Federal student loans are either directly financed by the government or financed by private banks. Those private banks, however, get paid by the government if the student defaults on the loan.
So banks are basically making profits with very little risk.
Obama has said he wants to cut the middle man out and save the government/tax payer millions in dollars in the process. He also said the banking lobbyiest are preparing for war but that he is not going to back down.
Whose side are you on?

My direct student loan is now through the government, and I feel like I am absolutely getting nowhere with them. I have had my loan through them since 2004 and my balance has went from 35000 to 32000. I really need some suggestions of what companies to go through to possibly refinance. My credit score is in the middle area. Thanks for your help.

Since my son became disabled, his student loan defaulted and they actually take money from his social security check each month. The loan cancellation process is quite time consuming and still in limbo until all paperwork is done. Does anyone know if Dept of Ed takes the stimulas pymt?

Ok so I am voluntarily repaying my student loan. However now I want to stop. It seems to be impossible to get through to the student finance people so I thought I would ask on here. Should I just stop the standing order I have or is there an official way of stopping?
Thanks.

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Is there a way to get the government to pay a portion of your national student loan? Or anything you can apply for to reduce the amount owed?