I have a legitimate, potentially stupid, question—if federal student loans are guaranteed funding by the government, when a person defaults on their loan the lender still gets their money.

How is paying for debt relief any different than paying for the defaulted loan? People keep saying “where does the money come from” but the money has already been allocated because they guarantee funding, no?

Posting as :
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<softly whispers>

“Well, does anybody want to tell him/her about how student loans are essentially non-dischargeable in bankruptcy and interest still accrues while in default status?”

likehelpful

You got it, and now you understand credit. The interest rate includes the profit a lender requires plus the amount they feel will be lost to delinquency/discharge/default (whether due to bankruptcy, death, etc.) netted by the potential recovery in each situation. That’s why when your score is lower you pay a higher rate, because your potential to default is higher.

Go start a bank now!

likefunny

Well, because like everything else in the government it sits as a debt...and we tax payers pay on it....and that's why our country has a a debt that is in the trillions...

Oh I’m 100% on board with you!

I guess the reason I’m asking is because if we pay either way, the complaint about taxes as a response to the relief seems like it doesn’t actually make sense.

like

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⬛⬛⬛⬛🟨
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