The government guarantees the student loan to the lender in my understanding so it would have to be yes. That was the intent, for the government to back up the loans so it would be easier for students with no income and no assets and no credit history to get tens of thousands of dollars of loans. Let that sink in. A loan to someone with no income, no assets, and no credit history. SHEESH.
If the government holds the debt, we the people just don't get repaid for what we loaned them.
So $116 BILLION! Off the balance sheet as a receivable.
I also would be glad to hear more details but don't have time to investigate it at the moment.
The government guarantees the student loan to the lender in my understanding so it would have to be yes. That was the intent, for the government to back up the loans so it would be easier for students with no income and no assets and no credit history to get tens of thousands of dollars of loans. Let that sink in. A loan to someone with no income, no assets, and no credit history. SHEESH.
If the government holds the debt, we the people just don't get repaid for what we loaned them.
So $116 BILLION! Off the balance sheet as a receivable.
I also would be glad to hear more details but don't have time to investigate it at the moment.