Student Loan used to be from the bank to qualify, every semester the bank monitor the Student grades. Then on 2010 Obama passed the Health Care & Education Reconcilliation Act (HCERA), all new Federal Loan except for Perking Loan would be directly for Government to Student. Government took over the management, student loan interest expenses sky rocketed. Private Bank are OUT. Today Student loan debt is $1.6 Trillion, it is not all from student loan, it also include Government Administrative fees.Best solution is let the private sector bank run the student loan, the Gov’t will pay the bank for the closing fee-service fee NOT the student.