AM
(#21004016)
I think it’s still on the order of 3-400 Billion or so, but I am not sure of the numbers.
Either way loans go back 4+ years before graduation and people take 15+ years to pay them back. So I assume quite a few of these loans are out there even if the remaining balance is not that huge.
https://studentaid.ed.gov/sa/repay-loans/understand/servicer...
> In some cases, ED needs to transfer loans from one servicer to another servicer on the federal loan servicer team. ED transfers loans as part of its efforts to ensure that all borrowers are provided with customer service and repayment support. If ED needs to transfer your federal student loans from your assigned servicer to another servicer, your loans will still be owned by ED. The “transfer” to another servicer on ED’s federal loan servicer team simply means that a new servicer will provide the support you need to fully repay your loans.