[20190531]LSB10302_先发制人的打击：联邦法律是否取代了州政府对学生贷款服务机构的监管？.pdf

CRS Legal Sidebar Prepared for Members and Committees of Congress Legal SidebarLegal Sidebari i Preemptive Strike: Does Federal Law Displace State Regulation of Student Loan Servicers? May 31, 2019 The United States is responsible for a large portfolio of student loans. According to recent statistics from the U.S. Department of Education (ED), almost $1.5 trillion in federal student loans presently remains outstanding. For many years, the federal governments role with respect to federal student loans was primarily that of a guarantor, as the majority of federal student loans “were originated by private sector and state-based lenders” through the Federal Family Education Loan Program (FFELP). Since July 1, 2010, however, the United States has directly owned and administered the majority of newly issued federal student loans, which are now made through the Federal Direct Loan Program (FDLP). This development has expanded the federal governments role in the student loan context, which has in turn raised weighty legal questions explored below. To assist with the administration of student loans, the United States and private lenders alike commonly hire student loan servicers. These serv