Reply #9: FAIL: Federal Direct Student Loans

[jpljr77]

they have the infrastructure to process the payments, service the loan and process all the necessary paperwork and seeing they already do that for all the other consumer style debt in the USA, I might even suggest that they are far more expert at it than the government is (or could be at least for a decade or so).

The banks do have the infrastructure, you're right. But so does the Dept of ED. They do know a thing or two about lending to students and servicing the loans, you know. There is this thing called the Federal Direct Student Loan Program...