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The Federal Government now owns $1.6 Trillion in student debt, or about 92% of the industry. What happened between Sallie Mae, the Great Recession, and the Affordable Care Act to lead to such a concentration of assets. This is a structural history of the supply side of the Student Loan Crisis.
Sources:
History of Student Loans: Origins
https://www.savingforcollege.com/article/history-of-student-loans-origins
Student Debt Explained: Breaking Down the $1.6T in Loans
Who owes all that student debt? And who’d benefit if it were forgiven?
Who Actually Owns Student Loan Debt?
Is the government making money off your student loans?
https://money.cnn.com/2016/08/04/pf/college/federal-student-loan-profit/index.html
Why Government Doesn’t Profit From Student Loans
The Sallie Mae Saga: A Government-Created, Student Debt Fueled Profit Machine
The Sallie Mae Saga: A Government-Created, Student Debt Fueled Profit Machine
https://www.studentloanborrowerassistance.org/wp-content/uploads/File/report-sallie-mae-saga.pdf
SLM Corporation UNITED STATES SECURITIES AND EXCHANGE COMMISSION Filing
https://www.salliemae.com/assets/investors/shareholder/annual-reports/BOW76911BOW024_BITS_N_1548.pdf
Student Loan Asset-Backed Securities: Safe or Subprime?
The Student Loan Bailout
https://www.thenation.com/article/archive/student-loan-bailout/
Lessons Learned From The Privatization of Sallie Mae
How Biden helped create the student debt problem he now promises to fix
https://www.theguardian.com/us-news/2019/dec/02/joe-biden-student-loan-debt-2005-act-2020
DeVos Falsely Suggests That Student Loans Were Federalized to Pay for Obamacare
Loans subsidize ObamaCare
https://thehill.com/opinion/columnists/dick-morris/302247-loans-subsidize-obamacare
Are college students being overcharged on loans to pay for ‘Obamacare’?
5 Charts That Explain the Student Debt Crisis
https://fee.org/articles/5-charts-that-explain-the-student-debt-crisis/
COMPILATION OF PATIENT PROTECTION AND AFFORDABLE CARE ACT
https://www.hhs.gov/sites/default/files/ppacacon.pdf
Student Loan Stretching
https://www.factcheck.org/2014/10/student-loan-stretching/
Obama Signs Student Loan Overhaul Legislation
Administration of the William D. Ford Federal Direct Loan Program
https://crsreports.congress.gov/product/pdf/R/R44845
Federal Student Loans Made Through the William D. Ford Federal Direct Loan Program: Terms and Conditions for Borrowers
https://crsreports.congress.gov/product/pdf/R/R45931
A Snapshot of Federal Student Loan Debt
https://crsreports.congress.gov/product/pdf/IF/IF10158
Student-Loan Outlook Is Reversed, Showing $31 Billion U.S. Cost
https://about.bgov.com/news/student-loan-outlook-is-reversed-showing-31-billion-cost/
End government profits on student loans: Shift risk and lower interest rates
How Much Money Does the Government Really Make From Student Loans?
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