The History of Student Loans in the United States
Peoples & Things
00:00
How Did Bankers Lose Their Sweetheart Deal?
On page 252, you say government policies since the 1972 reauthorization have benefited the student loan industry. Later experts later emphasize that Sally Mae had turned this sector into a quote gold mine. And at this point, there's something like 3000 student lenders or something like that. So how did bankers lose their sweetheart deal? Well, to be honest, it actually, and they, the real threat is in the, starts in the early 90s is direct lending.
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