Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

mwooldri

(10,697 posts)

11. So if the loan is a federal direct student loan from Dept of Education...

Reply to Recursion (Reply #9)

Thu Jul 4, 2019, 09:39 AM

Jul 2019

Is it a "bank" that holds the loan or the "government"?

What would forgiveness of a federal direct student loan do? Or am I still further thoroughly confused?

Edit to add: my thoughts are if there are bank federal student loans and government federal student loans, would a bank forgiveness of $100,000 of debt be cancelled out by the feds doing the same thing? Thus money supply wouldn't be hurt?