Tag Archive | "private lenders"

Sen. Durbin: Why Is It Ok With Him To Let Private Lenders Get Cheated, But Not The Government?


“Roughly 85 percent of outstanding student loan debt is owed to the federal government. The remaining 15 percent that’s counted as private student debt is owed to various non-federal lenders, ranging from banks to loan companies like Sallie Mae Corp. to non-profits and state-affiliated agencies (under the Durbin bill, loans from any government-funded entity still wouldn’t be dischargeable, only those from truly private lenders).”
This story about student loans was in the paper today (Peoria Journal Star)

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