Perhaps the BEST B1G Forum anywhere, here at College Football Fan Site, CFB51!!!

The Biden administration’s plan to cancel up to $20,000 in student debt isn’t limited to borrowers seeking relief on loans the government already owns.

Roughly $110 billion in older “privately” held student loans created under the now defunct Federal Family Education Loan Program (FFEL) also could qualify, even through they aren’t directly eligible for debt relief under President Biden’s plan, a person with direct knowledge of the matter told MarketWatch.

As long as they meet the income criteria for the debt relief plan, borrowers with FFEL loans held outside of the government’s reach, including those packaged years ago into bond deals, can be consolidated into a new federal “direct loan” to qualify for cancellation, according to the Department.

If borrowers with these loans take the government up on its offer to consolidate to receive the debt relief, it also could mean an unexpected deluge of payments to bonds that benefit investors.

Who owns student loans
Like in the mortgage market, the U.S. government for decades has been the dominant player in financing student loans.

With the Education Department’s roughly $1.1 trillion stake, the federal government owns everything but a tiny slice (see chart) of the overall $1.6 trillion student loan pie.


https://www.marketwatch.com/story/bidens-plan-to-cancel-student-debt-can-apply-to-billions-of-dollars-in-investor-owned-loans-but-there-is-a-hitch-11662498086

I buddy and I would finish off the 50 wing platter at Hooters back in the 90's (25 each)

breaded with the jalapeno bits and plenty of curly fries

I was early 30's instead of 60

yup, can't hide from that number

I'm old

Fearless was on those CNN boards.

I was not. 

We (CFN) inherited all you knuckleheads in 2005, around Thanksgiving.

Thankfully.

Fearless was on those CNN boards.

I was not.

We (CFN) inherited all you knuckleheads in 2005, around Thanksgiving.

Thankfully.

There were CNN/SI boards?

Man, the old internet was something

There were CNN/SI boards.

Man, the old internet was something

I had a new screaming Gateway computer with the fresh 56K modem!

The last board I was on before this one was Dustin R's old board.  When it went poof I didn't know where everybody went (i was never on CFN).  I did a search one day, tried different things.  College football message board, alamo message board, etc.  I even tried looking up utee94.  No luck.  Then, in a last ditch attempt, I looked up Hooky Hornstein and this is the first thing that popped up!