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Private Lenders Eye Graduate Loan Market Inside Higher ED
May 4, 2018
Private lenders hold just a fraction of the outstanding student loan debt in the U.S. -- about 7.7 percent as of last year. But those companies have plans to grow their student loan holdings.
And they argue that with the help of Congress, they could play an even bigger role in the student loan marketplace -- as they formerly did.
Purposefully expanding private lenders' piece of the student loan pie would be a reversal for Congress more than a decade after serious federal reforms followed a major scandal concerning the misleading marketing of loan products to borrowers and conflicts of interest involving campus officials and lenders.