A Brief History of the Student Loan Debt Industry; How We Got to a Crisis!

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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

https://www.usnews.com/news/elections/articles/2019-11-01/student-debt-explained-breaking-down-the-16t-in-loans

 

Who owes all that student debt? And who’d benefit if it were forgiven?

https://www.brookings.edu/policy2020/votervital/who-owes-all-that-student-debt-and-whod-benefit-if-it-were-forgiven/

 

Who Actually Owns Student Loan Debt?

https://www.investopedia.com/articles/personal-finance/081216/who-actually-owns-student-loan-debt.asp

 

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

https://www.forbes.com/sites/prestoncooper2/2017/08/04/why-government-doesnt-profit-from-student-loans/?sh=373c68a8eb63

 

The Sallie Mae Saga: A Government-Created, Student Debt Fueled Profit Machine

https://www.studentloanborrowerassistance.org/sallie-mae-saga-government-created-student-debt-fueled-profit-machine/#:~:text=In%201972%2C%20President%20Nixon%20created,backed%20student%20loans%20from%20banks.

 

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?

https://www.investopedia.com/articles/investing/081815/student-loan-assetbacked-securities-safe-or-subprime.asp

 

The Student Loan Bailout

https://www.thenation.com/article/archive/student-loan-bailout/

 

Lessons Learned From The Privatization of Sallie Mae 

https://www.treasury.gov/about/organizational-structure/offices/Documents/SallieMaePrivatizationReport.pdf

 

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

https://www.chronicle.com/article/devos-falsely-suggests-that-student-loans-were-federalized-to-pay-for-obamacare/?bc_nonce=jqabu23914vwha3kiydln&cid=reg_wall_signup

 

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’?

https://www.washingtonpost.com/blogs/fact-checker/post/are-college-students-are-being-overcharged-on-loans-to-pay-for-obamacare/2013/07/16/ce0d3794-ee3f-11e2-bed3-b9b6fe264871_blog.html

 

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

https://abcnews.go.com/WN/Politics/health-care-obama-signs-student-loan-overhaul-legislation/story?id=10239569

 

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

https://www.brookings.edu/research/end-government-profits-on-student-loans-shift-risk-and-lower-interest-rates/

 

How Much Money Does the Government Really Make From Student Loans?

https://www.theatlantic.com/business/archive/2013/04/how-much-money-does-the-government-really-make-from-student-loans/274912/

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