Federal student loans are offered through Sallie Mae (SLMA, the Student Loan Marketing Association) and are sold to investors. Repayment on these loans is guaranteed, so student loan debt cannot be “discharged” even if you file for bankruptcy.
Private student loans, on the other hand, are no different than any other unsecured personal loans. Because they are not guaranteed, you most likely will pay higher interest rate on private student loans than you would on federal loans.
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